SYNNEX Corp. (SNX) Tops Q3 EPS by $1.07, Revenues Beat; Offers 4Q EPS/Revenue Guidance Above Consensus
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EPS Growth %: +15.6%
Financial Fact:
Net income: 58.7M
Today's EPS Names:
SEIC, OSBC, USAP, More
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SYNNEX Corp. (NYSE: SNX) reported Q3 EPS of $3.33, $1.07 better than the analyst estimate of $2.26. Revenue for the quarter came in at $6.47 billion versus the consensus estimate of $5.7 billion.
Third Quarter Fiscal 2020 Highlights
"Our strong third quarter performance is a reflection of our resiliency, our ongoing focus on serving our partners and clients and the continued dedication of our associates on the growth and improvement of our business during these unprecedented times," said Dennis Polk, SYNNEX President and CEO. "We remain on track with the proposed spin-off of Concentrix and believe this will result in incremental value for all of our stakeholders."
GUIDANCE:
SYNNEX Corp. sees Q4 2020 EPS of $3.68-$3.93, versus the consensus of $3.36. SYNNEX Corp. sees Q4 2020 revenue of $6.45-6.65 billion, versus the consensus of $6.04 billion.
- Revenue is expected to be in the range of $6.45 billion to $6.65 billion.
- Net income is expected to be in the range of $153.0 million to $166.0 million and on a non-GAAP basis, net income is expected to be in the range of $190.5 million to $203.5 million.
- Diluted earnings per share is expected to be in the range of $2.95 to $3.20 and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $3.68 to $3.93, based on estimated outstanding diluted weighted average shares of 51.5 million.
- After-tax amortization of intangibles is expected to be $35.2 million, or $0.68 per share.
- After-tax acquisition-related and integration expense is expected to be $2.3 million, or $0.04 per share.
For earnings history and earnings-related data on SYNNEX Corp. (SNX) click here.
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