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TD SYNNEX Q3 Adj. EPS Tops Estimates; Guides Q4 Below Estimates
(RTTNews) - TD SYNNEX Corp. (SNX) reported Tuesday that net income for the third quarter declined to $139.3 million or $1.49 per share from $148.8 million or $1.56 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $2.78 per share, compared to $2.74 per share in the year-ago quarter.
Revenue for the quarter decreased 9.1 percent to $13.96 billion from $15.36 billion in the same quarter last year. Revenues were down 10.2 percent in constant currency.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.48 per share on revenues of $14.11 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the fourth quarter, the company expects earnings in a range of $1.25 to $1.75 per share and adjusted earnings in a range of $2.40 to $2.90 per share on revenues between $14.0 billion and $15.0 billion.
The Street is looking for earnings of $2.95 per share on revenues of $15.21 billion for the quarter.
TD SYNNEX also announced that its Board of Directors declared a quarterly cash dividend of $0.35 per common share, payable on October 27, 2023 to stockholders of record as of the close of business on October 13, 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
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