Wed, Jul 3, 5:05 PM (66 days ago)
TD SYNNEX Corporation's Form 10-Q for the quarter ended May 31, 2024, reports a slight decrease in revenue to $13.95 billion, down 0.8% from the prior year period. Cost of revenue also decreased, resulting in a gross profit of $973.5 million and a gross margin of 6.98%. Selling, general, and administrative expenses remained stable, while acquisition, integration, and restructuring costs slightly increased. Operating income rose to $263.9 million, with an operating margin of 1.89%. Net income was $143.6 million, or $1.66 per diluted share. Cash flow from operations was $270 million, a decrease from the prior year. The company's cash conversion cycle remained stable at 23 days. TD SYNNEX also issued $600 million in senior notes and repurchased $453.4 million of its common stock. The company believes its liquidity is sufficient to meet future needs.