Thu, Oct 3, 8:03 PM (289 days ago)
In the quarterly period ending August 31, 2024, TD SYNNEX Corporation reported revenue of $14,685 million, a 5.2% increase from the same period in 2023, driven by growth in both Advanced and Endpoint Solutions. However, revenue for the nine months decreased to $42,608 million, reflecting a 1.3% decline year-over-year, largely due to a shift in revenue presentation on a net basis. Gross profit was $961 million for the quarter, with a gross margin of 6.54%, down from 6.96% in the prior year, attributed to a less favorable product mix. Operating income rose to $303 million, up 26.1% year-over-year, while net income increased to $179 million, leading to diluted earnings per share of $2.08. Cash flow from operations decreased significantly to $656 million compared to $1.2 billion in the previous year, primarily due to changes in working capital dynamics. The company maintained a robust cash position of $854 million, with ongoing share repurchase programs totaling $2 billion authorized. Future operations may be impacted by economic conditions and market demand fluctuations, particularly in the IT sector.