ScanSource Q4 Results Miss Estimates; Guides FY25 Sales In Line With View

(RTTNews) - Technology company ScanSource, Inc. (SCSC) reported Tuesday that net earnings for the fourth quarter decreased to $16.10 million or $0.64 per share from $17.10 million or $0.68 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.80 per share, compared to $0.76 per share in the year-ago quarter.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.93 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 21.2 percent to $746.11 million from $947.15 million in the same quarter last year. Analysts expected sales of $843.14 million for the quarter.

Looking ahead to fiscal 2025, the company now projects net sales between $3.1 billion and $3.5 billion. The Street is looking for sales of $3.47 billion for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com