TD SYNNEX Reports Record Fiscal 2025 Third Quarter Results

TD SYNNEX, a leading global distributor and solutions aggregator for the IT ecosystem, has released its financial results for the fiscal third quarter ended August 31, 2025. The company reported record-breaking figures in several key financial metrics, reflecting strong performance and strategic execution.

Financial Highlights

For the fiscal third quarter of 2025, TD SYNNEX reported:

• Revenue: $15.7 billion, a 6.6% increase year-over-year, surpassing the high end of the company's outlook. On a constant currency basis, revenue increased by 4.4%.
• Non-GAAP Gross Billings: $22.7 billion, up 12.1% year-over-year, also exceeding the high end of the outlook. On a constant currency basis, non-GAAP gross billings increased by 10.1%.
• Diluted EPS: $2.74, with non-GAAP diluted EPS at $3.58, both above the high end of the outlook.
• Gross Profit: $1.1 billion, compared to $961 million in the previous year.
• Gross Margin: 7.2%, up from 6.5% in the prior year.
• Operating Income: $384 million, with non-GAAP operating income at $475 million.
• Operating Margin: 2.5%, with non-GAAP operating margin at 3.0%.
• Net Income: $227 million, compared to $179 million in the previous year.
• Cash Provided by Operations: $246 million, compared to $386 million in the previous year.
• Free Cash Flow: $214 million, compared to $339 million in the previous year.

Business and Operational Highlights

TD SYNNEX's performance was driven by growth in both its Advanced Solutions and Endpoint Solutions portfolios. The company also noted a greater percentage of sales presented on a net basis due to the mix of products sold, which impacted revenue negatively by approximately 5% compared to the prior fiscal third quarter.

Regionally, the Americas saw a 2.0% increase in revenue, Europe experienced a 12.7% increase, and the Asia-Pacific and Japan (APJ) region reported a 20.4% increase in revenue.

Strategic Initiatives and Corporate Developments

During the quarter, TD SYNNEX returned $210 million to stockholders through $174 million in share repurchases and $36 million in dividends. The company also announced a quarterly cash dividend of $0.44 per common share, a 10% increase year-over-year.

Management's Perspective

Patrick Zammit, CEO of TD SYNNEX, commented, "Our third quarter non-GAAP gross billings and diluted earnings per share established new records for our company. Our performance is a clear result of our teams’ strong execution, a differentiated go-to-market strategy, and a global, end-to-end portfolio of products and services that is unrivaled."

Future Outlook

For the fiscal fourth quarter of 2025, TD SYNNEX provided the following guidance:

• Revenue: $16.5 - $17.3 billion
• Non-GAAP Gross Billings: $23.0 - $24.0 billion
• Net Income: $204 - $245 million
• Non-GAAP Net Income: $281 - $322 million
• Diluted EPS: $2.50 - $3.00
• Non-GAAP Diluted EPS: $3.45 - $3.95
• Estimated Outstanding Diluted Weighted Average Shares: 80.7 million

SEC Filing: TD SYNNEX CORP [ SNX ] - 8-K - Sep. 25, 2025