TD SYNNEX CORPORATION Stock Price, News & Analysis

TD SYNNEX (NYSE: SNX) will disclose its second-quarter fiscal 2022 financial results on June 28, 2022, before the U.S. market opens. The results will be discussed during a conference call at 5:00 a.m. PT / 8:00 a.m. ET the same day, led by CEO Rich Hume and CFO Marshall Witt. Interested stakeholders can access the earnings press release and a live audio webcast on the company’s investor relations website, with a replay available afterward.

TD SYNNEX (NYSE: SNX) has expanded its cloud solution portfolio with new offerings from Google Cloud, now immediately available to its partners. This strategic move enhances TD SYNNEX's cloud stack and positions it as a leading value distributor in the hybrid, multi-cloud landscape. The offerings aim to support businesses in their digital transformation journeys by providing a suite of services in AI, ML, data analytics, and collaboration. The integration of Google Cloud's capabilities is expected to empower channel partners and facilitate accelerated growth.

TD SYNNEX has entered a new exclusive agreement as a cybersecurity aggregator partner for Broadcom Software in the U.S., focusing on the SMB sector. This partnership aims to enhance customer retention and growth for channel partners by delivering Symantec cybersecurity solutions. Key benefits include partner support, strong margins, and upsell opportunities. Both companies emphasize the significance of the SMB market and aim to establish deeper trust in the Symantec brand amidst increasing cybersecurity demand.

ActZero, a cybersecurity startup, has announced a strategic partnership with TD Synnex to enhance its AI-powered managed detection and response (MDR) platform. This partnership, following an earlier collaboration with Tech Data, aims to broaden access to cybersecurity solutions for small and mid-sized businesses. The ActZero platform provides advanced protection against various cyber threats, utilizing AI for threat detection and response. TD Synnex will help accelerate the platform's adoption through its extensive global distribution network.

TD SYNNEX has launched a new managed virtual desktop Click-to-Run™ solution that leverages Azure Virtual Desktop (AVD). This offering enables businesses to deploy AVD environments quickly for remote users, enhancing flexibility and cost efficiency. The solution features two deployment options: a standalone for rapid setup and a managed option with 24/7 support, performance monitoring, and additional management services. This initiative aims to improve customer productivity and offer partners a rapid route to market.

TD SYNNEX has achieved the Amazon Web Services (AWS) Cloud Management Tools Competency, making it one of the first distributors to receive this accreditation. This recognition highlights TD SYNNEX’s specialized capabilities in cloud management tools, validated by extensive security and compliance checks. The company aims to leverage this competency to expand its network of AWS resellers globally and enhance the awareness of its StreamOne Ion platform. This designation provides access to exclusive AWS programs, thus supporting TD SYNNEX’s continued growth in the cloud services market.

TD SYNNEX (NYSE: SNX) announced its 2022 fiscal outlook during its Investor Day, aiming for adjusted net revenue growth of 6-8%. The company predicts a doubling of revenues and non-GAAP operating margins from high-growth technology sectors. Key targets include a non-GAAP operating margin of 2.5-2.7% and adjusted ROIC of 11%. Over the medium term, it expects 15-20% total shareholder returns and nearly $1.5 billion in free cash flow. These initiatives reflect a strong commitment to enhancing shareholder value and operational efficiency.

TD SYNNEX (NYSE: SNX) hosted a virtual Investor Day to discuss its strategy and medium-term financial outlook. CEO Rich Hume highlighted the company's role in the IT ecosystem and projected revenue growth of 6-7% annually, alongside a total shareholder return of 15-20% over the next three to four years. Additionally, the company aims for a non-GAAP operating margin of approximately 3%. The event included presentations and a Q&A session, further strengthening TD SYNNEX's commitment to delivering value to its customers and shareholders.