Financial Data and Key Metrics - Total adjusted SG&A expense was $592 million, up $10 million YoY and $15 million QoQ, driven by sequential growth in gross billings of $1 billion [1] - Non-GAAP operating income was $427 million, with a non-GAAP operating margin of approximately 3% [1] - Non-GAAP interest expense and finance charges were $66 million, $4 million better than the outlook, and flat QoQ [1] - Non-GAAP effective tax rate was approximately 22%, better than the forecast of 24%, due to regional business mix [1] - Non-GAAP net income was $286 million, and non-GAAP diluted EPS was $3.13, $0.23 above the high end of guidance [1] - Cash and cash equivalents stood at $1 billion, with debt of $4.1 billion, resulting in a gross leverage ratio of 2.3x and net leverage of 1.7x [1] - Accounts receivable totaled $10.3 billion, up from $8.9 billion in the prior quarter [1] - Free cash flow for fiscal 23 was $1.3 billion, exceeding the $1 billion target, with $751 million returned to shareholders [6][8] Business Line Data and Key Metrics - Gross billings for Q4 were $19.7 billion, down 6% YoY, driven by stabilization in the Americas and outperformance in Europe [6] - Net revenue for Q4 was $14.4 billion, down 11% YoY, impacted by a $270 million negative adjustment due to a customer migration to a consignment model [6] - Non-GAAP gross profit was $1.02 billion, with a non-GAAP gross margin of 7.07%, up 44 basis points YoY [6] - Advanced solutions faced tougher YoY comparisons due to strong performance in FY22, while endpoint solutions showed signs of stabilization [6] - The company expanded its security portfolio in Europe with Palo Alto Networks' cybersecurity products and added Workday and Meta as new vendors in North America [3][6] Market Data and Key Metrics - The Americas market showed signs of stabilization, while Europe performed better than expected despite a muted macroeconomic environment [3] - In APJ, the company continued to see traction in portfolio build-out, offsetting some softness in endpoint demand [3] - The company gained market share in both the Americas and Europe during fiscal 23 [2] - The company expects gross billings for Q1 FY24 to be $19-20 billion, representing a 3% YoY decline at the midpoint, with revenue expected to be $14-14.7 billion, a 5% YoY decline [8] Company Strategy and Industry Competition - The company is focusing on high-growth technology areas, including cloud, security, data analytics, and AI, to drive margin-accretive growth [2][4] - Investments in digital platform capabilities aim to provide customers with a one-stop shop for multi-vendor offerings [4] - AI is a key growth vector, with the company leveraging its data analytics expertise and partnerships with leading vendors like Microsoft to accelerate AI adoption [4][6] - The company is increasing its quarterly dividend by 14% to $0.40 per share and plans to return 50% of free cash flow to shareholders via dividends and share repurchases [6][8] Management Commentary on Operating Environment and Future Outlook - Management noted early signs of stabilization in IT spending, with improving YoY declines in endpoint solutions [6] - The company expects a gradual recovery in endpoint solutions throughout FY24, driven by normalized PC buying patterns, while advanced solutions face tougher YoY comparisons [4][6] - Management remains confident in the company's ability to navigate the dynamic IT landscape and capitalize on emerging growth opportunities [4][6] Other Important Information - The company achieved its second consecutive top score in the Corporate Equality Index and formalized its commitment to disability inclusion [3] - Patrick Zamet was appointed as Chief Operating Officer, focusing on day-to-day distribution operations and driving profitable growth [3][4] - The company repurchased approximately 6.5 million shares, or 7% of shares outstanding, during fiscal 23 [6] Q&A Summary Question: How is the company thinking about fiscal 24, particularly in terms of gross billings and IT spending? - The company expects flattish growth in the first half of FY24, with mid-to-high single-digit growth in the second half, driven by recovery in endpoint solutions and stabilization in advanced solutions [9][10] - Management anticipates growth in both endpoint and advanced solutions segments in the second half of the year [10] Question: How is AI expected to impact the business over the next year or two? - AI is seen as a significant growth vector, with the company leveraging its data analytics expertise and partnerships with leading vendors to accelerate AI adoption [11][12] - The company expects AI to have a positive effect on IT growth, though it will likely involve reprioritization of IT budgets rather than a complete increment [12] Question: What is the outlook for free cash flow and shareholder returns in FY24? - The company expects to generate approximately $1.2 billion in free cash flow for FY24 and remains committed to returning 50% of free cash flow to shareholders via dividends and share repurchases [8][14] Question: Can the company provide more details on the impact of the consignment program on revenue and margins? - The consignment program impacted Q4 net revenue by $270 million, with no material impact on operating profit, and is expected to impact net revenue by approximately $250 million per quarter in FY24 [13][14] Question: How is the company thinking about organic investments versus M&A? - The company maintains a balanced capital allocation strategy, with 50% of free cash flow allocated to shareholder returns and 50% to reinvestment in the business, including potential M&A opportunities [15][16] Question: What is the outlook for SG&A expenses in FY24? - SG&A expenses are expected to start around 3% of gross billings in Q1 and gradually decline throughout the year, with a focus on investments in advanced solutions [16][17] Question: How is the company positioned to capitalize on the AI-enabled PC wave? - The company expects AI-enabled PCs to represent a mid-single-digit percentage of total PC volume in the latter half of 2024, with growth accelerating in FY25 and FY26 [18][22] Question: What is the outlook for advanced solutions (AS) growth and margins in the mid-term? - The company expects AS to return to growth in FY24, with mid-to-high single-digit growth in the second half, and remains confident in the long-term growth potential of the segment [24][26]

