Q4 2025 TD Synnex Corp Earnings Call Transcript
Key Points
- TD Synnex Corp (SNX) reported record results for the fiscal year 2025, with gross billings increasing in the high single-digits year over year.
- The company's non-GAAP gross billings for the fourth quarter were $24.3 billion, a 15% increase year over year, and non-GAAP diluted earnings per share increased by 24%.
- Hyve, a part of TD Synnex Corp (SNX), experienced significant growth with gross billings increasing by more than 50% year over year.
- The company saw strong growth across all regions, with notable performance in North America, Europe, Asia Pacific, and Latin America.
- TD Synnex Corp (SNX) returned $742 million to shareholders in fiscal 2025, demonstrating a strong commitment to shareholder value.
- The company faces potential demand destruction due to higher component costs, such as DRAM and NAND, which could impact future growth.
- There is uncertainty regarding the impact of increased ASPs on volume, particularly in the PC market.
- The company's net revenue was impacted by a 29% reduction from gross billings, primarily due to a higher mix of software and certain Hyve programs.
- TD Synnex Corp (SNX) anticipates a cash outflow in the first quarter of fiscal 2026 due to typical seasonality and timing impacts.
- The company's non-GAAP effective tax rate increased to approximately 24% compared to 21% in the prior year, which could affect net income.
Good morning. My name is Jeannie and I will be your conference operator today. I would like to welcome everyone to the TD Synnex fourth-quarter and full year fiscal 2025 earnings call. Today's call is being recorded (Operator Instructions) Thank you.
At this time, for opening remarks, I would like to pass the call over to Nate Friedel, Head of Investor Relations at TD Synnex. Nate, you may begin.
Thank you. Good morning, everyone, and thank you for joining us for today's call. With me today is Patrick Zammit, our CEO; and David Jordan, our CFO.
Before we continue, let me remind you that today's discussion contains forward-looking statements within the meaning of the Federal securities laws, including predictions, estimates, projections, or other statements about future events, including statements about our strategy, demand, plans, and positioning, growth, cash flow, capital allocation, and stockholder return, as well as our financial expectations for future fiscal periods.
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