SYNNEX Earnings: Everything You Must Know Now
SYNNEX Corp. (NYSE:SNX) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
SYNNEX Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10% to $0.81 in the quarter versus EPS of $0.90 in the year-earlier quarter.
Revenue: Rose 4.37% to $2.59 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: SYNNEX Corp. reported adjusted EPS income of $0.81 per share. By that measure, the company missed the mean analyst estimate of $0.81. It beat the average revenue estimate of $2.5 billion.
Quoting Management: “I am pleased to report healthy quarterly results highlighted by stronger than expected sales in our distribution segment, and continued strong growth in our Concentrix business,” stated Kevin Murai, President and Chief Executive Officer.
Key Stats (on next page)…
Revenue increased 5.3% from $2.46 billion in the previous quarter. EPS decreased 7.95% from $0.88 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.05 to a profit $0.96. For the current year, the average estimate has moved down from a profit of $4.09 to a profit of $3.87 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)