Core Insights - TD SYNNEX reported revenue of $15.84 billion for the quarter ended November 2024, reflecting a 10% increase year-over-year and surpassing the Zacks Consensus Estimate of $15.29 billion by 3.64% [1] - The company's EPS was $3.09, slightly down from $3.13 in the same quarter last year, but exceeded the consensus estimate of $3.06 by 0.98% [1] Revenue Breakdown - Revenue from the Americas was $9.24 billion, exceeding the two-analyst average estimate of $8.81 billion, with a year-over-year increase of 10.6% [4] - Revenue from Europe was $5.50 billion, slightly below the average estimate of $5.56 billion, representing a year-over-year change of 5.5% [4] - Revenue from Asia-Pacific and Japan reached $1.10 billion, surpassing the average estimate of $913.59 million, with a significant year-over-year increase of 31.8% [4] Stock Performance - Over the past month, TD SYNNEX shares have returned -1.9%, compared to a -2.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Investor Presentation January 2025 Safe harbor statement Statements in this presentation regarding TD SYNNEX that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward- looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of f ...

TD SYNNEX (SNX) came out with quarterly earnings of $3.09 per share, beating the Zacks Consensus Estimate of $3.06 per share. This compares to earnings of $3.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.98%. A quarter ago, it was expected that this high-tech contractor would post earnings of $2.80 per share when it actually produced earnings of $2.86, delivering a surprise of 2.14%.Over the last four quarters, the comp ...

Exhibit 99.1 TD SYNNEX Reports Fiscal 2024 Fourth Quarter and Full Year Results FREMONT, CA and CLEARWATER, FL, January 10, 2025 – TD SYNNEX (NYSE: SNX) today announced financial results for the fiscal fourth quarter and fiscal year ended November 30, 2024. Consolidated Financial Highlights for the Fiscal 2024 Fourth Quarter: GAAP ($ in millions, except earnings per share) Q4 FY24 Q4 FY23 Net Change from Q4 FY23 Revenue $ 15,844.6 $ 14,407.3 10.0 % Gross profit $ 1,040.9 $ 1,018.6 2.2 % Gross margin 6.57 % ...

