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TD Synnex 8-K Report, Financial Results (Jun 24, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed June 24, 2025
Period End
June 24, 2025
Security
SNX
In the record · 2016–202610-K1110-Q338-K163

SNX filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 163 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Oct ’18Oct ’18
  2. Deal closed8-K · Dec ’20Dec ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Material agreement8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed June 24, 2025. Cited figures are marked; the original filing is the authoritative source.

TD SYNNEX Corporation reported fiscal second quarter 2025 results for the quarter ended May 31, 2025, with revenue of $14.9 billiona, up 7.2% year over year and above the high end of its outlook.

On a constant currency basis, revenue increased 6.3%. Non-GAAP gross billings were $21.6 billionb, up 12.1% year over year (11.3% in constant currency). GAAP diluted EPS was $2.21 versus $1.66 a year earlier, and non-GAAP diluted EPS was $2.99 versus $2.73, above the high end of the company's outlook.

The filing states that a greater share of sales was presented on a net basis due to product mix, which reduced revenue growth by approximately 5% compared with the prior-year quarter, while gross margin was 7.0% in both periods. Cash provided by operations was $573 millionc, compared with cash used in operations of $115 million a year earlier, and free cash flow was $543 million. The company returned $186 million to stockholders through $149 million of share repurchases and $37 million of dividends.

The Board declared a quarterly cash dividend of $0.44d per common share, payable July 25, 2025, up 10% year over year. For the fiscal third quarter ending August 31, 2025, management guided to revenue of $14.7 to $15.5 billion, non-GAAP gross billings of $21.0 to $22.0 billion, and non-GAAP diluted EPS of $2.75 to $3.25. The CEO, Patrick Zammit, attributed the results to continued strength in IT distribution and hyperscaler markets, with gross billings growing in double digits and all regions and major technologies contributing.

02—Key points

Key Highlights

  1. Revenue of $14.9 billion, up 7.2% year over year and above the high end of outlook; up 6.3% in constant currency.
  2. Non-GAAP gross billings of $21.6 billion, up 12.1% year over year (11.3% in constant currency).
  3. GAAP diluted EPS of $2.21 versus $1.66; non-GAAP diluted EPS of $2.99 versus $2.73, above the high end of outlook.
  4. Cash provided by operations of $573 million and free cash flow of $543 million, versus negative free cash flow of $153 million a year earlier.
  5. Returned $186 million to stockholders ($149 million in share repurchases and $37 million in dividends).
  6. Declared a quarterly dividend of $0.44 per share, up 10% year over year, payable July 25, 2025.
  7. Q3 FY2025 outlook: revenue of $14.7 to $15.5 billion and non-GAAP diluted EPS of $2.75 to $3.25.

03—Questions

Frequently Asked Questions

  1. How did TD SYNNEX perform in its fiscal second quarter of 2025?

    Revenue was $14.9 billion, up 7.2% year over year, and non-GAAP gross billings were $21.6 billion, up 12.1%. Both exceeded the high end of the company's outlook, and non-GAAP diluted EPS rose to $2.99 from $2.73.

  2. Did net presentation of sales affect reported revenue growth?

    Yes. The filing states that a greater percentage of sales were presented on a net basis due to product mix, which negatively impacted revenue compared with the prior-year quarter by approximately 5%. Gross margin was 7.0% in both periods.

  3. What is the new dividend and when is it payable?

    The Board declared a quarterly cash dividend of $0.44 per common share, up 10% year over year, payable July 25, 2025 to stockholders of record as of July 11, 2025.

  4. What is the company's outlook for the fiscal third quarter of 2025?

    The company expects revenue of $14.7 to $15.5 billion, non-GAAP gross billings of $21.0 to $22.0 billion, net income of $159 to $200 million, and non-GAAP diluted EPS of $2.75 to $3.25, on an estimated 81.8 million diluted weighted average shares.

  5. How strong was cash generation this quarter?

    Cash provided by operations was $573 million, compared with cash used in operations of $115 million a year earlier, and free cash flow was $543 million. The filing notes these figures are non-GAAP measures reconciled to GAAP in the supplemental tables.

04—Continue

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