TD Synnex shares climb after Q1, forecast beat

TD Synnex

31/03/2026 13:36

** IT services provider TD Synnex SNX.N shares up 2.4% premarket at $163.99 after fiscal Q1 results and current-qtr forecast top Wall Street's expectations

** Fremont, California-based firm on Tues posts adj EPS of $4.73, up from $2.80 a yr-ago, and well above LSEG estimate of $3.31

** Rev in qtr increased 18% y/y to $17.2 bln compared to analysts' avg estimate of $15.6 bln

** "Our results reflect strong performance across both our distribution and Hyve businesses, as well as the continued alignment between our strategy and the needs of our partners," CEO Patrick Zammit said in a statement

** For Q2, co forecasts adj EPS of $3.75-$4.25 and rev of $16.1-$16.9 bln; Consensus views are adj EPS of $3.45 and  rev of $15.8 bln

** Through Mon close, SNX shares up 6.6% YTD, outperforming 2.8% advance in S&P 400 Information Technology index .SPMDCT

** 11 of 13 analysts covering SNX rate the stock "strong buy" or "buy", 2 "hold"; median PT $180 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))