TD SYNNEX Corp ( SNX )  shares are trading lower Tuesday after the company reported its second-quarter print.

The Fremont, California-based company reported:

An adjusted EPS of $2.73, missing the street view of $2.82.

Quarterly revenue of $13.95 billion, missing the analyst view of $14.08 billion.

A 0.5% decrease in revenue compared to the prior fiscal second quarter. 

Adjusted gross billings were $19.3 billion in the quarter under review, compared to $18.7 billion in the prior fiscal second quarter.

The adjusted gross profit was $974 million, compared to $969 million in the prior fiscal second quarter.

An adjusted gross margin of 7%, compared to 6.9% in the prior fiscal second quarter. 

TD SYNNEX ( SNX ) returned $288 million to shareholders through share repurchases and dividends. That’s up 210% from the prior fiscal second quarter. 

The company declared a quarterly cash dividend of 40 cents per common share.

Outlook: TD SYNNEX ( SNX ) expects third-quarter revenues of $13.3 billion—$14.9 billion , compared to the $14.51 billion estimate.

The company sees adjusted EPS of $2.55-$3.05 versus the $2.93 estimate.

On June 20, TD SYNNEX ( SNX ) said COO Patrick Zammit will become CEO, replacing current CEO Rich Hume starting Sept. 1. Hume will retire, but remain on the TD SYNNEX ( SNX ) board of directors.

TD Synnex ( SNX ) stock gained over 32% in the last 12 months.

Price Action: SNX shares are trading lower by 7.04% to $120.24 premarket at the last check Tuesday.

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