IT solutions integrator Insight Enterprises (NASDAQ: NSIT) will be announcing earnings results this Thursday morning. Here’s what investors should know.
Insight Enterprises missed analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $2.09 billion, down 3.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue 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 for active Edge members.
This quarter, analysts are expecting Insight Enterprises’s revenue to grow 2% year on year to $2.13 billion, a reversal from the 7.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.49 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. Insight Enterprises has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Insight Enterprises’s peers in the tech hardware & electronics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. TD SYNNEX delivered year-on-year revenue growth of 6.6%, beating analysts’ expectations by 3.5%, and Amphenol reported revenues up 53.4%, topping estimates by 10.9%. TD SYNNEX traded up 9.5% following the results while Amphenol was also up 8.8%.
Read our full analysis of TD SYNNEX’s results here and Amphenol’s results here.
Investors in the tech hardware & electronics segment have had steady hands going into earnings, with share prices flat over the last month. Insight Enterprises is down 6.7% during the same time and is heading into earnings with an average analyst price target of $161.33 (compared to the current share price of $105).
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