SNX earnings analysis
What we found in SNX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
TD SYNNEX reported impressive second quarter results for 2026, with revenue of $19.57 billion, significantly surpassing the prior year's $14.95 billion, representing a 31.0% growth. EPS also surpassed estimates at $4.85, showing robust year-over-year improvement from $2.21.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenue increased by 31.0%, rising from $14.95 billion in Q2 2025 to $19.57 billion in Q2 2026.
- Robust EPS Increase
- Diluted EPS surged to $4.85 from $2.21, marking a 119.0% year-over-year improvement.
- Segment Revenue Growth
- Hyve Solutions grew its revenue by 49.1%, reaching $2.97 billion for the quarter.
- Improved Operating Income
- Operating income rose by 58.3% from $328 million to $519 million.
- Increased Cash Flow
- Operational cash flow was negative at $1.2 billion, impacted by higher inventory as part of growth strategies.
- Low Debt Interest Rates
- Interest expense decreased to 0.50% of revenue compared to 0.61% last year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Rising Debt Levels
- Total outstanding borrowings increased from $4.6 billion to $4.7 billion, emphasizing higher leverage that may pose risks.
- High Customer Concentration
- Continued reliance on a few large customers can lead to revenue volatility.
- Geopolitical Instabilities
- The business is exposed to risks arising from geopolitical tensions affecting supply chains.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $4.85
- Gross margin
- 6.84%
- Operating margin
- 2.65%
- Segment
- Americas: $9.54B
- Segment
- Europe: $6.04B
- Segment
- APJ: $1.02B
- Segment
- Hyve Solutions: $2.97B
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads better than the one before it.
What came before.
- 10-Q · April 2, 2026
- TD SYNNEX reported strong Q1 2026 results, with revenue of $17.16 billion, up 18.1% year-over-year, and EPS of $4.04, significantly exceeding analysts' estimates. Strong performances in both their Advanced Solutions and…
- 10-K · January 27, 2026
- TD SYNNEX reported solid growth with a 6.9% increase in total revenue to $62.51 billion for fiscal 2025, supported by gains across all segments. The company's net income soared to $827.66 million, translating to an EPS…
- 10-Q · October 1, 2025
- TD SYNNEX reported a strong Q3, with revenue rising to $15.65 billion, representing a 6.6% increase year-over-year, and significantly exceeding consensus estimates by approximately 3.5%. Gross margin improved to 7.22%…
- 10-Q · July 2, 2025
- TD SYNNEX Corporation reported a revenue of $14.95 billion for Q2 2025, showing a 7.2% increase from $13.95 billion in Q2 2024. Diluted EPS also increased to $2.99, compared to $2.73 in the prior year, reflecting robust…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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