Excellent broad-based execution by our team, coupled with continued progress on our margin-accretive strategic initiatives enabled a strong close to the fiscal year,” said Rich Hume, CEO of TD SYNNEX. “We successfully navigated a challenging market environment in fiscal year 2023, generating robust free cash flow(1) of $1.3 billion and returning $751 million to shareholders. We are well-positioned to capitalize on the growth opportunities we expect in 2024, as the IT spending environment is anticipated to rebound.”
The company reported a fiscal fourth quarter revenue of $14.4 billion, within the previously provided forecast of $14.0-15.0 billion. Non-GAAP gross billings were $19.7 billion, up from the previous forecast of $18.5-19.7 billion. Gross margin and non-GAAP gross margin were 7.07%, up 55 bps and 44 bps, respectively. Net income was $188 million, and diluted earnings per share were $2.06 and $3.13, respectively.
Fiscal 2023 cash provided by operations was $1.4 billion, and free cash flow was $1.3 billion. Shareholders received $751 million in share repurchases and dividends, up 213% from the previous year. The Board of Directors declared a Q1 dividend per share of $0.40, a 14% increase from the prior quarter.
For more information, visit the TD Synnex Website.
