Ford (NYSE:) Brandy, the Senior Vice President and Chief Accounting Officer of ScanSource , Inc. (NASDAQ:), a company currently valued at $1.14 billion with strong financial health according to InvestingPro analysis, recently sold 1,845 shares of the company’s common stock. The shares were sold at an average price of $49.38, totaling approximately $91,106. Following this transaction, Brandy retains ownership of 9,506 shares in the company. The sale was executed on December 19, 2024, as per the latest SEC filing. While this insider sale occurred, InvestingPro data shows management has been actively buying back shares, with the company maintaining robust liquidity and showing positive momentum with a 27% return over the past year. Get access to 10+ additional ProTips and comprehensive insider trading analysis with InvestingPro.
In other recent news, ScanSource demonstrated a strong first quarter performance despite an 11.5% dip in consolidated sales year-over-year. The company saw an increase in both earnings per share (EPS) and free cash flow, and reported a net debt leverage ratio of zero. Notably, ScanSource’s shareholders have approved the 2024 Omnibus Incentive Compensation Plan and re-elected eight directors to the board. The new incentive plan, replacing the 2021 plan, allows for various award types and is designed to benefit employees, officers, consultants, and non-employee directors of the company. In addition to these developments, ScanSource reaffirmed its fiscal year 2025 guidance, expecting net sales to range between $3.1 billion and $3.5 billion, and an adjusted EBITDA between $140 million to $160 million. Despite the decrease in sales, the company managed to increase non-GAAP net income and diluted EPS by 11% and 14% respectively. However, ScanSource anticipates a soft demand with Intelisys reporting only a 6% net bookings growth. These are some of the recent developments for ScanSource.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.