- TD Synnex Corp (NYSE:SNX) reported first-quarter FY22 revenue growth of 213.2% year-over-year to $15.47 billion, beating the consensus of $15.31 billion. Revenue fell 0.9% Q/Q.
- Adjusted EPS of $3.03 beat the consensus of $2.73.
- The adjusted operating margin contracted by 37 bps to 2.79%.
- The trailing fiscal four quarters ROIC was 9.7% compared to 16.8% in the prior year, and the adjusted ROIC was 13.9% versus 17.8% for the previous year.
- TD Synnex used $1.3 billion in operating cash flow reflecting the temporary increase in net working capital to support revenue growth and strategic inventory purchases.
- The company held cash and equivalents of $510.2 million.
- Dividend: TD Synnex declared a quarterly dividend of $0.30/share.
- 2Q22 Outlook: TD Synnex sees revenue of $14.8 billion - $15.8 billion, versus the consensus of $15.1 billion. It sees non-GAAP EPS of $2.40 - $2.80 versus the consensus of $2.54.
- FY22 Outlook: TD Synnex raised non-GAAP EPS outlook from $10.80 - $11.20 to $11.15 - $11.65 above the consensus of $11.08.
- Price Action: SNX shares traded lower by 0.57% at $111.40 during the market session on Thursday.
