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Aug 31, 2021
TD Synnex Q3 2021 Earnings Report
TD Synnex reported results consistent with expectations despite supply chain shortages, focusing on optimizing core business and increasing value-added services and products, leading to improved margin performance.
Key Takeaways
TD Synnex reported a slight year-over-year revenue decline for legacy SYNNEX due to ongoing industry-wide supply chain shortages, but the team executed flawlessly, focusing on optimizing the core business and increasing value-added services and products, leading to improved margin performance.
Revenue was $5.2 billion, down 1.9% from the prior fiscal third quarter.
Operating income was $148 million, compared to $132 million, in the prior fiscal third quarter.
Non-GAAP operating income was $168 million, in fiscal year third quarter 2021, compared to $149 million, in the prior fiscal third quarter.
The trailing fiscal third quarter Return on Invested Capital (“ROIC”) was 17.5% compared to 12.5% in the prior fiscal year third quarter.
Forward Guidance
Revenue is expected to be in the range of $15 billion to $16 billion. Net income is expected to be in the range of $38 million to $106 million and on a non-GAAP basis, net income is expected to be in the range of $242 million to $272 million. Diluted earnings per share is expected to be in the range of $0.39 to $1.09 and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $2.50 to $2.80, based on estimated outstanding diluted weighted average shares of 96.2 million.
Historical Earnings Impact
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