Wall Street analysts forecast that TD SYNNEX (SNX) will report quarterly earnings of $3.06 per share in its upcoming release, pointing to a year-over-year decline of 2.2%. It is anticipated that revenues will amount to $15.29 billion, exhibiting an increase of 6.1% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this ...

Core Viewpoint - TD SYNNEX has experienced a year-to-date share price increase of 13.7%, which is lower than the growth of the Zacks Computer and Technology Sector at 30.6% and the S&P 500 index at 27.1% [1] Partnerships and Expansion - Recently, TD SYNNEX partnered with LastPass to enhance the accessibility of its password and identity management products for IT resellers and managed service providers in North America [2] - The company has strengthened partnerships with industry leaders such as IBM, Cisco, Elastic, and Amazon, including becoming the authorized distributor for Elastic in Australia and New Zealand [3] - TD SYNNEX is now IBM's sole distribution partner in the English and Dutch Caribbean and has received the Amazon Relational Database Service Services Delivery Specialization designation [4] Financial Performance and Challenges - The company is facing near-term growth challenges due to reduced IT spending as organizations delay investments amid global economic slowdown concerns [6] - Increased inflationary pressures have led to higher component costs and wages, negatively impacting profitability, with long-term debt rising to $3.74 billion as of August 31, 2024, from $965 million in November 2016 [7] - Major operations in China are also affected by the U.S.-China trade war, with expected revenues for Q4 2024 projected between $14.9 billion and $15.7 billion, and a Zacks Consensus Estimate of $15.3 billion indicating a year-over-year growth of 6% [8] Earnings Outlook - The Zacks Consensus Estimate for fourth-quarter earnings is projected at $3.13, reflecting a year-over-year decline of 2.24% [9]

TD SYNNEX Corporation (NYSE: SNX ) is a distributor and solutions aggregator for the IT ecosystem with diversified revenue streams. They have over 150,000 customers in more than 100 countries. The company aggregates and distributes IT hardware, software, and systems, including personal computing devices My primary focus is on value stocks showing growth potential. The 3-part strategy includes recognizing macro trends, seeking innovation, and capitalizing on event overreaction. The process begins by running ...

Core Insights - TD SYNNEX Corporation has formed a strategic partnership with Iterate.ai to enhance its AI-driven tools for resellers, positioning itself as a leader in AI adoption and enterprise-level applications [1][4] Group 1: Partnership and AI Tools - The partnership provides TD SYNNEX resellers access to Iterate.ai's technologies, including Generate, a secure AI assistant that operates on company systems, ensuring data control and integration flexibility [2] - The AI platform utilizes Retrieval-Augmented Generation techniques to derive actionable insights from data, suitable for various applications like document summarization and business intelligence [3] Group 2: Expansion of AI Offerings - The collaboration with Iterate.ai also includes Interplay, a low-code AI development environment for creating AI applications such as chatbots and personalized eCommerce solutions, addressing the rising demand for AI capabilities [5] - TD SYNNEX's focus on tech partnerships is enhancing its product portfolio and global reach, with notable collaborations including Meta Platforms, Microsoft, and Alphabet [6] Group 3: Recent Collaborations - In October 2023, Meta Platforms appointed TD SYNNEX as the exclusive North American distributor for its new business products, including the Meta Quest 3 headset and generative AI tools [7] - In January 2023, TD SYNNEX introduced a Microsoft Azure integrated fraud defense solution aimed at small and medium businesses, enhancing security against cyber threats [8] - In December 2022, the company expanded its collaboration with Alphabet, broadening its cloud solution portfolio with Google Cloud offerings across nearly 60 countries [9]

Collaboration Extends Exclaimer's Reach to Meet Demand for Email Signature Management Solutions LONDON, Sept. 12, 2024 /PRNewswire/ -- Exclaimer, the leading email signature management platform, today announced a new partnership with TD SYNNEX, a leading global distributor and solutions aggregator for the IT ecosystem. This new collaboration widens the availability of Exclaimer's best-in-class email signature solution to managed service provider (MSP) partners in North America through TD SYNNEX's distributi ...