TD Synnex Corp
F:SUX
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TD Synnex Corp
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TD Synnex Corp
In the rapidly evolving landscape of technology distribution, TD Synnex Corp. stands as a formidable player, skillfully navigating the complexities of the global supply chain. Born from the merger of Tech Data and Synnex, the company operates at the confluence of technology, marketing, and services, providing an extensive range of IT solutions to a diverse clientele that includes resellers, system integrators, and service providers. With a presence in over 100 countries and an expansive portfolio of products spanning data center to cloud, and beyond, TD Synnex leverages its vast network to bridge the gap between technology manufacturers and end-users, ensuring efficient distribution and seamless integration of cutting-edge innovations.
Central to TD Synnex's business model is its ability to generate value through robust vendor-partner relationships and a sophisticated logistics infrastructure. By procuring technology products from leading manufacturers, the company aggregates offerings into comprehensive solutions that address specific business needs. These solutions are then distributed to their clients, who in turn deliver them to the final consumers. This intricate process not only involves selling hardware and software but also providing ancillary services like consultancy, training, and support. By monetizing through these multifaceted interactions, TD Synnex ensures a steady stream of revenue, while fostering growth and innovation within the technology ecosystem.
In the rapidly evolving landscape of technology distribution, TD Synnex Corp. stands as a formidable player, skillfully navigating the complexities of the global supply chain. Born from the merger of Tech Data and Synnex, the company operates at the confluence of technology, marketing, and services, providing an extensive range of IT solutions to a diverse clientele that includes resellers, system integrators, and service providers. With a presence in over 100 countries and an expansive portfolio of products spanning data center to cloud, and beyond, TD Synnex leverages its vast network to bridge the gap between technology manufacturers and end-users, ensuring efficient distribution and seamless integration of cutting-edge innovations.
Central to TD Synnex's business model is its ability to generate value through robust vendor-partner relationships and a sophisticated logistics infrastructure. By procuring technology products from leading manufacturers, the company aggregates offerings into comprehensive solutions that address specific business needs. These solutions are then distributed to their clients, who in turn deliver them to the final consumers. This intricate process not only involves selling hardware and software but also providing ancillary services like consultancy, training, and support. By monetizing through these multifaceted interactions, TD Synnex ensures a steady stream of revenue, while fostering growth and innovation within the technology ecosystem.
Record quarter: TD SYNNEX said first-quarter fiscal 2026 non-GAAP gross billings of $25.8 billion and non-GAAP EPS of $4.73 were both record highs and above the top end of guidance.
Broad strength: Distribution and Hyve both outperformed, with distribution led by PCs, infrastructure, security and software, while Hyve benefited from strong cloud and AI data center demand.
Pricing backdrop: Management said price increases from memory and CPU costs are working through the channel, but they have not seen meaningful demand destruction yet.
Hyve momentum: Hyve won 2 new hyperscale customers in 2026 and now has at least 1 program with each of the top 5 U.S.-based hyperscalers, though the ramp will take time.
Q2 outlook: The company guided to second-quarter non-GAAP gross billings of about $25.1 billion and non-GAAP EPS of about $4, while staying cautiously optimistic on the back half of the year.