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Feb 28, 2021
TD Synnex Q1 2021 Earnings Report
TD Synnex's financial performance increased in Q1 2021.
Key Takeaways
TD Synnex reported a strong first quarter with revenue up 21.0% year-over-year, driven by solid demand for technology products and services. The company is optimistic about the IT spending environment in 2021, fueled by digital transformation and remote enablement.
Revenue was $4.9 billion, up 21.0% from the prior fiscal first quarter.
Operating income was $142 million, compared to $100 million, in the prior fiscal first quarter.
Non-GAAP operating income was $156 million, compared to $116 million, in the prior fiscal first quarter.
Cash generated from operations was approximately $25 million for the quarter.
Forward Guidance
For the second quarter of fiscal year 2021, revenue is expected to be in the range of $4.70 billion to $5.00 billion. Net income is expected to be in the range of $82.9 million to $92.9 million, with non-GAAP net income expected to be in the range of $94.9 million to $105.0 million. Diluted earnings per share is expected to be in the range of $1.58 to $1.77, and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $1.80 to $2.00.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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