SYNNEX Corp. (SNX) Tops Q1 EPS by 15c, Revenues Miss; No 2Q Guidance Due to COVID-19 Outbreak
SYNNEX Corp. (NYSE: SNX) reported Q1 EPS of $3.26, $0.15 better than the analyst estimate of $3.11. Revenue for the quarter came in at $5.26 billion versus the consensus estimate of $5.39 billion.
"While we are pleased with our Q1 results and the strong execution by Technology Solutions and Concentrix, the well-being of our associates and the greater community around the world are top of mind," said Dennis Polk, SYNNEX President and CEO. "We are in an unchartered territory, as the COVID-19 health emergency has impacted nearly every industry and supply chain we support. Our focus is on supporting the critical needs of our associates, partners and customers."
Second Quarter Fiscal 2020 Outlook
Due to the highly fluid, unprecedented and unpredictable current environment, SYNNEX will not be providing financial guidance for the second quarter of fiscal 2020. More information on the SYNNEX business will be provided during its conference call today.
"I am confident in our abilities to navigate the most challenging of times. Our teams have proven to be extraordinary in their efforts to date and our leadership team can't thank them enough," said Dennis Polk, SYNNEX President and CEO. "Our underlying business model remains strong and resilient; we expect to leverage our speed and agility to tackle what's ahead."
For earnings history and earnings-related data on SYNNEX Corp. (SNX) click here.
