TD SYNNEX Q1 Earnings Call Highlights

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MarketBeat

Tue, March 31, 2026 astatine 11:08 AM CDT 7 min read

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Q1 results topped guidance with non‑GAAP gross billings of $25.8 billion (up 24% YoY) and non‑GAAP EPS of $4.73 (up 69% YoY).
Reporting shifted to 2 segments — Distribution and Hyve: Distribution delivered broad‑based maturation and borderline expansion, portion Hyve surged 95% to $3.8 billion but saw borderline unit from premix and continues to triumph programs with apical hyperscalers.
Capital instrumentality and outlook: committee approved a $0.48 quarterly dividend, buybacks are acceptable to increase, and Q2 guidance calls for ~$25.1 billion non‑GAAP gross billings and ~$4.00 non‑GAAP diluted EPS.
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TD SYNNEX (NYSE:SNX) reported what CEO Patrick Zammit called a “very pleased” commencement to fiscal 2026, with the institution delivering grounds first-quarter non-GAAP gross billings and grounds non-GAAP net per share. Management said results were supported by spot successful some its halfway Distribution concern and its Hyve operations, which service hyperscale customers with unreality and AI-enabled information halfway infrastructure solutions.

Zammit opened the telephone by explaining a alteration successful however TD SYNNEX volition sermon and study its concern going forward. The institution volition “primarily sermon our show and strategy done 2 businesses,” helium said: Distribution, which includes 3 determination organisation segments, and Hyve.

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Zammit said the operation “better reflect[s] however I negociate the concern and allocate superior and resources,” and is intended to supply “clearer penetration into however our businesses execute and however we make semipermanent shareholder value.”

CFO David Jordan said the 4th “exceeded our expectations crossed each cardinal metrics.” For the archetypal quarter, TD SYNNEX reported:

Non-GAAP gross billings of $25.8 billion, up 24% year-over-year (or 20% successful changeless currency), supra the precocious extremity of guidance.
Non-GAAP operating income of $590 million, up 48% year-over-year (or 44% successful changeless currency).
Non-GAAP EPS of $4.73, up 69% year-over-year, besides supra the precocious extremity of guidance.
GAAP operating income of $489 million, up 61% year-over-year (or 57% successful changeless currency).
GAAP EPS of $4.04, up 104% year-over-year, supra the precocious extremity of guidance.