price down icon0.60%   -1.25
after-market  After Hours:  207.1055  -0.0145   -0.01%

Why is Insight Enterprises Inc. (NSIT) Stock down?

We've noticed a 5.12% decline in Insight Enterprises Inc. (NSIT) stock during the 2024-05-01 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
15 Feb, 2024:

Insight Enterprises (NSIT) stock fell by 5.12% due to the company's press release regarding its fourth-quarter financial results. Here are the details:

  • Q4 Financial Performance: Insight Enterprises reported fourth-quarter non-GAAP earnings per share (EPS) of $2.98, falling short of expectations by $0.08. Additionally, the company's revenue of $2.2 billion marked an 11.0% year-over-year decrease and missed expectations by $200 million. Despite this, cash flows provided by operating activities were $205.8 million for the fourth quarter and $619.5 million for the full year.
  • Full Year 2024 Outlook: For the full year 2024, Insight Enterprises anticipates adjusted diluted earnings per share to be in the range of $10.50 to $10.80, compared to the consensus estimate of $11.32. The company expects gross profit growth in the mid to high teens with a gross margin of approximately 19%. However, it foresees operating expenses growing at a higher rate than gross profit.
  • Assumptions and Outlook Factors: Insight Enterprises' outlook assumes interest expense of $40 to $42 million, an effective tax rate of 26% for the full year, capital expenditures of $50 to $55 million, and an average share count for the full year of 35.2 million shares.
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