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Feb 28, 2022
TD Synnex Q1 2022 Earnings Report
TD Synnex reported strong fiscal first quarter results, with broad-based positive momentum.
Key Takeaways
TD Synnex reported a strong fiscal first quarter with revenue of $15.5 billion, a 213.2% increase from the prior year, primarily due to the merger with Tech Data. Operating income was $222 million, and non-GAAP operating income was $432 million.
Revenue was $15.5 billion, up 213.2% from prior year primarily due to the merger with Tech Data.
Operating income was $222 million, compared to $142 million in the prior fiscal first quarter.
Non-GAAP operating income was $432 million, compared to $156 million in the prior fiscal first quarter.
Cash used in operations was approximately $1.3 billion, primarily due to a temporary increase in net working capital.
Forward Guidance
TD SYNNEX' current expectations for the fiscal 2022 second quarter include revenue between $14.8 billion and $15.8 billion, net income between $84 million and $184 million, and non-GAAP net income between $231 million and $270 million.
Positive Outlook
- Revenue is expected to be in the range of $14.8 billion to $15.8 billion.
- Net income is expected to be in the range of $84 million to $184 million.
- Non-GAAP net income is expected to be in the range of $231 million to $270 million.
- Diluted earnings per share is expected to be in the range of $0.87 to $1.91.
- Non-GAAP diluted earnings per share is expected to be in the range of $2.40 to $2.80, based on estimated outstanding diluted weighted average shares of 95.7 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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