SYNNEX Corp. (NYSE:SNX) shares gained more than 10% since the company’s reported Q4 results on Tuesday, with EPS of $3.44 coming in better than the Street estimate of $2.93. Revenue was $16.2 billion, beating the Street estimate of $15.79 billion. The beat was driven by stable distribution demand and robust 20%+ growth in the high-growth areas.
The company expects Q1/23 EPS to be in the range of $2.60-$3.00, compared to the Street estimate of $3.05, and revenue in the range of $15.2-16.2 billion, compared to the Street estimate of $15.85 billion. Management guided fiscal 2023 revenue growth of 3-5% as supply chains normalize, but macro nervousness remains.