IT distribution giant TD SYNNEX (NYSE: SNX) will be reporting results this Tuesday before market hours. Here’s what to look for.
TD SYNNEX missed analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $14.53 billion, up 4% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates.
Is TD SYNNEX a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting TD SYNNEX’s revenue to grow 2.6% year on year to $14.32 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $2.75 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. TD SYNNEX has missed Wall Street’s revenue estimates five times over the last two years.
Looking at TD SYNNEX’s peers in the tech hardware & electronics segment, only Jabil has reported results so far. It beat analysts’ revenue estimates by 11.2%, delivering year-on-year sales growth of 15.7%. The stock traded up 13.1% on the results.
Read our full analysis of Jabil’s earnings results here.Investors in the tech hardware & electronics segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. TD SYNNEX’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $135.99 (compared to the current share price of $125.18).
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