Insight Enterprises Q3 Adj. Profit Rises; Net Sales Down 11%

(RTTNews) - Insight Enterprises, Inc. (NSIT) reported that its third quarter net income increased to $60.3 million from $57.3 million, last year. Earnings per share was $1.62, up 3%. Adjusted earnings per share was $2.37, up 19% year over year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $2.33, for the quarter. Analysts' estimates typically exclude special items.

Third quarter consolidated net sales was $2.3 billion, decreased 11%, year to year. Product net sales decreased 13%, while services net sales increased 3%. Analysts on average had estimated $2.33 billion in revenue.

The company confirmed its full year 2023 guidance for adjusted earnings per share in the range between $9.40 and $9.60.

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