TD SYNNEX Q2 revenue $14.1B, down 7.9% YoY; non-GAAP EPS $2.43, down 10.7%; achieves $200M cost synergy target

TD SYNNEX CORP

2023-Q2 EPS reported $3.17 revenue$29,187,495,000

Revenue $14.06B (-7.9% YoY); non-GAAP gross billings $18.72B (-4.9% YoY).
GAAP diluted EPS $1.41 (-9.0%); non-GAAP diluted EPS $2.43 (-10.7%), in-line with guidance.
Operating margin improved 14 bps to 1.80%; non-GAAP margin 2.67% (+6 bps).
Achieved $200M merger-related cost synergy target ahead of schedule; targeting additional $50M savings.
Returned $93M to shareholders via $60M in buybacks and $33M in dividends; dividend $0.35/share declared.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TD SYNNEX CORP reported the fiscal second quarter ended May 31, 2023 results: revenue $14.1 billion, net income $133.1 million, EPS Diluted EPS $1.41.

Period: the fiscal second quarter ended May 31, 2023
Revenue: $14.1 billion
Net income: $133.1 million
EPS: Diluted EPS $1.41
Result: reported results

Exact text from the filing

TD SYNNEX Reports Fiscal 2023 Second Quarter Results • Revenue of $14.1 billion, down 7.9% from the prior fiscal second quarter, down 7.0% in constant currency. • Non-GAAP gross billings of $18.7 billion, down 4.9% from the prior fiscal second quarter. • Operating income of $253 million, flat from the prior fiscal second quarter and non-GAAP operating income of $376 million, down 5.6% from the prior fiscal second quarter. • Diluted earnings per share (“EPS”) of $1.41, down 9.0% from the prior fiscal second quarter and non-GAAP diluted EPS of $2.43, down 10.7% from the prior fiscal second quarter, in-line with guidance provided and including a $26 million headwind from higher interest expense.

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Source: SEC EDGAR

accession 0001177394-23-000043

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