SNX's fiscal third-quarter performance reflects benefits from growth in the company's Advanced Solutions and Endpoint Solutions portfolios.
TD SYNNEX Corporation (NYSE:SNX ) Q3 2024 Results Conference Call September 26, 2024 9:00 AM ET Company Participants David Jordan - Chief Financial Officer of Americas and Head of Investor Relations Patrick Zammit - Chief Executive Officer Marshall Witt - Chief Operating Officer Conference Call Participants David Vogt - UBS Keith Housum - Northcoast Research David Paige - RBC Capital Markets Adam Tindle - Raymond James Michael Ng - Goldman Sachs Joseph Cardoso - JPMorgan Ruplu Bhattacharya - Bank of America George Wang - Barclays Alek Valero - Loop Capital Operator Good morning. My name is Audra, and I will be your conference operator today.
Although the revenue and EPS for TD SYNNEX (SNX) give a sense of how its business performed in the quarter ended August 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
TD SYNNEX (SNX) came out with quarterly earnings of $2.86 per share, beating the Zacks Consensus Estimate of $2.80 per share. This compares to earnings of $2.78 per share a year ago.
TD SYNNEX Corporation SNX will release earnings results for its third quarter, before the opening bell on Thursday, Sept. 26.
SNX's fiscal Q3 performance is expected to have been affected by a soft IT spending environment amid global recessionary concerns.
Get a deeper insight into the potential performance of TD SYNNEX (SNX) for the quarter ended August 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
TD Synnex Corporation presents itself as a distributor and solutions aggregator for the information technology industry. Cost optimization efforts and new $2.0 billion share repurchase program may lead to FCF growth and draw investor attention. The company is expected to invest in global hybrid cloud market and artificial intelligence for future net sales growth.
TD SYNNEX (SNX) reported earnings 30 days ago. What's next for the stock?
I recommend a Buy rating for TD Synnex Corp. due to growth tailwinds in PC demand, AI PCs, and IT complexity from AI adoption. SNX distributes IT hardware and software solutions for the IT ecosystem, working with industry leaders like Apple, AWS, Cisco, and Google. The recent share price drop is likely due to profit taking and miss in guidance.
While an increase in gross-to-net revenue adjustments weighs on TD SYNNEX's (SNX) Q2 revenues, efficient cost management aids profitability.
The headline numbers for TD SYNNEX (SNX) give insight into how the company performed in the quarter ended May 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.