SYNNEX Corporation

SYNNEX Corporation Earnings Recaps

SNX Information Technology 3 recaps
Next earnings: September 24, 2026 (estimated) · full calendar
Q2 2026 Jun 30, 2026

TD SYNNEX shares dropped 6% post-earnings, reflecting investor disappointment primarily due to cautious outlook comments and margin pressures despite solid top-line growth and record billings.

Key takeaways
  • Non-GAAP gross billings rose 33% year-over-year to $28.9 billion, driven by 22% growth in Distribution and 117% growth in Hyve.
  • Non-GAAP operating income advanced 49% year-over-year to $615 million, with Distribution operating margin improving by 19 basis points to 1.9%.
  • Endpoint Solutions grew 13% driven by higher average selling prices and moderate unit growth; Advanced Solutions increased 31% led by infrastructure and security demand.
  • Management emphasized rising component costs, supply constraints, and geopolitical uncertainty as headwinds amid a complex macro environment.
  • Early ramp stages for Hyve’s new hyperscaler programs and manufacturing expansion are underway, but investors are likely concerned about the cautious outlook and margin sustainability going forward.
Full recap
Q1 2026 Mar 31, 2026

TD SYNNEX Corporation achieved record non-GAAP gross billings and earnings per share in Q1 FY2026, reflecting robust growth across its Distribution and Hive segments and solidifying its strategy for long-term shareholder value.

Key takeaways
  • Non-GAAP gross billings reached an all-time high, highlighting the strength of operational execution and demand.
  • Distribution segment growth was supported by increased investments in infrastructure, software, and security, alongside disciplined cost management.
  • The company received recognition as Microsoft Frontier Distributor and Palo Alto Networks' Distributor of the Year, showcasing its effectiveness in vendor support and market expansion.
  • Hive segment saw significant expansion driven by increased demand for AI and cloud-enabled data center infrastructure, with strong operating income growth year-over-year.
  • The updated segment structure enhances visibility into performance drivers and strategic execution, focusing on Distribution and Hive as distinct growth engines.
Full recap
Q3 2025 Sep 25, 2025

TD SYNNEX achieved record third-quarter results with gross billings of $22.7 billion and non-GAAP diluted EPS of $3.58, driven by strong execution and robust demand across its global portfolio.

Key takeaways
  • Gross billings increased 12% year-over-year, with non-GAAP diluted EPS growing 25%.
  • HIVE's gross billings soared by mid-thirties, and ODM Centimeters rose 57%, reflecting heightened cloud infrastructure investments.
  • Software revenue surged 26% driven by cybersecurity and infrastructure solutions, while AI PC demand remained strong.
  • Significant performance in Latin America and Asia Pacific, with double-digit gross billing growth in both regions.
  • Launch of the TD SYNNEX Partner First portal enhances partner experience and drives operational efficiency through digital strategy.
Full recap