TD Synnex beats Q1 earnings estimates on distribution, Hyve strength

TD Synnex

31/03/2026 12:14

Overview

Global IT distributor's fiscal Q1 revenue rose 18%, beating analyst expectations

Adjusted EPS for fiscal Q1 increased 69% yr/yr, beating analyst expectations

Company returned $118 mln to shareholders via share repurchases and higher dividend

Outlook

TD SYNNEX sees Q2 revenue between $16.1 bln and $16.9 bln

Company expects Q2 non-GAAP diluted EPS of $3.75 to $4.25

TD SYNNEX projects Q2 non-GAAP gross billings of $24.6 bln to $25.6 bln

Result Drivers

BROAD-BASED BUSINESS STRENGTH - Co said strong performance across both its distribution and Hyve Solutions businesses drove Q1 results

STRATEGIC EXECUTION - Co attributed results to execution and momentum established over the past year, per CEO Patrick Zammit

Company press release: ID:nBw6lHCGBa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$17.16 bln
$15.59 bln (9 Analysts)
Q1 Adjusted EPS
Beat
$4.73
$3.31 (11 Analysts)
Q1 EPS
$4.04
Q1 Adjusted Net Income
Beat
$383 mln
$263.93 mln (8 Analysts)
Q1 Net Income
$327 mln
Q1 Adjusted Operating Income
Beat
$590 mln
$432.33 mln (9 Analysts)
Q1 Operating Income
$489 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the computer hardware peer group is "buy"

Wall Street's median 12-month price target for TD Synnex Corp is $180.00, about 12.4% above its March 30 closing price of $160.13

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)