TD SYNNEX Q1 Adj. EPS Tops Estimates; Guides Q2 In Line With Estimates

RTTNews | vor 401 Tagen
TD SYNNEX Q1 Adj. EPS Tops Estimates; Guides Q2 In Line With Estimates

(RTTNews) - TD SYNNEX Corp. (SNX) reported Tuesday that net income for the first quarter grew to $172.1 million or $1.93 per share from $167.0 million or $1.75 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $2.99 per share, compared to $2.93 per share in the year-ago quarter.

Revenue for the quarter decreased 7.6 percent to $13.98 billion from $15.13 billion in the same quarter last year. Revenues were down 8.3 percent in constant currency.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.84 per share on revenues of $14.36 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the second quarter, the company expects earnings in a range of $1.59 to $2.09 per share and adjusted earnings in a range of $2.50 to $3.00 per share on revenues between $13.3 billion and $14.9 billion.

The Street is looking for earnings of $2.78 per share on revenues of $14.25 billion for the quarter.

TD SYNNEX also announced that its Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on April 26, 2024 to stockholders of record as of the close of business on April 12, 2024.

Further, TD SYNNEX Board of Directors has approved a share repurchase program of up to $2 billion of its common stock, supplementing the existing program of which approximately $197 million remains.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
U.S. Construction Spending Unexpectedly Falls 0.5% In March

U.S. Construction Spending Unexpectedly Falls 0.5% In March

Construction spending in the U.S. unexpectedly decreased in the month of March, the Commerce Department revealed in a report released on Thursday. The Commerce Department said construction spending fell by 0.5 percent to an annual rate of $2.196 trillion in March after climbing by 0.6 percent to a revised rate of $2.207 trillion in February.
RTTNews | vor 1Std 27 Minuten
U.S. Manufacturing Index Dips Slightly Further Into Contraction Territory In April

U.S. Manufacturing Index Dips Slightly Further Into Contraction Territory In April

The Institute for Supply Management released a report on Thursday showing a slight decrease by its reading on U.S. manufacturing activity in the month of April. The ISM said its manufacturing PMI edged down to 48.7 in April after slipping to 49.0 in March, with a reading below 50 indicating contraction. Economists had expected the index to dip to 48.0.
RTTNews | vor 1Std 40 Minuten
U.S. Jobless Claims Rise Much More Than Expected To Two-Month High

U.S. Jobless Claims Rise Much More Than Expected To Two-Month High

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by much more than expected in the week ended April 26th. The Labor Department said initial jobless claims climbed to 241,000, an increase of 18,000 from the previous week's revised level of 223,000.
RTTNews | vor 1Std 51 Minuten