TD SYNNEX Corporation

SNX

Equity

ISIN US87162W1009 / Valor 1676033

New York Stock Exchange, Inc (2025-04-04)

USD 95.81-3.69%

TD SYNNEX Corporation
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

TD SYNNEX Corporation is a global leader in IT distribution and services, providing a broad range of products and solutions to customers around the world. The company operates at the intersection of technology and business, leveraging its extensive expertise in areas such as cloud computing, security, data analytics, and the Internet of Things (IoT) to drive innovation and deliver value to its partners and clients. With a strategic focus on next-generation technologies, TD SYNNEX is committed to facilitating the digital transformation journey of businesses across various industries. The leadership team, including Chief Strategy Officer Sergio Farache and Chief Business Officer Simon Leung, plays a pivotal role in steering the company's growth through strategic initiatives, mergers and acquisitions, and a comprehensive approach to risk management and corporate communications. Under the guidance of Chief Human Resources Officer Beth Simonetti, TD SYNNEX also emphasizes the importance of talent management, diversity, equity, and inclusion, and corporate social responsibility, ensuring a sustainable and forward-looking approach to business.

Summarized from source with an LLMView SourceSector: Technology

Revenue Performance

In the fiscal second quarter of 2024, TD SYNNEX Corporation reported revenue of $13.9 billion, which was within their projected outlook range of $13.3 to $14.9 billion. This represents a slight decrease of 0.8% compared to the same quarter in the previous year. The company noted that a greater percentage of revenue was presented on a net basis, impacting the overall revenue figures.

Gross Billings and Profit

TD SYNNEX Corporation achieved non-GAAP gross billings of $19.3 billion in the fiscal second quarter of 2024, reaching the upper end of their outlook. Gross profit for the quarter was $974 million, showing a modest increase from $963 million in the prior fiscal second quarter. The gross margin improved to 6.98%, up from 6.85% in the previous year.

Net Income and Earnings Per Share

The company reported a net income of $144 million for the fiscal second quarter of 2024, with non-GAAP net income reaching $237 million. Diluted earnings per share (EPS) were $1.66, while non-GAAP diluted EPS stood at $2.73, both within the company's outlook range. This reflects a significant improvement in EPS compared to the prior fiscal second quarter.

Shareholder Returns

TD SYNNEX Corporation returned $288 million to shareholders during the fiscal second quarter of 2024. This included $254 million in share repurchases and $34 million in dividends, marking a 210% increase from the previous fiscal second quarter. Additionally, the company announced a quarterly cash dividend of $0.40 per common share, a 14% increase from the prior year.

Future Outlook

For the fiscal third quarter of 2024, TD SYNNEX Corporation has set a revenue outlook of $13.3 to $14.9 billion. The company anticipates non-GAAP gross billings to range between $18.9 and $20.1 billion. Expected net income is projected to be between $152 and $194 million, with non-GAAP net income ranging from $219 to $261 million. The company remains optimistic about its growth prospects amidst a recovering market environment.

Summarized from source with an LLMView Source

Key figures

-18.3%1Y

-7.62%3Y

188%5Y

Performance

26.7%1Y

27.5%3Y

36.0%5Y

Volatility