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Nov 30, 2020
TD Synnex Q4 2020 Earnings Report
Reported record financial results and successfully spun off Concentrix business
Key Takeaways
SYNNEX Corporation reported record financial results for the fiscal fourth quarter and fiscal year ended November 30, 2020. The company's revenue for Q4 FY20 was $7.414 billion, up 12.7% from Q4 FY19. Diluted EPS was $4.14, compared to $3.41 in the prior year. Non-GAAP diluted EPS was $5.21, compared to $4.26 in the prior year.
Technology Solutions revenue was $6.1 billion, up 13.9% from the prior fiscal year fourth quarter.
Concentrix revenue was $1.3 billion, up 7.3% from the prior fiscal year fourth quarter.
Cash generated from operations was approximately $297 million for the quarter.
The Board of Directors reinstated a quarterly cash dividend of $0.20 per common share.
TD Synnex
TD Synnex
Forward Guidance
SYNNEX provided the following statements based on its current expectations for the fiscal 2021 first quarter:
Positive Outlook
- Revenue is expected to be in the range of $4.50 billion to $4.80 billion.
- Net income is expected to be in the range of $70.3 million to $80.8 million.
- Non-GAAP net income is expected to be in the range of $81.0 million to $91.5 million.
- Diluted earnings per share is expected to be in the range of $1.34 to $1.55.
- Non-GAAP diluted earnings per share is expected to be in the range of $1.55 to $1.75, based on estimated outstanding diluted weighted average shares of 51.8 million.