TD Synnex Corp. reported first-quarter FY22 revenue growth of 213.2 percent year-over-year to $15.47 billion, beating the consensus of $15.31 billion. Revenue fell 0.9 percent Q/Q. Adjusted EPS of $3.03 beat the consensus of $2.73. The adjusted operating margin contracted by 37 bps to 2.79 percent. The trailing fiscal four quarters ROIC was 9.7 percent compared to 16.8 percent in the prior year, and the adjusted ROIC was 13.9 percent versus 17.8 percent for the previous year. TD Synnex used $1.3 billion in operating cash flow reflecting the temporary increase in net working capital to support revenue growth and strategic inventory purchases. The company held cash and equivalents of $510.2 million. Dividend: TD Synnex declared a quarterly dividend of $0.30/share. 2Q22 Outlook: TD Synnex sees revenue of $14.8 billion–$15.8 billion, versus the consensus of $15.1 billion. It sees non-GAAP EPS of $2.40–$2.80 versus the consensus of $2.54. FY22 Outlook: TD Synnex raised non-GAAP …
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