TD SYNNEX Corp (NYSE:SNX) on Thursday reported upbeat fiscal third-quarter 2026 results and issued stronger-than-expected guidance.
Adjusted EPS rose 59% year over year to $5.68, beating the $4.70 estimate. Revenue jumped 37.7% to $21.56 billion, beating the $18.91 billion estimate.
For the fourth quarter, TD SYNNEX expects adjusted EPS of $5.65 to $6.15, above the $4.87 estimate. Revenue is expected at $21.8 billion to $22.6 billion, also above the $19.36 billion consensus estimate. Non-GAAP gross billings are projected at $31.4 billion to $32.4 billion.
“We delivered another record quarter, with Distribution and Hyve both performing above our expectations and growing above market,” said Patrick Zammit, CEO of TD SYNNEX. “Enterprise AI adoption is progressing toward broader production deployments. Data center modernization remains a priority as organizations prepare for next-generation infrastructure requirements, while AI is driving new security, governance, and compliance requirements across technology environments. We believe these trends expand our opportunities across Distribution and Hyve and support our confidence in our long-term growth potential.”
TD SYNNEX shares gained 1.1% to trade at $262.39 on Friday.
These analysts made changes to their price targets on TD SYNNEX following earnings announcement.
- Morgan Stanley analyst Erik Woodring maintained the stock with an Overweight rating and raised the price target from $334 to $359.
- UBS analyst David Vogt maintained the stock with a Buy and raised the price target from $352 to $379.
Considering buying SNX stock? Here’s what analysts think:
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