Insight Enterprises (NSIT) Tops Q2 EPS by 74c

Insight Enterprises (NASDAQ: NSIT) reported Q2 EPS of $1.75, $0.74 better than the analyst estimate of $1.01. Revenue for the quarter came in at $1.97 billion versus the consensus estimate of $1.98 billion.

GUIDANCE AND ANTICIPATED COVID-19 IMPACT

When reporting its first quarter financial results, the Company withdrew its 2020 guidance for net sales and Adjusted diluted earnings per share due to the high level of economic uncertainty and disruption caused by COVID-19. We observed a pronounced impact of COVID-19 on our second quarter financial results compared to internal budgets and we anticipate demand for our products and services will continue to be down in the third quarter of 2020, as clients continue to evaluate the impact of COVID-19 on their businesses, their profitability and their liquidity. The ultimate extent of the impact of the COVID-19 pandemic on our business operations, financial performance and results of operations, including our ability to execute our business strategies and initiatives in the expected time frame, is currently unknown and will depend on future developments, which are highly uncertain, continuously evolving and cannot be predicted. This includes, but is not limited to, the duration and spread of the COVID-19 pandemic, its severity, the actions taken to contain the virus or treat its impact, such as restrictions on travel and transportation, and how quickly and to what extent normal economic and operating conditions can resume.

For earnings history and earnings-related data on Insight Enterprises (NSIT) click here.

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