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TD Synnex
🇺🇸 NYSE:SNX
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Aug 31, 2020

TD Synnex Q3 2020 Earnings Report

TD Synnex's Q3 2020 earnings were announced, demonstrating resilience and focus on partnerships, with continued dedication to business growth during unprecedented times.

Key Takeaways

TD Synnex reported a strong third quarter with revenue of $6.465 billion, a 4.2% increase year-over-year. Diluted EPS was $2.60, and non-GAAP diluted EPS was $3.33. The company remains on track with the proposed spin-off of Concentrix.

Revenue was $6.465 billion, up 4.2% over the prior fiscal year third quarter.

Operating income was $209.1 million, a 0.1% increase year-over-year.

Diluted earnings per share was $2.60, up 8.3% over the prior fiscal year third quarter.

Cash generated from operations was approximately $321 million for the quarter.

Total Revenue
$6.47B
Previous year: $6.2B
+4.2%
EPS
$3.33
Previous year: $3.3
+0.9%
Gross Profit
$708M
Previous year: $726M
-2.5%
Cash and Equivalents
$1.45B
Previous year: $262M
+453.7%
Free Cash Flow
$278M
Previous year: $217M
+28.2%
Total Assets
$13.3B
Previous year: $11.4B
+16.1%

TD Synnex

TD Synnex

Forward Guidance

The following statements are based on SYNNEX current expectations for the fiscal 2020 fourth quarter. Non-GAAP financial measures exclude the impact of acquisition-related and integration expenses, the amortization of intangibles and the related tax effects thereon. These statements are forward-looking and actual results may differ materially.

Positive Outlook

  • Revenue is expected to be in the range of $6.45 billion to $6.65 billion.
  • Net income is expected to be in the range of $153.0 million to $166.0 million and on a non-GAAP basis, net income is expected to be in the range of $190.5 million to $203.5 million.
  • Diluted earnings per share is expected to be in the range of $2.95 to $3.20
  • On a non-GAAP basis, diluted earnings per share is expected to be in the range of $3.68 to $3.93, based on estimated outstanding diluted weighted average shares of 51.5 million.
  • After-tax amortization of intangibles is expected to be $35.2 million, or $0.68 per share.

Challenges Ahead

  • These statements are forward-looking and actual results may differ materially.
  • Non-GAAP financial measures exclude the impact of acquisition-related and integration expenses
  • Non-GAAP financial measures exclude the impact of the amortization of intangibles
  • Non-GAAP financial measures exclude the impact of the related tax effects thereon.
  • After-tax acquisition-related and integration expense is expected to be $2.3 million, or $0.04 per share.

Company Overview

Full financial data and analysis

View TD Synnex