IT solutions integrator Insight Enterprises (NASDAQ: NSIT) will be announcing earnings results tomorrow morning. Here’s what investors should know.
Insight Enterprises missed analysts’ revenue expectations by 4.7% last quarter, reporting revenues of $2.07 billion, down 7.3% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ full-year EPS guidance estimates and a miss of analysts’ EPS estimates.
Is Insight Enterprises a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Insight Enterprises’s revenue to decline 6% year on year to $2.24 billion, a reversal from the 2.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Insight Enterprises’s peers in the tech hardware & electronics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. TD SYNNEX delivered year-on-year revenue growth of 4%, missing analysts’ expectations by 1.7%, and Knowles reported a revenue decline of 32.7%, topping estimates by 2.5%. TD SYNNEX traded down 16.6% following the results while Knowles was up 2.6%.
Read our full analysis of TD SYNNEX’s results here and Knowles’s results here.
Investors in the tech hardware & electronics segment have had fairly steady hands going into earnings, with share prices down 2% on average over the last month. Insight Enterprises is down 4.7% during the same time and is heading into earnings with an average analyst price target of $180.62 (compared to the current share price of $140.06).
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