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Feb 28, 2023
TD Synnex Q1 2023 Earnings Report
TD Synnex's financial performance was reported for Q1 2023, revealing a mix of challenges and strategic successes.
Key Takeaways
TD Synnex reported Q1 2023 revenue of $15.1 billion, a 2% decrease year-over-year, but a 1% increase in constant currency. The company's operating income increased by 34% to $298 million, and EPS rose by 28% to $1.75. They also returned $148 million to shareholders through share repurchases and dividends.
Revenue was $15.1 billion, down 2% year-over-year but up 1% in constant currency.
Operating income increased 34% year-over-year to $298 million.
Diluted EPS increased 28% year-over-year to $1.75.
Returned $148 million to shareholders through share repurchases and dividends.
TD Synnex
TD Synnex
TD Synnex Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Pacific & Japan Revenue
CapyFin.com Forward Guidance
TD SYNNEX expects revenue to be in the range of $14.0 billion to $15.0 billion for the second quarter of fiscal year 2023. Non-GAAP diluted earnings per share is expected to be in the range of $2.25 to $2.75.
Positive Outlook
- Revenue is expected to be in the range of $14.0 billion to $15.0 billion.
- Net income is expected to be in the range of $105 million to $152 million.
- On a non-GAAP basis, net income is expected to be in the range of $214 million to $261 million.
- Diluted earnings per share is expected to be in the range of $1.10 to $1.60.
- On a non-GAAP basis, diluted earnings per share is expected to be in the range of $2.25 to $2.75.
Challenges Ahead
- The outlook for the fiscal 2023 second quarter reflects the impact of year-over-year foreign exchange headwinds on revenue and non-GAAP gross billings of approximately $200 million and $250 million, respectively.
- The outlook reflects interest rate movements of approximately $30 million.
- Non-GAAP gross billings are expected to be in the range of $18.7 billion to $20.0 billion, compared to $19.7 billion in the prior fiscal second quarter.
- Net income is expected to be in the range of $105 million to $152 million.
- Diluted earnings per share is expected to be in the range of $1.10 to $1.60.
Revenue & Expenses
Visualization of income flow from segment revenue to net income