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TD SYNNEX Corporation (NASDAQ: SNX) is a prominent global player in IT distribution and business services. Established in 1980, the company has evolved into a $10.4 billion giant with over 53,000 associates worldwide. Recognized for its excellence, TD SYNNEX was ranked No. 260 on the Fortune 500 list in 2014.
The company's primary operations are divided into two key segments: Technology Solutions and Global Business Services. In the Technology Solutions segment, TD SYNNEX collaborates with over 300 leading technology manufacturers, facilitating the distribution of their products through a network of more than 20,000 value-added resellers, primarily in North America. Key product categories include IT systems, peripherals, system components, software, networking, and consumer electronics. Esteemed vendor partners include HP, Intel, Panasonic, Microsoft, Lenovo, Seagate, among others.
TD SYNNEX also excels in providing comprehensive business process outsourcing services. These services encompass technical support, renewals management, demand generation, direct sales, customer service, back-office processing, and IT outsourcing. These offerings position TD SYNNEX as a vital partner for many companies looking to streamline their operations and enhance efficiency.
The company's geographical segments cover the Americas, Europe, and APJ (Asia-Pacific and Japan), ensuring a widespread market presence and the capability to serve a diverse client base.
Recent Achievements and Projects
- TD SYNNEX continues to innovate in the IT ecosystem, aggregating and distributing hardware, software, and systems including personal computing devices, mobile phones, printers, server and datacenter infrastructure, hybrid cloud solutions, security, networking, communications, and storage solutions.
- The company has maintained strong partnerships and expanded its product offerings to meet evolving market demands.
- Ongoing projects emphasize the enhancement of their IT distribution channels and the expansion of their global business services portfolio.
TD SYNNEX's commitment to excellence and innovation makes it a pivotal entity in the IT and business services sectors, with a significant impact on the market and a promising outlook for future growth.
TD SYNNEX (NYSE: SNX) announced that Board Director Hau Lee will retire when his current term expires at the company's 2025 Annual Meeting of Stockholders. Lee has served on the Board since 2012, contributing to the company's growth and success during his tenure.
Lee currently serves as the Thoma Professor of Operations, Information and Technology at Stanford University's Graduate School of Business and Co-Director of the Stanford Value Chain Innovation Initiative. His distinguished career includes election to the National Academy of Engineering and fellowship in multiple professional societies. He is also a co-founder of DemandTec and serves on the boards of Silvaco Group and Lion Rock Group
TD SYNNEX (SNX) reported strong fiscal Q4 2024 results with revenue of $15.8 billion, exceeding their outlook of $14.9-$15.7 billion, representing a 10% increase year-over-year. The company achieved net income of $195 million and diluted EPS of $2.29, while non-GAAP diluted EPS reached $3.09.
Key financial highlights include cash flow from operations of $562 million and free cash flow of $513 million for Q4. For fiscal year 2024, the company generated $1.2 billion in operating cash flow and returned $750 million to stockholders through $612 million in share repurchases and $138 million in dividends.
The Board of Directors announced a 10% increase in quarterly dividend to $0.44 per share. Regional performance showed strong growth, with Americas revenue up 10.6%, Europe up 5.5%, and Asia-Pacific and Japan up 31.7% compared to the prior fiscal fourth quarter.
TD SYNNEX (NYSE:SNX) has unveiled its new North American Innovation Studio in partnership with IBM, located at their Clearwater, Florida headquarters. This facility is part of TD SYNNEX's Destination AI™ initiative and IBM watsonx Gold 100 program, providing partners with a dedicated space and technical expertise for AI adoption and monetization.
The Innovation Studio offers hands-on experience with advanced technologies including AI, data, automation, and hybrid cloud. It features IBM solutions like watsonx, with comprehensive pre- and post-sale support. More than 50 partners have enrolled in the watsonx Gold 100 program since May 2024.
The facility provides various interactive activities including IBM watsonx workshops, solution demos, sales pitches, webinars, and co-creation sessions. STEPS Consulting Group has already demonstrated success using watsonx through TD SYNNEX, helping an architecture and engineering firm improve project data analysis and estimate accuracy.
