In This Story
TD SYNNEX Corporation (SNX+1.62%) has submitted its annual report on Form 10-K for the fiscal year ended November 30, 2024 filing.
The filing includes financial statements for the year, showing consolidated revenue of $58.5 billion, an increase from $57.6 billion in the previous year. The increase was primarily driven by growth in the Advanced Solutions portfolio.
Gross profit for the year was $4.0 billion, with a gross margin of 6.81%, slightly down from 6.87% in the previous year due to higher strategic technologies margins in the prior year.
Selling, general, and administrative expenses were $2.7 billion, representing 4.65% of revenue, consistent with the previous year.
The company reported an operating income of $1.2 billion, up from $1.1 billion in the previous year, primarily due to lower acquisition, integration, and restructuring costs.
Interest expense and finance charges were $319 million, an increase from $288 million in the previous year, due to higher discount fees and average interest rates.
Net income for the year was $689 million, compared to $627 million in the previous year, reflecting the increase in operating income.
Cash provided by operating activities was $1.2 billion, while cash used in investing and financing activities was $194 million and $953 million, respectively.
TD SYNNEX had a working capital of $4.1 billion as of November 30, 2024. The company maintains various credit facilities and borrowings to support its operations.
The filing also details the company's strategy, focusing on digital transformation, hybrid cloud, security, and expanding its global footprint.
The company continues to face risks related to economic conditions, competition, and changes in foreign currency exchange rates, as outlined in the risk factors section of the report.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TD SYNNEX Corporation annual 10-K report dated January 24, 2025. To report an error, please email earnings@qz.com.