Q1 2026 TD Synnex Corp Earnings Call Transcript

Mar 31, 2026 / 01:00 PM GMT

Release Date Price: MXN2727.15

Transcript 10-Q8-K

Key Points

Positve

TD Synnex Corp (SNX) reported record non-GAAP gross billings and non-GAAP earnings per share for Q1 2026.
The company demonstrated strong performance across both distribution and Hive businesses, with notable growth in infrastructure, security, and software.
TD Synnex Corp (SNX) achieved a Microsoft Frontier Distributor designation globally, highlighting excellence in support, security, and technical delivery.
The Hive segment saw a 95% year-over-year increase in non-GAAP gross billings, driven by demand for cloud and AI-enabled data center infrastructure.
The company returned $118 million to shareholders through share repurchases and dividends, showcasing strong capital allocation discipline.

Negative

There is cautious optimism for the second half of the fiscal year due to potential macroeconomic uncertainties.
The Hive segment's non-GAAP operating income margin decreased by 72 basis points year over year, primarily due to mix changes.
Free cash flow usage for the quarter was approximately $929 million, consistent with the prior fiscal year's first quarter.
The company is experiencing some elasticity in unit demand due to price increases, which could impact future sales volumes.
Supply chain services, while growing, are described as volatile and dependent on market conditions, which could affect future stability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SNX.N - TD Synnex Corp
Q1 2026 TD Synnex Corp Earnings Call
Mar 31, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning.

My name is Warren, and I will be your conference operator today.

I would like to welcome everyone to the TDsineex 1st quarter fiscal 2026 earnings call.

Today's call is being recorded, and all lines have been placed on mute to prevent any background noise

After the speaker's remarks, there will be a question-and-answer session.

At this time, for opening remarks, I'd like to pass the call over to Nate Friedel, head of Investor relations at TDynex.

Nate, you may begin

Thank you.

Good morning, everyone, and thank you for joining us for today's call.

Joining me on today's call are Patrick Zammit, our CEO, and David Jordan, our CFfo.

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