TD SYNNEX (SNX) Q2 2025 Earnings Call Transcript
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TD SYNNEX (NYSE:SNX) delivered double-digit top-line and bottom-line growth on a non-GAAP basis in Q2 FY2025, surpassing internal forecasts, as management cited demand pull-forwards and broad participation across segments and geographies. The company disclosed an incremental $100 million–$200 million revenue benefit and $10 million gross profit attributable to early orders, primarily in PCs, with ongoing strength anticipated from refresh cycles. Gross margin as a percentage of gross billings remained stable sequentially but highlighted segment pressure, particularly in Hive, due to FX and program shift, offset by strong margin mix from Endpoint and component business. Free cash flow and working capital saw significant improvement, propelling confidence in the annual $1.1 billion free cash flow target, supported by robust operations in Hive and optimization initiatives. Management’s outlook remains prudent due to high uncertainty around tariffs, macroeconomic factors, and the Middle East, with a muted growth trajectory factored into Q3 and full-year guidance.
Source Fool.com
