TD SYNNEX Q1 Adj. EPS Tops Estimates; Guides Q2 In Line With Estimates
(RTTNews) - TD SYNNEX Corp. (SNX) reported Tuesday that net income for the first quarter grew to $172.1 million or $1.93 per share from $167.0 million or $1.75 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $2.99 per share, compared to $2.93 per share in the year-ago quarter.
Revenue for the quarter decreased 7.6 percent to $13.98 billion from $15.13 billion in the same quarter last year. Revenues were down 8.3 percent in constant currency.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.84 per share on revenues of $14.36 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the second quarter, the company expects earnings in a range of $1.59 to $2.09 per share and adjusted earnings in a range of $2.50 to $3.00 per share on revenues between $13.3 billion and $14.9 billion.
The Street is looking for earnings of $2.78 per share on revenues of $14.25 billion for the quarter.
TD SYNNEX also announced that its Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on April 26, 2024 to stockholders of record as of the close of business on April 12, 2024.
Further, TD SYNNEX Board of Directors has approved a share repurchase program of up to $2 billion of its common stock, supplementing the existing program of which approximately $197 million remains.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
TD SYNNEX Q3 Adj. EPS Tops Estimates; Guides Q4 Below Estimates
TD SYNNEX Q4 Results Top Estimates; Guides Q1 In Line With Estimates; Boosts Dividend 17%
TD SYNNEX Q2 Results Top Estimates; Reaffirms FY22 Adj. EPS Outlook
China Leaves Key Interest Rates Unchanged
Sensex, Nifty Little Changed; IT Stocks Tumble After H-1B Visa Fee Increase
Australian Market Trims Early Gains In Mid-market
Asian Markets Trade Mixed