TD SYNNEX (NYSE: SNX) has rescheduled its fourth quarter and full year fiscal 2024 earnings release and conference call from January 9 to January 10, 2025. The change is due to the National Day of Mourning for former President Jimmy Carter and the closure of the New York Stock Exchange on January 9, 2025. The earnings announcement will be made before market open at 6:00 a.m. PT / 9:00 a.m. ET. Investors can access the quarterly earnings press release and live audio webcast at ir.tdsynnex.com, with a replay available after the call.
TD SYNNEX (NYSE: SNX) has appointed Kristie Grinnell as Executive Vice President and Chief Information Officer, effective January 20, 2025. Grinnell, who joins from DXC Technology where she served as CIO managing over 1,500 employees, succeeds Bonnie Smith, who is retiring. At DXC, Grinnell drove significant advancements in technology and business integration. Previously, she served as Global CIO and Chief Supply Chain Officer at General Dynamics Information Technology.
Grinnell, who holds a BS in Mechanical Engineering from the University of Pittsburgh and an MBA from Cornell University, will be based in the TD SYNNEX Clearwater office. She is known for her advocacy for women in STEM through organizations like Girls Who Code and STEMforHER.
TD SYNNEX (NYSE: SNX) has scheduled its fiscal 2024 fourth quarter and full year financial results announcement for January 9, 2025, before the U.S. market opens. The company will host a conference call at 6:00 a.m. PT / 9:00 a.m. ET on the same day to discuss the results. Investors can access the earnings press release and live audio webcast through ir.tdsynnex.com, with a replay available after the call.
TD SYNNEX (NYSE: SNX) has been awarded the 2024 AWS Distributor Partner of the Year award for North America, highlighting its significant contributions in revenue and AWS partner reach. The company was also named a finalist for AWS Distributor Partner of the Year (Global) and AWS Training Partner of the Year (LATAM).
The company supports AWS partners through its global cloud platform, StreamOne®, offering end-to-end management and AWS Marketplace procurement options. TD SYNNEX holds multiple AWS specializations, including Migration and Modernization, Education and Government Consulting, Cloud Operations Software competencies, and several AWS service delivery validations.
TD SYNNEX (NYSE: SNX) has completed the acquisition of IPsense's cloud migration business in Brazil. The acquisition aims to establish a new cloud competency center in Brazil, strengthening TD SYNNEX's position in the region's digital transformation landscape.
The deal integrates IPsense's cloud migration business, which specializes in AWS solutions, into TD SYNNEX's two-tier distribution model. This integration will promote partner-to-partner projects and collaboration, enabling customers to leverage shared expertise for mutual growth.
The acquisition is part of TD SYNNEX's strategy to enhance its cloud service capabilities and support channel partners in migrating customer workloads to the cloud, with plans for broader regional expansion in the future.
Maxar Intelligence has announced a strategic partnership with TD SYNNEX, a global IT ecosystem distributor, to expand access to its satellite imagery and geospatial insights through TD SYNNEX's marketplace. Maxar, which operates the most advanced commercial Earth observation constellation, provides high-resolution satellite imagery and AI-powered solutions, maintaining a 125-plus petabyte imagery archive.
The partnership will enable TD SYNNEX to offer customers access to Maxar's advanced 2D and 3D geospatial content products, including global basemaps and a 3D digital twin of Earth. As the first satellite imagery provider in TD SYNNEX's network, the service is expected to launch at the beginning of 2025.
LastPass has announced a strategic partnership with TD SYNNEX, a global IT distributor, to streamline the purchasing process for IT resellers and managed service providers (MSPs) in North America. The collaboration enables easier access to LastPass' password and identity management solutions through TD SYNNEX's distribution network.
The partnership aims to simplify deployment of secure credential management solutions, allowing partners to set up LastPass licenses for customers within hours. TD SYNNEX customers can also access LastPass' enablement and marketing resources.
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