TD SYNNEX Reports 2023 First Quarter Results

TD SYNNEX has announced financial results for the fiscal first quarter ended February 28, 2023. Highlights from the results are as follows:

  • Revenue of $15.1 billion, down 2% from the prior fiscal first quarter, up 1% in constant currency
  • Non-GAAP gross billings of $20.2 billion, up 1% from the prior fiscal first quarter
  • Operating income of $298 million, up 34% from the prior fiscal first quarter and non-GAAP operating income of $443 million, up 3% from the prior fiscal first quarter
  • Diluted earnings per share (“EPS”) of $1.75, up 28% from the prior fiscal first quarter and non-GAAP diluted EPS of $2.93, towards the high end of the guidance range provided, but down 3% from the prior fiscal first quarter primarily due to higher interest expense
  • Achieved $25 million in incremental merger-related cost synergies during the fiscal first quarter, and have recognized over $170 million to date
  • Returned $148 million to shareholders in the fiscal first quarter in the form of share repurchases and dividends

“Our broad, best-in-class portfolio and flexible business model allowed us to grow revenue in constant currency, and expand profitability and shareholder returns in the quarter. Our teams executed our strategy well, pivoting from the weaker demand environment for endpoint products to areas of growth, while simultaneously expanding margins,” said Rich Hume, CEO of TD SYNNEX. “We are confident that our variable cost structure, diversified portfolio and commitment to investing in high-growth technologies provide us with the flexibility to adjust to changes in the market environment.”

To view the full results, visit the TD Synnex website.

Source: Yahoo Finance
Source: Business Wire
Source: TD Synnex

Humble Office Has Introduced State-of-the-Art Soundproofing and Furniture Solutions Designed to Boost Workplace Productivity

Australia-based organization, Humble Office, is pleased to offer its expertise in creating stylish, functional, and soundproof solutions to enhance workspaces. With a focus on acoustic panels and furniture, Humble Office provides businesses with the necessary tools to create modern and productive workspaces that are both pleasant and efficient.

They offer a line of acoustic solutions that are designed to reduce sound reverberation and create a more peaceful working environment. Their acoustic ceiling panels come in a variety of colours, textures, and shapes to fit any office décor, making them a versatile and functional addition to any workspace. Additionally, Humble Office offers acoustic walls and dividers that are perfect for open-plan offices or small breakout spaces.

To learn more, visit the Benzinga website.

Source: Benzinga

Book now for the 2023 OPI Global Forum

The 2023 OPI Global Forum will take place at the Swissotel in Chicago (IL) on November 5 through 7. Now in its 11th year, the Forum has historically brought together a unique selection of leaders from different channels and geographies in the business products world. The programme is carefully tailored to ensure a range of on-point topics that stimulate thought and debate, and helps devise strategies for ongoing success in the sector.

An early booking rate that is valid until 30 June offers savings of up to $650. Discounts are available for second delegates from the same company, independent dealers and OPI VIP and Corporate Members. There is a free cancellation policy in place until October 5, so delegates have nothing to lose by booking early.

To learn more and register to attend, visit the OPI website.

Source: OPI