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Stock Market Live July 1, 2026: S&P 500 (SPY) Lower as Investors Wait on the Fed and Fresh Economic Data
TD SYNNEX

TD SYNNEX (SNX) Q1 2026 Earnings

Reported Mar 31, 2026 at 7:04 AM ET · SEC Source

Q1 26 EPS

$4.73

BEAT +43.04%

Est. $3.31

Q1 26 Revenue

$17.16B

BEAT +9.67%

Est. $15.65B

vs S&P Since Q1 26

+53.1%

BEATING MARKET

SNX +67.9% vs S&P +14.9%

Market Reaction

Did SNX Beat Earnings? Q1 2026 Results

TD SYNNEX delivered a standout fiscal first quarter, posting non-GAAP diluted EPS of $4.73 against a consensus estimate of $3.31, a beat of 43.04%, while revenue climbed 18.1% year over year to $17.16 billion, topping the $15.65 billion consensus by … Read more TD SYNNEX delivered a standout fiscal first quarter, posting non-GAAP diluted EPS of $4.73 against a consensus estimate of $3.31, a beat of 43.04%, while revenue climbed 18.1% year over year to $17.16 billion, topping the $15.65 billion consensus by 9.67%. The strength was broad-based, with accelerating demand in AI-related infrastructure and cloud computing powering both the core distribution business and the Hyve Solutions segment, which designs and manufactures advanced compute and cloud infrastructure. Non-GAAP gross billings surged 24.4% to $25.78 billion, reflecting a meaningful mix shift toward higher-value service and SaaS arrangements, while non-GAAP operating income rose 47.8% to $589.59 million. Shares reached notable highs following the report, with analysts at RBC Capital and Raymond James raising their price targets in response. Looking ahead, management guided fiscal Q2 revenue of $16.10 billion to $16.90 billion and non-GAAP diluted EPS of $3.75 to $4.25, pointing to continued momentum even as the company raised its quarterly dividend 9% to $0.48 per share.

Key Takeaways

  • • Strong performance across both distribution and Hyve Solutions businesses
  • • Revenue increased 18.1% YoY, 13.2% on constant currency basis
  • • Non-GAAP gross billings grew 24.4% YoY to $25.8 billion
  • • Non-GAAP operating margin expanded 70 basis points to 3.44%
  • • Gross margin improved 43 basis points to 7.30%
  • • Non-GAAP diluted EPS increased 68.9% YoY
  • • Gross-to-net percentage expanded to 33.4% from 29.9%, reflecting increased SaaS and service contract activity
  • • Realized gain on sale of equity securities of $22.4 million
24/7 Wall St

SNX YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

SNX Revenue by Geography

With YoY comparisons, source: SEC Filings

Q2 25 Q4 25

“We're pleased with how we've started fiscal 2026. In the first quarter, we delivered record non-GAAP gross billings and non-GAAP diluted earnings per share, while continuing to expand profitability and build on the execution and momentum established over the past year.”

— Patrick Zammit, Q1 2026 Earnings Press Release

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