Insight Enterprises (NSIT) Tops Q2 EPS by 19c, Revenues-In-Line; Boosts FY18 EPS Outlook

Insight Enterprises (NASDAQ: NSIT) reported Q2 EPS of $1.45, $0.19 better than the analyst estimate of $1.26. Revenue for the quarter came in at $1.84 billion versus the consensus estimate of $1.84 billion.

“We are pleased with our top and bottom line financial results in the second quarter and with our team’s execution in optimizing working capital in the business, which led to Adjusted free cash flow of more than $300 million in the first half of the year,” stated Ken Lamneck, President and Chief Executive Officer. “Our strategy to grow organically while consistently driving operational efficiency across the business allows us to invest for the long term, including strategic acquisitions like Cardinal that will bring scale and reach to our already strong Digital Innovations solution area,” stated Lamneck.

GUIDANCE

For the full year 2018, the Company expects to deliver sales growth in the high single to low double digit range compared to 2017. The Company is also increasing its Adjusted diluted earnings per share outlook for the full year of 2018 to be between $4.50 and $4.60.

This outlook assumes:

• an effective tax rate of between 26% and 27% for the balance of 2018;
• capital expenditures of $15 to $20 million for the full year; and
• an average share count for the full year of approximately 36.0 million shares.

GUIDANCE:

Insight Enterprises sees FY2018 EPS of $4.50-$4.60.

For earnings history and earnings-related data on Insight Enterprises (NSIT) click here.

You May Also Be Interested In

• 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
• UBS Reiterates Neutral Rating on Clorox (CLX) as External Challenges Persist
• Nvidia pitches Vera CPU to Chinese clients with August delivery target