Welcome to our dedicated page for TD SYNNEX Corporation news (Ticker: SNX), a resource for investors and traders seeking the latest updates and insights on TD SYNNEX Corporation stock.
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) reported fiscal Q1 2022 results with revenue of $15.5 billion, a 213.2% increase year-over-year, primarily due to the Tech Data merger. However, revenue fell 0.9% from Q4 FY21. Operating income rose to $222 million, with a non-GAAP operating income of $432 million. Diluted EPS was $1.37, up 10.5% from the previous quarter but down 18.9% year-over-year. The company experienced a cash usage of approximately $1.3 billion due to increased net working capital and strategic inventory purchases. Trailing ROIC declined to 9.7% from 13.1% in the prior quarter.
Ping Identity (NYSE: PING) has announced a strategic partnership with TD SYNNEX to expand access to identity security solutions across North America. This collaboration enables TD SYNNEX, a leading IT distributor, to enhance its global distribution network, leveraging its team of 22,000 tech professionals. The partnership aims to improve identity and access management (IAM) solutions, helping enterprises prevent security breaches and boost productivity. This initiative is crucial for Ping Identity's channel strategy and aims to deliver substantial value to customers and partners.
ZPE Systems has partnered with TD SYNNEX (NYSE: SNX) to enhance IT network management solutions. This collaboration allows access to ZPE's Intel-based Gen 3 out-of-band serial consoles and modular service routers, targeting large enterprises and managed service providers. The partnership addresses modern network challenges, including security and downtime, by enabling multi-vendor solutions and automation. ZPE's Nodegrid platform enhances infrastructure capabilities, while SNX provides essential support for partner sales and customer network transformation.
TD SYNNEX (NYSE: SNX) will host a virtual Investor Day on March 29, 2022, at 8:00 a.m. PT / 11:00 a.m. ET. The event will showcase the company's strategy, growth prospects, and financial performance, featuring a Q&A session with executives including CEO Rich Hume and CFO Marshall Witt. Interested parties can access the live video webcast at ir.synnex.com. Registration is available at tdsynnex2022investorday.q4ir.com.
TD SYNNEX (NYSE: SNX) will release its financial results for Q1 FY2022 on March 24, 2022, before market open. A conference call with CEO Rich Hume and CFO Marshall Witt will follow at 6:00 a.m. PT / 9:00 a.m. ET. Investors can access the earnings press release and listen to the live audio webcast through the investor relations page. The company is a major IT distributor, serving over 150,000 customers in over 100 countries.
DLT Solutions, a subsidiary of Tech Data, has secured a $167.5 million enterprise agreement with the U.S. Department of the Navy for Red Hat solutions, training, and services. This contract, awarded through NASA's SEWP government-wide acquisition contract, is a five-year deal that reinforces DLT's commitment to enhancing procurement efficiency, asset visibility, and cost savings for the Navy. DLT's Enterprise Agreement Platform will be employed to manage the contract, facilitating new revenue opportunities and improving service delivery.
Claroty has partnered with TD SYNNEX (NYSE: SNX) to offer its Claroty Platform and Medigate solutions, expanding TD SYNNEX’s cybersecurity offerings. This strategic partnership allows channel partners to purchase these solutions directly through TD SYNNEX, enhancing support for organizations needing protection for connected systems in industrial, healthcare, and enterprise environments. The Claroty Platform provides visibility, threat detection, and integrated secure remote access, critical for securing critical assets across various sectors.
TD SYNNEX has launched the Passage Program to tackle the global cybersecurity skills gap, which currently requires nearly 2.7 million professionals. This initiative comprises the Placement Initiative and the Upskill Initiative, both aimed at enhancing job readiness in cybersecurity roles. The Placement Initiative offers free training and job placement support for aspiring SOC Analysts and Junior Penetration Testers, while the Upskill Initiative helps current professionals advance their skills. This program utilizes expertise from the TD SYNNEX Cyber Range facility.
FAQ
What is the current stock price of TD SYNNEX Corporation (SNX)?
What is the market cap of TD SYNNEX Corporation (SNX)?
What does TD SYNNEX Corporation do?
Who are TD SYNNEX's key vendor partners?
What segments does TD SYNNEX operate in?
What types of business services does TD SYNNEX offer?
In which geographical regions does TD SYNNEX operate?
When was TD SYNNEX Corporation founded?
What is the value of TD SYNNEX Corporation?
How many associates does TD SYNNEX have?
What recent achievements has TD SYNNEX made?
Where can I find the latest news about TD SYNNEX?
