2023-06-27 08:25:18 ET
- Synnex press release ( NYSE: SNX ): Q2 Non-GAAP EPS of $2.43 misses by $0.12 .
- Revenue of $14.06B (-7.9% Y/Y) misses by $360M .
- Rich Hume, CEO of TD SYNNEX said, “The resiliency of our business model was evident, as we expanded margins, generated significant free cash flow, and returned $93 million to shareholders. As we enter the second half of our fiscal year, we are focused on pursuing an additional $50 million in cost savings and accelerating our shareholder returns via opportunistic share repurchases.”
- Q3 Outlook : Revenue is expected to be in the range of $13.5 billion to $14.5 billion vs. consensus of $14.99B; Non-GAAP gross billings are expected to be in the range of $18.0 billion to $19.3 billion; Net income is expected to be in the range of $111 million to $158 million and on a non-GAAP basis, net income is expected to be in the range of $206 million to $253 million; Diluted EPS is expected to be in the range of $1.19 to $1.69 and on a non-GAAP basis, diluted EPS is expected to be in the range of $2.20 to $2.70 vs. consensus of $2.76, based on estimated outstanding diluted weighted average shares of 93.0 million.
- Shares down 7% PM.
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Synnex Non-GAAP EPS of $2.43 misses by $0.12, revenue of $14.06B misses by $360M