TD Synnex Q2 2024 Earnings Report
Key Takeaways
TD Synnex reported Q2 2024 results with revenue of $13.9 billion. The company saw a slight decrease in revenue compared to the previous year, but experienced growth in non-GAAP gross billings. EPS was reported at $1.66, and non-GAAP EPS at $2.73. The company returned $288 million to shareholders through share repurchases and dividends.
Revenue was $13.9 billion, within the company's outlook.
Non-GAAP gross billings were $19.3 billion, at the upper end of the outlook.
The company returned $288 million to shareholders through share repurchases and dividends, a 210% increase year-over-year.
A quarterly cash dividend of $0.40 per common share was announced, up 14% year-over-year.
TD Synnex
TD Synnex
TD Synnex Revenue by Geographic Location
Forward Guidance
TD SYNNEX provided the following outlook for Q3 2024: Revenue is expected to be between $13.3 and $14.9 billion, and non-GAAP gross billings between $18.9 and $20.1 billion. Net income is projected to be between $152 and $194 million, with non-GAAP net income between $219 and $261 million. Diluted earnings per share are expected to be between $1.77 and $2.27, and non-GAAP diluted earnings per share between $2.55 and $3.05.
Positive Outlook
- Revenue between $13.3 - $14.9 billion
- Non-GAAP gross billings between $18.9 - $20.1 billion
- Net income between $152 - $194 million
- Non-GAAP net income between $219 - $261 million
- Diluted earnings per share between $1.77 - $2.27
Revenue & Expenses
Visualization of income flow from segment revenue to net income