SNSNXEarnings Analysis财报电话会Source pending来源待核by InvestLog AIInvestLog AI 整理
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SNX earnings call: Turning to our fourth quarter outlook, we expect continued momentum across both businesses, translating to non-GAAP gross billings of approximately $31.9 billion, plus or minus $500 million, up approximately 31% year-over-year at the midpoint.新聚思 (SNX) 电话会：接下来谈谈我们第四季度的展望，我们预计两大业务将保持增长势头，按中点计算，非GAAP总营收账单约为319亿美元，上下浮动5亿美元，同比增长约31%。
Management remarks
Call period: 2026 Q3 · 2026-09-24
Guidance: David Jordan: Turning to our fourth quarter outlook, we expect continued momentum across both businesses, translating to non-GAAP gross billings of approximately $31.9 billion, plus or minus $500 million, up approximately 31% year-over-year at the midpoint.
Demand and orders: Patrick Zammit: Hyve delivered a strong quarter with non-GAAP gross billings of $7 billion, up 117% year-over-year, exceeding our expectations as we saw continued increased demand from existing customers and programs.
Margins: David Jordan: Non-GAAP operating income increased 55% to $483 million, and non-GAAP operating margin as a percentage of gross billings expanded 35 basis points year-over-year to 1.95%.
Analyst Q&A
Analyst Ruplu Bhattacharya asked: You have reported good results and guidance. Looks like gross margin overall declined 60 basis points year-on-year. Can you elaborate more on what was that mix that impacted margins? Management David Jordan answered: So within North America, there was a few larger transactions, specifically around infrastructure build-outs, and some of those categories have slightly lower gross margins relative to the average. Within Hyve, it is the same impact that we had commented on last quarter, which was we have ramped a large AI server program that is profitable, but at margins that are slightly below the average Hyve margin, and that is what has caused the year-over-year decline for Hyve.
