ScanSource, Inc. (NASDAQ:SCSC) Q3 2022 Earnings Conference Call May 10, 2022 5:00 PM ET

Company Participants

Mary Gentry - Senior Vice President, Treasurer & Investor Relations

Mike Baur - Chairman & Chief Executive Officer

John Eldh - President

Steve Jones - Chief Financial Officer

Conference Call Participants

Chris McGinnis - Sidoti

Operator

Welcome to the ScanSource Quarterly Earnings Conference Call. All lines have been placed in a listen-only mode until the question-and-answer session. Today's call is being recorded. If anyone has any objections, you may disconnect at this time.

I would now like to turn the call over to Mary Gentry, Senior Vice President, Treasurer and Investor Relations. Ma'am, you may begin.

Mary Gentry

Good afternoon and thank you for joining us. Joining me on the call today are Mike Baur, our Chairman and CEO; John Eldh, our President; and Steve Jones, our Chief Financial Officer. We will be reviewing our operating results for the quarter and then take your questions. We posted an earnings infographic that accompanies our comments and webcast in the Investor Relations section of our website.

Let me remind you that certain statements in our press release in the earnings infographic and on this call are forward-looking statements. These statements are subject to risks and uncertainties that could cause results to differ materially from such statements. These risks and uncertainties include, but are not limited to, those factors identified in the earnings release we put out today and in ScanSource's Form 10-K for the year ended June 30, 2021, as filed with the SEC.

Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. ScanSource disclaims any duty to update any forward-looking statements to reflect actual results or changes in expectations except as required by law.

During our call, we will discuss both GAAP and non-GAAP results and have provided reconciliations between these amounts in the earnings infographic and in our press release. These reconciliations also can be found on our website and have been filed with our Form 8-K filed today.

I'll now turn the call over to Mike.

Mike Baur

Thanks Mary and thanks everyone for joining us today. Our exceptional third quarter performance underscores the strength of our hybrid distribution strategy and outstanding execution by our people. For the quarter, we delivered 16% net sales growth and record non-GAAP EPS for the quarter and for the trailing 12-month period. We had strong demand in our Specialty Technology Solutions and Modern Communications & Cloud segments. Excellent execution by our people drove our top line growth and profitability ahead of expectations. We are raising our fiscal year 2022 outlook and now expect net sales growth of at least 10% and adjusted EBITDA of at least $165 million.