Synnex Lifts Q4 Outlook

(RTTNews) - Synnex Corp. (SNX) Monday lifted its outlook for the fourth quarter, helped mainly by strong performance at business segments and stable market conditions.

For the fourth quarter, Synnex now expects revenues of $5.5 billion to $5.6 billion, up from previous outlook of $5.2 billion to $5.4 billion.

The company now expects adjusted earnings of $3.20 to $3.30 per share, above the previously announced outlook range of $2.90 to $3.10 per share.

Analysts polled by Thomson Reuters currently estimate revenues of $5.34 billion.

"Excellent execution in both of our business segments and stable market conditions led to our very strong performance," stated CEO Dennis Polk.

"Our Technology Solutions division saw solid results across the board while our Concentrix business is executing to plan on the integration of Convergys, with excellent performance from the underlying businesses. We are delighted that results for the fourth quarter of 2018 will exceed our expectations."

Synnex plans to announce fourth quarter results on January 10, 2019.