TD SYNNEX Q3 FY23 Non-GAAP EPS $2.78 beats guidance; revenue $14.0B in line

TD SYNNEX Reports Fiscal 2023 Third Quarter Results • Revenue of $14.0 billion, at the midpoint of the previously provided outlook of $13.5 - $14.5 billion. • Non-GAAP gross billings (1) of $18.6 billion, at the midpoint of the previously provided outlook of $18.0 - $19.3 billion. • Gross margin was 6.96%, up 99 bps from the prior fiscal third quarter, and non-GAAP gross margin (1) was 6.97%, up 84 bps from the prior fiscal third quarter. • Operating margin was 1.72%, up 15 bps from the prior fiscal third quarter, and non-GAAP operating margin (1) was 2.84%, up 25 bps from the prior fiscal third quarter. • Net income was $139 million, and non-GAAP net income (1) was $260 million, above the previously provided outlook of $206 - $253 million. • Diluted earnings per share (“EPS”) of $1.49, and non-GAAP diluted EPS (1) of $2.78, above the previously provided outlook of $2.20 - $2.70.