TD SYNNEX (NYSE: SNX) posted record third-quarter results on Thursday, beating revenue and earnings forecasts, but shares dipped despite strong growth and a 10% dividend increase.
The company reported revenue of $15.65 billion, which not only surpassed the analysts’ expectations of $15.11 billion but also marked a 6.6% increase from the previous year’s figure of $14.69 billion.
TD SYNNEX reported adjusted earnings of $3.58 per share for the quarter, comfortably exceeding the forecasted $3.05 per share. This performance represents a notable 25.2% growth compared to the earnings of $2.86 per share recorded a year ago.
Furthermore, adjusted gross billings increased 12.1% year over year to $22.73 billion, surpassing the high end of the company’s outlook.
“Our third quarter non-GAAP gross billings and diluted earnings per share established new records for our company,” said Patrick Zammit, CEO of TD SYNNEX. “Our performance is a clear result of our teams’ strong execution, a differentiated go-to-market strategy, and a global, end-to-end portfolio of products and services that is unrivaled.”
Additionally, the company announced that its board has approved a quarterly cash dividend of 44 cents per share, up 10% year over year, payable on October 31, 2025, to shareholders of record as of October 17.
Outlook
Looking ahead to the fourth quarter of 2025, the company anticipates adjusted earnings to range between $3.45 and $3.95 per share. This forecast is higher than the market’s expectation of $3.33 per share.
The revenue outlook for the coming quarter is projected to be between $16.50 billion and $17.30 billion, which also eclipses the anticipated $15.99 billion.
The company stated that adjusted gross billings for the next quarter are projected to be between $23 billion and $24 billion.
Price Action: SNX shares were trading lower by 3.26% to $145.44 premarket at last check Thursday.
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