Flash FinanceUS
Market closed S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · ScanSource (SCSC)

ScanSource cuts FY24 outlook as Q3 net sales fall 15% and profit drops 40%

Negative Impact 4 of 5 guidance Written later

ScanSource reported third-quarter fiscal 2024 net sales of $752.6 million, down 15.0% year over year, and GAAP diluted EPS of $0.50, down from $0.83. The company lowered its full-year fiscal 2024 guidance for net sales, adjusted EBITDA and free cash flow was raised, and it announced a new $100 million share repurchase authorization.

Key points

  • Q3 net sales $752.6 million, down 15.0%; GAAP net income $12.8 million, down 39.7%
  • FY24 net sales outlook cut to at least $3.3 billion from at least $3.5 billion; adjusted EBITDA cut to at least $140 million from at least $155 million
  • FY24 free cash flow outlook raised to at least $275 million from at least $200 million
  • New $100 million share repurchase authorization; about $45 million remained under the prior authorization as of March 31, 2024

The filing

CompanyScanSource (SCSC)
Form8-K, current report
Filed with the SECMay 7, 2024, 8:31 AM ET
Accession number0000918965-24-000013

Items reported: 2.02 Results of Operations5.03 Bylaw / Charter Amendment8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.