Tech Data (TECD) Tops Q1 EPS by 11c; Guides Q2 Above the Street
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Financial Fact:
Cost of products sold: 6.17B
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Tech Data (NASDAQ: TECD) reported Q1 EPS of $1.05, $0.11 better than the analyst estimate of $0.94. Revenue for the quarter came in at $5.96 billion versus the consensus estimate of $6 billion.
“We are pleased to report a strong start to fiscal year 2017,” said Robert M. Dutkowsky, chief executive officer. “In Q1, our teams capitalized on pockets of demand and delivered above-market sales growth. Higher sales, coupled with strong margin and expense management, resulted in double-digit growth in non-GAAP operating income, non-GAAP net income, and non-GAAP earnings per share. In addition, we generated $276 million in cash from operations and earned a return on invested capital of 14 percent – a 300 basis point improvement over the prior year period. Tech Data’s Q1 results are a testament to the strength of our geographic, vendor, product and customer portfolios and to the flexibility of our business model. Our diverse, end-to-end portfolio of IT Solutions enables us to capture opportunities in the evolving IT marketplace, deliver differentiated value to our customers and vendor partners, and produce strong results for our shareholders.”
GUIDANCE:
Tech Data sees Q2 2017 EPS of $1.39-$1.49, versus the consensus of $1.35. Tech Data sees Q2 2017 revenue of $6.55-6.75 billion, versus the consensus of $6.38 billion.
For earnings history and earnings-related data on Tech Data (TECD) click here.
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