Core Viewpoint - TD SYNNEX Corporation is expected to report a slight increase in quarterly earnings and revenue for the fourth quarter of 2024, with analysts projecting earnings of 94 cents per share and revenue of $1.99 billion, compared to 93 cents and $1.96 billion in the previous year [1] Group 1: Earnings and Revenue Expectations - The earnings report for TD SYNNEX is scheduled for January 8, 2025, before market opening [1] - Analysts anticipate a quarterly earnings increase to 94 cents per share, up from 93 cents in the same quarter last year [1] - The consensus revenue estimate for the quarter is $1.99 billion, an increase from $1.96 billion year-over-year [1] Group 2: Analyst Ratings and Price Target - Morgan Stanley analyst Erik Woodring has maintained an Overweight rating on TD SYNNEX while lowering the price target from $181 to $177 [2] - The company currently offers an annual dividend yield of 1.15%, translating to a quarterly dividend of 44 cents per share, or $1.76 annually [2] Group 3: Dividend Yield Calculation - To achieve a monthly income of $500 from dividends, an investment of approximately $522,054 or around 3,409 shares is required [3] - For a more modest monthly income of $100, an investment of about $104,441 or around 682 shares is necessary [3] - The dividend yield is calculated by dividing the annual dividend payment by the stock's current price, which can fluctuate based on stock price changes [4] Group 4: Impact of Stock Price on Dividend Yield - Changes in stock price directly affect the dividend yield; for instance, if a stock's price increases, the yield decreases, and vice versa [4] - If a company increases its dividend while the stock price remains constant, the yield will increase [5] - TD SYNNEX shares experienced a slight decline of 0.2%, closing at $153.14 [5]

TD SYNNEX Corporation (NYSE:SNX) will release earnings results for the fourth quarter before the opening bell on Thursday, Jan. 8, 2025.Analysts expect the company to report quarterly earnings at 94 cents per share, up from 93 cents per share in the year-ago period. The consensus estimate for TD Synnex's quarterly revenue is $1.99 billion, up from $1.96 billion a year earlier, according to data from Benzinga Pro.On Dec. 17, Morgan Stanley analyst Erik Woodring maintained TD Synnex with an Overweight rating ...

Group 1 - The AI trade is currently dominated by large companies, leading to smaller firms like Synnex Corp. (SNX) being overlooked despite their potential [1] - Morgan Stanley has identified SNX as one of their top "Overweight" positions, indicating strong confidence in the stock's performance [1][2] - SNX benefits from the performance of OEMs like HP and Dell, as it distributes their products without being affected by rising memory costs, which are expected to be a significant issue in 2026 [2] Group 2 - Synnex Corp. is a global IT distributor founded in 1980, operating in over 100 countries and providing essential technology services and products [3] - The stock has increased by 32% over the past year, outperforming the S&P 500 Industrials' return of 16.92%, but still lags behind many AI stocks that have seen much higher returns [4] - SNX trades at a forward P/E of 11.55x, which is nearly 14% above its five-year average but significantly lower than the IT sector average of 23.8x, making it an attractive valuation compared to trending AI stocks [5]

Core Insights - TD SYNNEX has been awarded multiple 2025 AWS Partner Awards, including Distributor Partner of the Year for North America and Latin America, recognizing its significant contributions in revenue and partner outreach [1][2] - The awards were announced during the AWS re:Invent 2025 Partner Awards Gala, highlighting partners that have excelled in specialization, innovation, and customer support [2][5] - TD SYNNEX was also recognized as a finalist for the Global Distributor Partner of the Year, showcasing its global reach and strong relationships within the AWS ecosystem [3] Company Achievements - TD SYNNEX has multiple specializations in AWS services, including Migration and Modernization, Education and Government Consulting, and Cloud Operations Software competencies [3] - The company supports AWS partners through its global cloud platform, StreamOne®, which provides end-to-end management and integrated procurement options [3] - Earlier in the year, TD SYNNEX entered into a Strategic Collaboration Agreement with AWS to accelerate cloud and AI adoption across North America, Latin America, and the Caribbean [4] Recognition and Evaluation - The Geography and Global AWS Partner Awards included a self-nomination process, with submissions reviewed by a third-party, Canalys, emphasizing customer success use cases [5][6] - Award categories were evaluated using unique metrics to measure AWS Partners' performance, ensuring objective and accurate assessments [6]

