NSIT - Insight Enterprises Non-GAAP EPS of $2.53 beats by $0.41 revenue of $2.5B misses by $110M

• Insight Enterprises press release ( NASDAQ: NSIT ): Q4 Non-GAAP EPS of $2.53 beats by $0.41 .
• Revenue of $2.5B (-2.3% Y/Y) misses by $110M .
• Net sales in North America decreased 1%, year to year, to $2.1 billion;
  • Product net sales decreased 2%, year to year, to $1.8 billion;
  • Services net sales increased 10%, year over year, to $311.8 million;
• Net sales in EMEA decreased 12%, year to year, to $375.2 million; and
• Net sales in APAC increased 2%, year over year, to $54.8 million.

• For the full year 2023, the Company expects to deliver gross profit growth in the high single digit range vs. 3.73% consensus and Adjusted diluted earnings per share is expected to be between $9.90 and $10.10 vs. $9.15 consensus.

  This outlook assumes

  • interest expense between $48 and $52 million;
  • an effective tax rate of 25% to 26% for the full year;
  • capital expenditures of $55 to $60 million; and
  • an average share count for the full year of 34.3 million shares after an estimated completion of our planned share repurchases under our current authorization net of estimated dilution.

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