TD SYNNEX Corporation (SNX) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company’s earnings totaled $167.020 million, or $1.75 per share. This compares with $132.324 million, or $1.37 per share, in last year’s first quarter.
Excluding items, TD SYNNEX Corporation reported adjusted earnings of $279.235 million or $2.93 per share for the period.
Analysts, on average, had expected the company to earn $2.85 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 2.2% to $15.125 billion from $15.469 billion last year.
Looking ahead, TD SYNNEX projects earnings and sales for the second quarter, below analysts’ estimates.
For the next quarter, the company expects net income of $105 million – $152 million, or $1.10-$1.60 per share. Excluding items, SNX foresees earnings of $214 million – $261 million or $2.25-$2.75 per share. Ten analysts, on average, polled by Thomson Reuters project the company to report income per share of $2.82, for the period. Analysts’ estimates typically exclude special items.
For the next quarter, the firm expects sales of $14 billion – $15 billion. Analysts expect the company to register sales of $15.74 billion for the period.
SYNNEX Corporation earnings at a glance (GAAP) :
-Earnings (Q1): $167.020 Mln. vs. $132.324 Mln. last year.
-EPS (Q1): $1.75 vs. $1.37 last year.
-Analyst Estimate: $2.85
-Revenue (Q1): $15.125 Bln vs. $15.469 Bln last year.
Next quarter EPS guidance: $2.25 – $2.75
Next quarter revenue guidance: $14 Bln – $15 Bln
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