Core Insights - The FPA Queens Road Small Cap Value Fund reported a return of 7.46% in Q3 2025, underperforming the Russell 2000 Value Index which returned 12.60% [1] - For the first three quarters of 2025, the fund achieved a return of 13.77%, outperforming the index's 9.04% [1] - The fund's investment strategy focuses on a disciplined approach, expecting to perform better in down markets and lag in speculative environments [1] Company Highlights: TD SYNNEX Corporation - TD SYNNEX Corporation is recognized as the largest IT distributor globally, evolving from traditional hardware distribution to providing outsourced sales and IT consulting services [3] - The company reported a one-month return of -5.70% but has seen a 52-week gain of 20.89%, with shares closing at $146.24 and a market capitalization of $12.06 billion as of November 21, 2025 [2] - In Q3 2025, TD SYNNEX Corporation reported revenue of $15.7 billion, reflecting a 7% year-over-year increase [4] - The company's growth is driven by its Advanced Solutions portfolio, which has rebounded to double-digit billings growth, focusing on software and security solutions [3] - Current valuation of TD SYNNEX shares is approximately 12 times this year's earnings, indicating potential attractiveness for investors [3] Hedge Fund Interest - As of the end of Q2 2025, 36 hedge fund portfolios held TD SYNNEX Corporation, an increase from 35 in the previous quarter [4]

Group 1 - Brighthouse Financial (BHF) has been added to the Zacks Rank 5 (Strong Sell) List, with a significant downward revision of 67.6% in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - AkzoNobel (AKZOY), a leading global paints and coatings company, has experienced a 10.1% downward revision in its current year earnings estimate over the last 60 days [2] - Climb Global Solutions, Inc. (CLMB), specializing in emerging and disruptive technologies, has seen its current year earnings estimate revised downward by almost 7.6% in the past 60 days [2]

Group 1 - Alta Equipment Group (ALTG) has been added to the Zacks Rank 5 (Strong Sell) List due to a significant downward revision of its current year earnings estimate by approximately 48.6% over the last 60 days [1] - Chagee Holdings Limited - Sponsored ADR (CHA) is also on the Zacks Rank 5 (Strong Sell) List, with its current year earnings estimate revised downward by 14.7% in the past 60 days [2] - Climb Global Solutions, Inc. (CLMB) has seen its current year earnings estimate revised downward by nearly 7.6% over the last 60 days, leading to its inclusion in the Zacks Rank 5 (Strong Sell) List [2]

Core Insights - TD SYNNEX has been awarded Global Distributor of the Year and Americas Distributor of the Year at Cisco Partner Summit 2025 for its achievements in the U.S. market [1][2] - The company also received recognition as Distributor of the Year for the EMEA region, specifically in Norway, and in Germany and Norway [1] - In the Americas, TD SYNNEX was honored as Distributor of the Year for Brazil and Mexico, and recognized as Social Impact Partner of the Year in Canada [1] Company Achievements - The awards reflect TD SYNNEX's commitment to delivering meaningful outcomes for partners through collaboration with Cisco [3] - The recognition highlights the company's efforts in driving significant value and fostering innovation across Cisco's portfolio in Latin America [3] - The multiple awards received globally and in Europe underscore the strong partnership between TD SYNNEX and Cisco, showcasing the dedication of teams to meet customer needs [3] Company Overview - TD SYNNEX is a leading global distributor and solutions aggregator for the IT ecosystem, serving over 150,000 customers in more than 100 countries [4] - The company employs 23,000 individuals and partners with over 2,500 technology vendors, focusing on high-growth technology segments such as cloud, cybersecurity, AI, and IoT [4] - TD SYNNEX aims to maximize the value of technology investments and create growth opportunities while acting as a responsible corporate citizen [5]

