TD Synnex Q2 2022 Earnings Report
Key Takeaways
TD Synnex reported revenue of $15.3 billion, a 160.7% increase year-over-year, primarily due to the merger with Tech Data. Operating income was $253 million, and net income was $148.9 million. The company repurchased $29 million of its common stock during the quarter.
Revenue reached $15.3 billion, up 160.7% year-over-year due to the Tech Data merger.
Operating income increased to $253 million, compared to $148 million in the prior fiscal second quarter.
Cash provided by operations was approximately $1.0 billion for the quarter.
Repurchased $29 million of common stock in the quarter.
TD Synnex
TD Synnex
Forward Guidance
TD SYNNEX expects revenue to be in the range of $14.5 billion to $15.5 billion for the third quarter of fiscal year 2022. Diluted earnings per share is expected to be in the range of $1.24 to $1.64, and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $2.50 to $2.90.
Positive Outlook
- Revenue is expected to be in the range of $14.5 billion to $15.5 billion.
- Net income is expected to be in the range of $120 million to $158 million and on a non-GAAP basis, net income is expected to be in the range of $241 million to $279 million.
- Diluted earnings per share is expected to be in the range of $1.24 to $1.64
- Non-GAAP diluted earnings per share is expected to be in the range of $2.50 to $2.90
- Reaffirming full year fiscal 2022 non-GAAP diluted earnings per share guidance despite an unfavorable impact of $0.14 due to the further devaluation of the Euro.