TD SYNNEX Corporation (SNX) Earnings Call Transcripts

TD SYNNEX Corporation's Latest Earnings Call - Q1 FY2026

In the first quarter of fiscal 2026, TD SYNNEX Corporation reported record non-GAAP gross billings of $25.8 billion, a 24% increase year-over-year, and non-GAAP earnings per share of $4.73, up 69% year-over-year. The results exceeded management's expectations and guidance, driven by strong performance in both the distribution and Hyve segments. Management raised guidance for the second quarter, expecting non-GAAP gross billings of approximately $25.1 billion, reflecting a year-over-year increase of 16%.

Reported metrics

Guidance from management

For Q2, management expects non-GAAP gross billings of approximately $25.1 billion, plus or minus $500 million, and non-GAAP diluted EPS of approximately $4, plus or minus $0.25, representing a year-over-year increase of approximately 34%.

What management said

Okay. David, thanks for the question. So I mean, very pleased with the performance this quarter, distribution and of course, Hyve. So yes, the growth came from the 2 main customers. As I mentioned, the diversification has started, but the ramp-up of the programs we won is going to take a little bit of time. So we believe that we are going to see really the impact of the ramp-up more towards the end of fiscal year '...

Yes. So thanks for the question. So indeed, in Q1, no impact on margin. I would add that we built inventory at the end of last fiscal year to be able to cope with -- or I should say, smoothen the introduction of price increases for our customers. What we've done is to work very closely with both the vendors and our customers in order for them to be in a position to anticipate some of the price increases and reflect...

What analysts pressed on

Analysts expressed concerns regarding potential demand destruction due to significant price increases, with some fearing that high prices could push customers to the refurbished market. There is also uncertainty about how demand will react to ongoing inflationary pressures in the market.

Main topics on the call

• Record Earnings and Billings — TD SYNNEX achieved record non-GAAP gross billings of $25.8 billion, exceeding the high end of guidance. CEO Patrick Zammit stated, "We are very pleased with how we started fiscal year '26."
• Strong Performance in Distribution — The distribution segment generated non-GAAP gross billings of $22 billion, up 17% year-over-year. This growth was supported by strong demand for PCs and infrastructure software, as noted by CFO David Jordan: "Distributio...
• Hyve Segment Growth — Hyve reported non-GAAP gross billings of $3.8 billion, a remarkable 95% increase year-over-year. Management highlighted that this growth was driven by demand for AI-enabled data center infrastructure, with Patrick Zammit...
• Guidance for Q2 — Management provided guidance for Q2, expecting non-GAAP gross billings of approximately $25.1 billion, plus or minus $500 million. This reflects a year-over-year increase of approximately 16% at the midpoint, indicating ...

Read the full TD SYNNEX Corporation transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 33 TD SYNNEX Corporation earnings call transcripts on record, spanning January 9, 2020 to June 25, 2026. Based on this history, TD SYNNEX Corporation reports quarterly. The most recent call on file is dated June 25, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SNX

Exchange

NYSE

Country

US

Sector

Information Technology

Industry

Electronic Equipment, Instruments and Components

Calls on record

33

First call

January 9, 2020

Most recent

June 25, 2026

Reporting cadence

quarterly