TD Synnex Clocks 4% Revenue Growth In Q4; Launches $1B Buyback; Boosts Dividend

TD Synnex Corp (NYSE: SNX) reported fourth-quarter FY22 revenue growth of 4% year-over-year to $16.2 billion, beating the consensus of $15.8 billion.
Adjusted EPS of $3.44 beat the consensus of $2.91.
The adjusted operating margin expanded by 44 bps to 3.05%.
The trailing fiscal four-quarters ROIC was 7.1% compared to 13.1% in the prior year, and the adjusted ROIC was 10.7% versus 16.0% for the previous year.
TD Synnex produced $263.7 million in free cash flow versus $520.2 million a year ago.
The company held cash and equivalents of $522.6 million.
Dividend: TD Synnex declared a quarterly dividend of $0.35/share, up 17% Q/Q.
Buyback: The board approved a share repurchase program of up to $1 billion over three years, replacing the previous three-year program.
Q1 Outlook: TD Synnex sees revenue of $15.2 billion - $16.2 billion versus the consensus of $15.85 billion. It sees non-GAAP EPS of $2.60 - $3.00, below the consensus of $3.05.
Price Action: SNX shares closed higher by 0.94% at $100.20 on Monday.

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