TD SYNNEX CORPORATION Stock Price, News & Analysis

Siklu has announced a distribution agreement with TD SYNNEX for its millimeter wave products, targeting enterprise network customers in over 100 countries. This partnership focuses on delivering cost-effective, Gigabit-speed wireless connectivity, essential for the growing need for cloud-based services. Both companies aim to leverage their strengths, with TD SYNNEX's 50-year legacy in IT and telecom products complementing Siklu's leadership in millimeter wave technology.

TD SYNNEX (NYSE: SNX) reported fiscal Q1 2022 results with revenue of $15.5 billion, a 213.2% increase year-over-year, primarily due to the Tech Data merger. However, revenue fell 0.9% from Q4 FY21. Operating income rose to $222 million, with a non-GAAP operating income of $432 million. Diluted EPS was $1.37, up 10.5% from the previous quarter but down 18.9% year-over-year. The company experienced a cash usage of approximately $1.3 billion due to increased net working capital and strategic inventory purchases. Trailing ROIC declined to 9.7% from 13.1% in the prior quarter.

Ping Identity (NYSE: PING) has announced a strategic partnership with TD SYNNEX to expand access to identity security solutions across North America. This collaboration enables TD SYNNEX, a leading IT distributor, to enhance its global distribution network, leveraging its team of 22,000 tech professionals. The partnership aims to improve identity and access management (IAM) solutions, helping enterprises prevent security breaches and boost productivity. This initiative is crucial for Ping Identity's channel strategy and aims to deliver substantial value to customers and partners.

ZPE Systems has partnered with TD SYNNEX (NYSE: SNX) to enhance IT network management solutions. This collaboration allows access to ZPE's Intel-based Gen 3 out-of-band serial consoles and modular service routers, targeting large enterprises and managed service providers. The partnership addresses modern network challenges, including security and downtime, by enabling multi-vendor solutions and automation. ZPE's Nodegrid platform enhances infrastructure capabilities, while SNX provides essential support for partner sales and customer network transformation.

TD SYNNEX (NYSE: SNX) will host a virtual Investor Day on March 29, 2022, at 8:00 a.m. PT / 11:00 a.m. ET. The event will showcase the company's strategy, growth prospects, and financial performance, featuring a Q&A session with executives including CEO Rich Hume and CFO Marshall Witt. Interested parties can access the live video webcast at ir.synnex.com. Registration is available at tdsynnex2022investorday.q4ir.com.

TD SYNNEX (NYSE: SNX) will release its financial results for Q1 FY2022 on March 24, 2022, before market open. A conference call with CEO Rich Hume and CFO Marshall Witt will follow at 6:00 a.m. PT / 9:00 a.m. ET. Investors can access the earnings press release and listen to the live audio webcast through the investor relations page. The company is a major IT distributor, serving over 150,000 customers in over 100 countries.

DLT Solutions, a subsidiary of Tech Data, has secured a $167.5 million enterprise agreement with the U.S. Department of the Navy for Red Hat solutions, training, and services. This contract, awarded through NASA's SEWP government-wide acquisition contract, is a five-year deal that reinforces DLT's commitment to enhancing procurement efficiency, asset visibility, and cost savings for the Navy. DLT's Enterprise Agreement Platform will be employed to manage the contract, facilitating new revenue opportunities and improving service delivery.

Claroty has partnered with TD SYNNEX (NYSE: SNX) to offer its Claroty Platform and Medigate solutions, expanding TD SYNNEX’s cybersecurity offerings. This strategic partnership allows channel partners to purchase these solutions directly through TD SYNNEX, enhancing support for organizations needing protection for connected systems in industrial, healthcare, and enterprise environments. The Claroty Platform provides visibility, threat detection, and integrated secure remote access, critical for securing critical assets across various sectors.