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Nov 30, 2022
TD Synnex Q4 2022 Earnings Report
Reported fiscal fourth quarter and fiscal year results, announced dividend increase and new share repurchase authorization.
Key Takeaways
TD Synnex reported a 4% increase in fiscal fourth quarter revenue to $16.2 billion and a 20% increase in non-GAAP diluted EPS to $3.44. The company exceeded financial goals for both the quarter and the year, despite headwinds from foreign currency and higher interest rates. The Board of Directors has declared a Q1 dividend per share of $0.35, a 17% increase to the prior quarter, and authorized a new $1 billion share repurchase program.
Fiscal fourth quarter revenue of $16.2 billion, up 4% from the prior-year period, up 11% in constant currency
Fiscal fourth quarter non-GAAP operating income of $496 million, up 22% from the prior-year period
Fiscal fourth quarter operating income of $334 million, up 80% from the prior-year period
Fiscal fourth quarter non-GAAP diluted earnings per share (“EPS”) of $3.44, up 20% from the prior-year period, exceeding the high end of the prior guidance range despite headwinds from foreign currency and interest expense
Revenue by Geographic Location
Forward Guidance
TD SYNNEX’s current expectations for the fiscal 2023 first quarter include revenue in the range of $15.2 billion to $16.2 billion and diluted earnings per share is expected to be in the range of $1.46 to $1.86 and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $2.60 to $3.00.
Challenges Ahead
- The outlook for the fiscal 2023 first quarter reflects the impact of year-over-year foreign exchange headwinds on revenue of approximately $500 million
- The outlook for the fiscal 2023 first quarter reflects the impact of interest rate movements of $33 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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