Financial Data and Key Metrics Changes - Gross billings in Q3 2025 increased by 8% to $504.6 million compared to $465.2 million in the prior year quarter [12] - Net sales in Q3 2025 increased by 35% to $161.3 million compared to $119.3 million, driven by organic growth and contributions from the acquisition of Douglas Stewart Software [12] - Net income in Q3 2025 was $4.7 million or $1.02 per diluted share, down from $5.5 million or $1.19 per diluted share in the prior year [16] - Adjusted EBITDA in Q3 2025 was $10.9 million, slightly down from $11.1 million in the prior year [18] Business Line Data and Key Metrics Changes - Distribution segment gross billings increased by 9% to $481.9 million, while solutions segment gross billings decreased by 5% to $22.7 million [12] - Gross profit as a percentage of gross billings was 5.1%, slightly down from 5.2% in the prior year [13] Market Data and Key Metrics Changes - The European team showed strong execution, particularly in the artificial intelligence market, with the launch of Climb AI Academy to support partners [9][10] - The cybersecurity space continues to lead growth, accounting for over 60% of the company's business [22] Company Strategy and Development Direction - The company is focused on building operational momentum and executing strategic initiatives, including evaluating acquisition opportunities to enhance capabilities and market presence [19] - The company aims to deepen partnerships with existing vendors while selectively adding new ones to maintain innovation and market differentiation [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in closing out 2025 strong, with expectations for another year of record results [11] - There are no significant concerns regarding tariffs impacting the business, although currency fluctuations are monitored [30] Other Important Information - The Board of Directors declared a quarterly dividend of $0.17 per share, payable on November 17, 2025 [19] - The company has a robust balance sheet with cash and cash equivalents of $49.8 million as of September 30, 2025 [18] Q&A Session Summary Question: How would you characterize the quarter? Was the growth broad-based across your top 20? - Management indicated that there were no lumpy deals and organic growth was strong across the majority of vendors [21] Question: Were there any early pay price discounts that impacted margin? - No new relationships on early pay discounts were noted, and the percentage of gross billings remained consistent [24] Question: Is there a similar training program in the U.S. as the one in Europe? - Currently, there is no similar program in the U.S., but plans to roll out a training program are in place [25] Question: What is the impact of tariffs on your business? - There is no significant impact from tariffs, but currency fluctuations are considered [30] Question: Can you explain the notable declines in accounts receivable and accounts payable? - The changes are typical for the business and are expected to normalize in the next quarter [31] Question: What is the seasonality of orders now with DSS? - Seasonality is influenced by the education sector, with strong buying occurring in the summer [38] Question: What caused the 5% decrease in the solutions segment gross billings? - The decrease is attributed to fluctuations in the U.S. side of the business, which has a small team and large customers [40] Question: What are the acquisition-related costs in the quarter? - The costs are related to evaluating potential acquisitions, with a focus on larger deals moving forward [42][45] Question: What is the company's vision for future M&A? - The company is looking at opportunities ranging from $10 million to $40 million, focusing on strategic acquisitions that enhance technical capabilities [48][52]

Core Insights - Conestoga Capital Advisors reported strong equity market performance in Q3 2025, with their Micro-Cap Composite returning 11.7% net-of-fees, while the Russell Microcap Growth Index returned 19.9% [1] Company Overview - Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added IT distribution and solutions company, focusing on emerging and cloud-based technologies [2][3] - The company operates with a focused lineup of under 100 brands, serving approximately 7,000 customers across North America and Western Europe [3] Financial Performance - Climb Global Solutions, Inc. reported a one-month return of -6.59% and a 52-week gain of 24.54%, with shares closing at $129.96 and a market capitalization of $600.052 million as of October 21, 2025 [2] - In Q2 2025, the company achieved net sales of $159.3 million, a significant increase from $92.1 million in Q2 2024 [4] Growth Potential - The company is experiencing organic revenue growth of 13-15%, with 80% of its revenue being recurring [3] - More than half of Climb Global Solutions' revenue comes from security software, an area expected to see continued growth due to increasing threats from artificial intelligence [3] Hedge Fund Interest - Climb Global Solutions, Inc. was held by 13 hedge fund portfolios at the end of Q2 2025, an increase from 9 in the previous quarter [4]