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TD Synnex
🇺🇸 NYSE:SNX
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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.

Total Revenue
$15.1B
Previous year: $15.5B
-2.2%
EPS
$2.93
Previous year: $3.03
-3.3%
Gross Profit
$1B
Previous year: $969M
+3.6%
Cash and Equivalents
$539M
Previous year: $510M
+5.7%
Free Cash Flow
-$140M
Previous year: -$1.35B
-89.6%
Total Assets
$29.2B
Previous year: $28.6B
+2.3%

TD Synnex

TD Synnex

TD Synnex Revenue by Geographic Location

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

Company Overview

Full financial data and analysis

View TD Synnex