TD SYNNEX (SNX) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 FY26 results with non-GAAP gross billings of $28.9B, up 33% year-over-year, and revenue of $19.6B, up 31%, driven by strong performance in both Distribution and Hyve Solutions.

• Non-GAAP diluted EPS rose 62% year-over-year to $4.85, reflecting profitable growth and disciplined capital allocation.

• Operating margin expansion and earnings growth supported by a differentiated value proposition and global execution.

• Returned $151M to shareholders via $112M in share repurchases and $39M in dividends.

• Announced a quarterly dividend of $0.48 per share, a 9% increase year-over-year, payable July 31, 2026.

Financial highlights

• Non-GAAP gross billings reached $28.9B, up 33% year-over-year; revenue was $19.6B, up 31% year-over-year.

• Non-GAAP operating income was $615M, up 49% year-over-year; non-GAAP EPS was $4.85, up 62% year-over-year.

• GAAP operating income was $519M, up 58% year-over-year; GAAP EPS was $4.15, up 88% year-over-year.

• Free cash flow for Q2 was $(332M), reflecting investments in Hyve and working capital.

• Returned $151M to shareholders in Q2 via repurchases and dividends.

Outlook and guidance

• Q3 non-GAAP gross billings expected at $27.7B ±$500M, up 22% at midpoint; revenue expected between $18.2B and $19.0B.

• Q3 non-GAAP net income guidance is $361M ±$20M; non-GAAP EPS of $4.50 ±$0.25, up 26% at midpoint.

• Quarterly dividend of $0.48 per share payable July 31, 2026.

• Guidance assumes no material contribution from newly onboarded Hyve customers until late FY26 or early FY27.

• Guidance factors in potential component and memory supply constraints, especially for Q3.