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PC Connection (CNXN)
NASDAQ:CNXN
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.93Last Year’s EPS
$0.9Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 2.59%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture. While there were record achievements in net income and significant growth in the public sector, healthcare, and retail segments, there were notable challenges in advanced technology, business solutions, and overall gross margin. The cautious market environment and AI uncertainty have also posed challenges.Company Guidance
In the recent earnings call for Q3 2024, Connection (CNXN) provided a detailed guidance emphasizing several key financial metrics. The company achieved record net income and earnings per share of $1.02, reflecting a 5.7% and 5.4% increase, respectively, compared to Q3 2023. Consolidated net sales rose by 4.6% to $724.7 million, with gross profit increasing by 2.7% to $135.4 million. However, gross margins slightly declined by 30 basis points to 18.7%. The Business Solutions segment experienced a 6.1% decline in net sales, while the Public Sector Solutions and Enterprise Solutions segments saw increases of 18.7% and 7.4%, respectively. Despite a decrease of 6.2% in operating income, the company maintained a robust cash position with $429.1 million in cash, cash equivalents, and short-term investments. Connection's strategic investments in AI and technical sales capabilities are expected to drive future growth, although the company anticipates that demand will remain muted through the remainder of 2024, with a more pronounced recovery expected in 2025.Record Net Income and Earnings Per Share
Connection achieved a record net income of $27.1 million, a 5.7% increase compared to $25.6 million in the prior year quarter. The diluted earnings per share was a record $1.02, an increase of 5.4% from $0.97 in Q3 2023.
Public Sector Solutions Growth
The Public Sector Solutions segment saw a significant net sales increase of 18.7% year-over-year, driven by a $25.6 million increase in federal government sales.
Strong Growth in Health Care and Retail
Health care revenue increased 20% year-over-year, while retail revenue saw a 23% increase, driven by large customer deployments of endpoint solutions.
Increase in Cloud and Cybersecurity Sales
The software category, including cloud and cybersecurity, experienced strong growth of 11%.
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CNXN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CNXN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $67.26 | $63.56 | -5.50% |
| Jul 31, 2024 | $71.36 | $74.86 | +4.90% |
| May 01, 2024 | $61.69 | $59.03 | -4.31% |
| Feb 14, 2024 | $65.02 | $69.18 | +6.40% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does PC Connection (CNXN) report earnings?
PC Connection (CNXN) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is PC Connection (CNXN) earnings time?
PC Connection (CNXN) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CNXN EPS forecast?
CNXN EPS forecast for the fiscal quarter 2024 (Q4) is $0.93.
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