TD SYNNEX Q3 Results Top Estimates; Guides Q4 Adj. EPS Above Estimates

(RTTNews) - TD SYNNEX Corp. (SNX) reported Thursday that net income for the third quarter increased to $178.6 million or $2.08 per share from $139.3 million or $1.49 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $2.86 per share, compared to $2.78 per share in the year-ago quarter.

Revenue for the quarter increased 5.2 percent to $14.68 billion from $13.96 billion in the same quarter last year. Revenues were up 5.6 percent in constant currency.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.80 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 $1.90 to $2.40 per share and adjusted earnings in a range of $2.80 to $3.30 per share on revenues between $14.9 billion and $15.7 billion.

The Street is looking for earnings of $2.68 per share on revenues of $15.15 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 October 25, 2024 to stockholders of record as of the close of business on October 11, 2024.

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