TD Synnex Clocks 195% Revenue Growth In Q3

  • TD Synnex Corp SNX reported third-quarter FY22 revenue growth of 195% year-over-year to $15.4 billion, beating the consensus of $15.1 billion. Revenue rose 1% Q/Q.
  • Adjusted EPS of $2.74 was in line with the consensus.
  • The adjusted operating margin contracted by 64 bps to 2.59% as costs surged 195% Y/Y.
  • The trailing fiscal four-quarters ROIC was 7.6% compared to 21% in the prior year, and the adjusted ROIC was 12% versus 21.8% for the previous year.
  • TD Synnex used $67 million in operating cash flow due to working capital investments to support growth in the business.
  • The company held cash and equivalents of $350.8 million.
  • Dividend: TD Synnex declared a quarterly dividend of $0.30/share.
  • Q4 Outlook: TD Synnex sees revenue of $15.2 billion - $16.2 billion, versus the consensus of $16.19 billion. It sees non-GAAP EPS of $2.70 - $3.10 versus the consensus of $3.04.
  • FY22 Outlook: Earlier, TD Synnex shared a non-GAAP EPS outlook of $11.15 - $11.65.
  • Price Action: SNX shares traded higher by 1.18% at $85.19 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceDividendsTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!