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Explain this story: TD Synnex Corp (SNX) (Q3 2026) Earnings Call Highlights: Record Billings Surge 40% as AI ...
TD Synnex (SNX) reported record Q3 2026 earnings, with non-GAAP gross billings surging 40% year-over-year to $31.8 billion, driven by strong growth in both its Distribution and Hyve segments, especially in AI-related technologies. While non-GAAP operating income and EPS significantly exceeded guidance, the company experienced substantial free cash flow consumption due to increased inventory and working capital investments in Hyve, impacting operating margins in that segment. Despite these pressures, the company remains optimistic about future growth, particularly in the data center and AI markets, and expects cash flow generation to normalize as new Hyve programs mature.
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TD Synnex (SNX) reported record Q3 2026 earnings, with non-GAAP gross billings surging 40% year-over-year to $31.8 billion, driven by strong growth in both its Distribution and Hyve segments, especially in AI-related technologies. While non-GAAP operating income and EPS significantly exceeded guidance, the company experienced substantial free cash flow consumption due to increased inventory and working capital investments in Hyve, impacting operating margins in that segment. Despite these pressures, the company remains optimistic about future growth, particularly in the data center and AI markets, and expects cash flow generation to normalize as new Hyve programs mature.
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Published Sep 25, 2026, 08:56 ET · on this site +1d 16h