TD SYNNEX (SNX) Q3 Earnings and Revenues Surpass Estimates

Core Viewpoint - TD SYNNEX reported quarterly earnings of $2.86 per share, exceeding the Zacks Consensus Estimate of $2.80 per share, and showing an increase from $2.78 per share a year ago, indicating a positive earnings surprise of 2.14% [1] Financial Performance - The company achieved revenues of $14.68 billion for the quarter ended August 2024, surpassing the Zacks Consensus Estimate by 4%, and up from $13.96 billion in the same quarter last year [2] - Over the last four quarters, TD SYNNEX has exceeded consensus EPS estimates three times, but has only topped revenue estimates once [2] Stock Performance and Outlook - TD SYNNEX shares have increased approximately 9% since the beginning of the year, while the S&P 500 has gained 20%, indicating underperformance relative to the broader market [3] - The future performance of the stock will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $3.20, with expected revenues of $15.12 billion, and for the current fiscal year, the EPS estimate is $11.72 on revenues of $57.17 billion [7] Industry Context - The Electronics - Miscellaneous Products industry, to which TD SYNNEX belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, suggesting potential challenges ahead [8]