TD SYNNEX Corporation (NYSE:SNX) Q1 2024 Earnings Call Transcript March 26, 2024 9:00 AM ET Company Participants Liz Morali - Head of IR Rich Hume - CEO Marshall Witt - CFO Conference Call Participants Adam Tindle - Raymond James George Wang - Barclays Joseph Cardoso - JPMorgan Matt Sheerin - Stifel David Vogt - UBS Vincent Colicchio - Barrington Research Michael Ng - Goldman Sachs Ruplu Bhattacharya - Bank of America Ananda Baruah - Loop Capital Keith Housum - Northcoast Research Ashish Sabadra - RBC Capit ...

• Revenue of $14.0 billion, within our outlook of $14.0 - $14.7 billion. • Non-GAAP gross billings of $19.3 billion, within our outlook of $19.0 - $20.0 billion. (1) • Gross margin and non-GAAP gross margin of 7.20%, up 57 bps and 52 bps, respectively, from the prior fiscal first quarter. (1) • Net income of $172 million, and non-GAAP net income of $266 million. (1) • Diluted earnings per share ("EPS") of $1.93, and non-GAAP diluted EPS of $2.99, at the upper end of our outlook. (1) • Cash provided by opera ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 10-K ___________________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_________________to_________________ Commission File Numbe ...

TD SYNNEX Corporation (NYSE:SNX) Q4 2023 Earnings Conference Call January 9, 2024 9:00 AM ET Company Participants Liz Morali - Head of IR Rich Hume - CEO Marshall Witt - CFO Conference Call Participants David Vogt - UBS Vince Colicchio - Barrington Research Ruplu Bhattacharya - Bank of America Michael Ng - Goldman Sachs Adam Tindle - Raymond James George Wang - Barclays Joseph Cardoso - JPMorgan Keith Housum - Northcoast Research Ashish Sabadra - RBC Capital Markets Operator Ladies and gentlemen, good morni ...

Target shareholder return of 15-20% Target TSR of 15-20% in medium-term | --- | --- | --- | |-------------------------------------------------------------------------------|-----------------------------------------|-----------------------------------------------------| | Revenue from high growth technologies expected to double in the medium-term | Target ~$1.5B of FCF (1) in medium-term | Target modest dividend growth over the medium-term | | Successful merger integration providing margin opportunities | Li ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number: 001-31892 _______________________________________________________________________ TD SYNNEX CORPORATION (Exact name of registrant as specified in its charter) _______________________________________________________________________ Washington, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ (Mark One) x ...

TD SYNNEX Corporation (NYSE:SNX) Q3 2023 Earnings Conference Call September 26, 2023 9:00 AM ET Company Participants Rich Hume - Chief Executive Officer Marshall Witt - Chief Financial Officer Liz Morali - Head of Investor Relations Conference Call Participants Ananda Baruah - Loop Capital Michael Ng - Goldman Sachs Adam Tindle - Raymond James Keith Housum - Northcoast Research Joseph Cardoso - JP Morgan Matt Sheerin - Stifel Ruplu Bhattacharya - Bank of America George Wang - Barclays Patrick Jackson - RBC ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fro ...

Financial Data and Key Metrics Changes - Non-GAAP gross profit was $969 million, with a non-GAAP gross margin of 6.9%, up 45 basis points year-over-year [14] - Total adjusted SG&A expense was $593 million, representing 4.2% of revenue, up $8 million year-over-year [14] - Non-GAAP operating income was $376 million, down 5.6% year-over-year, with a non-GAAP operating margin of 2.7%, up 6 basis points year-over-year [14] - Cash and cash equivalents at the end of the quarter were $852 million, with total debt of $4.1 billion [15] - The company returned $93 million to shareholders via dividends and share repurchases [16] Business Line Data and Key Metrics Changes - Endpoint Solutions experienced a decline in demand, while Advanced Solutions and High Growth Technologies saw growth [7][13] - High growth technology areas, including cloud, security, data, AI, IoT, and Hyperscale Infrastructure, grew in the low teens year-over-year [8] - Advanced Solutions technologies continued to see solid demand as customers focused on data center projects and cloud migrations [13] Market Data and Key Metrics Changes - The Americas faced the largest impact from post-pandemic demand declines, particularly in PC ecosystem products [30] - Europe showed resilience with smaller declines in Endpoint Solutions and strong growth in Advanced Solutions [8] - The Asia Pacific region also saw strength in high growth technologies, partially offset by declines in Endpoint Solutions [8] Company Strategy and Development Direction - The company aims to evolve from a traditional distribution partner to a solutions aggregation and orchestration partner [31] - Strategic investments in high growth technologies are one of the four pillars of the company's strategy [31] - The company has realized $200 million in merger-related cost synergies ahead of schedule and expects an additional $50 million in cost optimization [32] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about early signs of stabilization in the macroeconomic environment [11] - The company expects demand for PC ecosystem products to improve, with fiscal Q2 and Q3 representing trough levels for Endpoint Solutions [17] - Management noted that the long-term drivers of IT spending remain intact despite current challenges [11] Other Important Information - The company has added nearly 100 new vendors to its line card since the beginning of the fiscal year [33] - The cash conversion cycle for the second quarter was 24 days, down two days from the previous quarter [38] - The company expects to generate over $1 billion in free cash flow for fiscal 2023 [18] Q&A Session Summary Question: What is the current demand trend and how has it changed since March? - Management noted increased volatility in demand month-on-month, with a decline in Endpoint Solutions volumes attributed to inventory realignment across the supply chain [21] Question: Can you elaborate on the decision to adopt an opportunistic stance on cash deployment? - The company plans to utilize a 10b5-1 program for share repurchases, allowing for opportunistic buying based on stock price changes [23] Question: Are there any current trends in demand or order patterns? - Management indicated that while there are positive trends, the macro environment remains a significant factor influencing demand [54] Question: How do you see the pricing environment evolving? - There is healthy price competition, but ASPs have increased year-over-year, indicating a mix of inflationary impacts and richer configurations [59][109] Question: What is the outlook for Advanced Solutions and high-growth technologies? - Management expects some slowdown in growth due to backlog digestion but remains confident in the long-term growth trajectory [76][102] Question: How is the company positioned for the second half of the year? - Management anticipates a return to normal growth rates in 2024, with expectations of lesser declines in Q3 and Q4 [62][102]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition perio ...