ScanSource (SCSC) Misses Q2 EPS by 4c; Offers Q3 EPS/Revenue Outlook

ScanSource (NASDAQ: SCSC) reported Q2 EPS of $0.77, $0.04 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $833.74 million versus the consensus estimate of $965.9 million.

"The second quarter's financial results were below our expectations, as we reorganized our North American VAR sales teams and lost sales from a group of customers," said Mike Baur, Chairman and CEO, ScanSource, Inc. "We are committed to our One ScanSource strategy to drive higher value and recurring revenue growth for our customers."

GUIDANCE:

ScanSource sees Q3 2020 EPS of $0.44-$0.54, versus the consensus of $0.69. ScanSource sees Q3 2020 revenue of $725-775 million, versus the consensus of $832.53 million.

Forecast for Next Quarter

For the third quarter of fiscal year 2020, ScanSource expects GAAP net sales to range from $865 million to $915 million and non-GAAP net sales excluding the Planned Divestitures to range from $725 million to $775 million. For the third quarter of fiscal year 2020, ScanSource expects diluted earnings per share to range from $0.16 to $0.26 and non-GAAP diluted earnings per share to range from $0.44 to $0.54. Non-GAAP diluted earnings per share exclude amortization of intangible assets related to acquisitions, change in fair value of contingent consideration, the impact of Planned Divestitures and other non-GAAP items.

For earnings history and earnings-related data on ScanSource (SCSC) click here.

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