TD Synnex tumbles after reporting lower gross margin

TD SYNNEX

24/09/2026 15:15

** Shares of U.S.-based IT distributor TD Synnex SNX.N fall 11.4% to $255 
** Co posts Q3 gross margin of 6.61%, down from 7.22%, a year ago 
** Gross margin was pressured by a higher mix of lower-margin infrastructure and AI-related sales, including large AI rack programs within co's Hyve infrastructure business - CFO said in an earnings call
** SNX posts Q3 adj. EPS of $5.68 and revenue of $21.56 bln, compared to analysts' estimates of $4.63 and $18.9 bln - data compiled by LSEG  
** 11 of 13 brokerages rate the stock "buy" or higher and two "hold"; median PT is $330
** Including session's move, stock up 69.9% 

(Reporting by Anand Gopal in Bengaluru)
((AnandGopal.R@thomsonreuters.com))