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Nov 30, 2023
TD Synnex Q4 2023 Earnings Report
Announced fiscal fourth quarter and fiscal year results.
Key Takeaways
TD Synnex reported Q4 revenue of $14.4 billion and non-GAAP EPS of $3.13, exceeding the high end of prior guidance. The company successfully navigated a challenging market in fiscal year 2023, generating robust free cash flow of $1.3 billion and returning $751 million to shareholders. They anticipate IT spending to rebound in 2024.
Fiscal fourth quarter revenue of $14.4 billion, within the previously provided outlook of $14.0 - $15.0 billion.
Fiscal fourth quarter non-GAAP diluted EPS of $3.13, exceeding the high end of the prior guidance range by $0.23.
Fiscal fourth quarter gross margin and non-GAAP gross margin of 7.07%, up 55 bps and 44 bps, respectively, from the prior fiscal fourth quarter.
Returned $751 million to shareholders in fiscal 2023 in the form of share repurchases and dividends, up 213% from the prior year.
Revenue by Geographic Location
Forward Guidance
TD SYNNEX’s current expectations for the fiscal 2024 first quarter include revenue between $14.0 - $14.7 billion and non-GAAP gross billings between $19.0 - $20.0 billion.
Positive Outlook
- Revenue between $14.0 - $14.7 billion
- Non-GAAP gross billings between $19.0 - $20.0 billion
- Net income between $147 - $192 million
- Non-GAAP net income between $232 - $277 million
- Diluted earnings per share between $1.65 - $2.15
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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