Insight Enterprises Inc - NSIT STOCK NEWS

Insight Enterprises (NASDAQ: NSIT) reported Q2 2024 results with gross profit up 5% to $453.4 million and gross margin expanding 260 basis points to 21.0%. Net sales decreased 8% to $2.2 billion, while consolidated net earnings grew 9% to $87.4 million. Key highlights include:

- Cloud gross profit grew 21% year over year
- Insight Core services gross profit increased 12% year over year
- Diluted EPS of $2.27, up 5% year over year
- Adjusted diluted EPS of $2.46, down 4% year to year

The company's focus on cloud, services, and high-growth areas has improved shareholder economics. For full-year 2024, Insight expects Adjusted diluted EPS between $10.60 and $10.90, with low double-digit gross profit growth and gross margin in the 19% to 20% range.

Insight Enterprises (Nasdaq: NSIT) has announced it will release its second quarter 2024 financial results on August 1, 2024, before the market opens. The company will also host a conference call and live webcast at 9:00 a.m. ET on the same day to discuss the operational results. Investors and analysts can access the live webcast and replays of the conference call through the company's investor relations website. To participate in the live conference call, interested parties must register in advance using the provided event link, after which they will receive dial-in information, a unique registrant ID, and detailed instructions for joining the call.

Insight Enterprises (NASDAQ: NSIT) has launched a new service that accelerates the adoption of data analytics using Microsoft Fabric. The service aims to simplify data integration and management, enabling companies to access and utilize data without relocating it. The Insight Lens™ architecture reduces implementation time to a few weeks, providing tailored support, templated deployment, and actionable insights.

For instance, a healthcare organization used this service to manage data from multiple sources, enabling better customer insights and decision-making. Insight's approach addresses common barriers such as aging infrastructure, technical expertise gaps, and security compliance. Microsoft Fabric offers an all-in-one analytics solution, enhancing collaboration and real-time insights through Microsoft Power BI.

Insight holds various Microsoft designations and specializations, emphasizing its capability in delivering robust data management solutions. Learn more or access their on-demand webinar to understand the benefits of implementing Microsoft Fabric.

Insight Enterprises (NASDAQ: NSIT) announced its participation in the Stifel 2024 Cross Sector Conference on June 4, 2024, at 11:30 AM ET. The company's CEO, Joyce Mullen, and CFO, Glynis Bryan, will present at the event.

The presentation will be broadcast live online, and materials such as webcasts and slide presentations will be available on their investor relations website.

Insight Enterprises (NASDAQ: NSIT) is partnering with Microsoft and Qualcomm to test next-generation AI PCs. These devices will leverage Qualcomm's Snapdragon X Elite NPU and the new Windows 11 with AI features and Copilot. Insight will be among the first to adopt these AI-enhanced Windows-based PCs from leading brands such as Microsoft Surface, Dell, HP, and Lenovo. The initiative involves testing device architecture, software performance, and business app compatibility. Early results show improved battery life, CPU performance, and multitasking capabilities. Insight's expertise in AI applications positions it as a key player in helping clients implement advanced AI solutions.

Insight Enterprises (NASDAQ: NSIT) has announced the pricing of $500 million in senior notes with an interest rate of 6.625% due 2032. The proceeds will be used to pay down part of the company's senior secured revolving credit facility, which matures in 2027, and for general corporate purposes. The notes will be senior unsecured obligations guaranteed by current and future U.S. subsidiaries. The sale is expected to close on May 20, 2024, pending standard closing conditions. Interest payments are scheduled semiannually on May 15 and November 15, starting in November 2024. The offering is to qualified institutional buyers and non-U.S. persons under specific regulatory exemptions.

Insight Enterprises (NASDAQ: NSIT) announced a proposed $500 million offering of Senior Notes due 2032. The proceeds are expected to be used to repay part of its outstanding borrowings under a senior secured revolving credit facility due 2027, with any remaining funds allocated for general corporate purposes. These senior unsecured notes will be guaranteed by the company's existing and future U.S. subsidiaries that are guarantors or borrowers under its ABL facility, subject to exceptions. The notes will be sold to qualified institutional buyers and non-U.S. persons outside the U.S. under Securities Act exemptions.

Insight Enterprises (Nasdaq: NSIT) is set to participate in the J.P. Morgan 52nd Annual Global Technology, Media, and Communications Conference on Tuesday, May 21, 2024, at 8:10 AM ET. Glynis Bryan, the CFO, will represent the company. The event will be broadcast live online and will be accessible through Insight's investor relations website, where other recent webcasts and presentations can also be viewed.

Insight Enterprises, Inc. (NSIT) plans potential offering of senior notes to repay debts and for general corporate purposes. The Company aims to hold investor meetings in an exempt transaction under the Securities Act of 1933. The Offering's terms and final decision are uncertain. This PR is solely for informational purposes, not an offer to sell or buy securities.