TD Synnex (SNX) Reports Strong Q1 2025 Results

By Tamara Parker • Thursday, March 27 15:11 • Permanent Link

TD Synnex (NYSE: SNX) has just released its fiscal 2025 first-quarter results, showcasing an impressive performance in various financial metrics. Here's a detailed look at the key figures:

Revenue for the first quarter of fiscal year 2025 stood at $14.5 billion, marking a 4.0% increase from the prior fiscal first quarter. On a constant currency basis, revenue saw an even more substantial increase of 6.0% compared to the prior fiscal first quarter.
Non-GAAP gross billings reached $20.7 billion, reflecting a significant 7.5% increase from the prior fiscal first quarter. On a constant currency basis, non-GAAP gross billings increased by an impressive 9.5% compared to the prior fiscal first quarter.
Diluted earnings per share (EPS) came in at $1.98, representing a 2.6% increase from the prior fiscal first quarter. Non-GAAP diluted EPS stood at $2.80, showcasing stability within the company's outlook.
The company returned $138 million to stockholders in the form of $101 million of share repurchases and $37 million in dividends.
Additionally, TD Synnex announced a quarterly cash dividend of $0.44 per common share, marking a 10% increase from the prior fiscal first quarter.

Regional highlights for the fiscal 2025 first quarter include:

Americas: Revenue in the Americas region saw a 6.2% increase to $8.4 billion compared to the prior fiscal first quarter. Non-GAAP gross billings for the region increased by 8.2%, reaching $12.4 billion.
Europe: Revenue in the European region grew by 0.4% to $5.1 billion, with non-GAAP gross billings increasing by 4.3% to $6.9 billion.
Asia-Pacific and Japan: Revenue in this region saw a 5.2% increase to $1.0 billion compared to the prior fiscal first quarter. Non-GAAP gross billings surged by 19.5% to $1.4 billion.

Looking ahead, TD Synnex provided an outlook for the fiscal 2025 second quarter:

Revenue is anticipated to range between $13.9 billion and $14.7 billion.
Non-GAAP gross billings are expected to fall between $19.7 billion and $20.7 billion.
Net income is projected to be in the range of $137 million to $179 million, with non-GAAP net income ranging from $205 million to $247 million.

TD Synnex's strong financial performance in the first quarter of fiscal 2025, coupled with its optimistic outlook for the second quarter, underscores its position as a leading global distributor and solutions aggregator in the IT ecosystem. As a result of these announcements, the company's shares have moved -13.1% on the market, and are now trading at a price of $108.98. Check out the company's full 8-K submission here.

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