Insight Enterprises Inc. (NSIT)

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.