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Nov 30, 2021
TD Synnex Q4 2021 Earnings Report
TD Synnex reported results ahead of expectations due to strong execution and collaboration.
Key Takeaways
TD Synnex reported Q4 revenue of $15.6 billion, a 155.1% increase year-over-year, primarily due to the merger with Tech Data. Non-GAAP diluted EPS from continuing operations was $2.86, a 1.4% increase year-over-year.
Revenue was $15.6 billion, up 155.1% from the prior fiscal fourth quarter primarily due to the impact of the completion of the merger with Tech Data on September 1, 2021.
Operating income was $185 million, compared to $200 million, in the prior fiscal fourth quarter.
Non-GAAP operating income was $408 million, in fiscal year fourth quarter 2021, compared to $221 million, in the prior fiscal fourth quarter.
Cash generated from operations was $561 million for the quarter.
TD Synnex
TD Synnex
Forward Guidance
TD SYNNEX provided financial guidance for the first quarter and full fiscal year 2022.
Positive Outlook
- Revenue is expected to be in the range of $14.75 billion to $15.75 billion for Q1 2022.
- Net income is expected to be in the range of $74 million to $134 million for Q1 2022.
- Non-GAAP net income is expected to be in the range of $245 million to $275 million for Q1 2022.
- Diluted earnings per share is expected to be in the range of $0.77 to $1.39 for Q1 2022.
- Non-GAAP diluted earnings per share is expected to be in the range of $2.55 to $2.85 for Q1 2022.
Challenges Ahead
- Diluted earnings per share is expected to be in the range of $4.83 to $5.90 for FY2022.
- Non-GAAP diluted earnings per share is expected to be in the range of $10.80 to $11.20 for FY2022.
- These statements are forward-looking and actual results may differ materially.
- The forward-looking statements are subject to risks and uncertainties.
- TD SYNNEX assumes no obligation to update information contained in this press release.