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TD SYNNEX Corporation (SNX+1.07%) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing includes financial statements for the quarter, showing an increase in revenue to $14,531,707,000 from $13,975,253,000 in the same quarter the previous year. The increase is attributed to growth in both the Endpoint Solutions and Advanced Solutions portfolios.
Gross profit for the quarter was $998,006,000, compared to $1,005,766,000 in the previous year. The decrease in gross margin is due to a less profitable mix of products sold.
Selling, general, and administrative expenses increased to $692,485,000 from $671,545,000, primarily due to higher personnel costs and share-based compensation expenses.
Operating income for the quarter was $304,459,000, up from $302,572,000 in the previous year. The increase is primarily due to lower acquisition, integration, and restructuring costs.
Net income for the quarter was $167,537,000, down from $172,128,000 in the previous year. The decrease is attributed to higher interest expenses and finance charges.
Cash used in operating activities was $747,997,000, compared to cash provided by operating activities of $384,709,000 in the previous year, primarily due to a larger decrease in accounts payable.
TD SYNNEX had a working capital of $4,225,016,000 as of February 28, 2025. The company continues to rely on term loans, sales of accounts receivable, and its securitization program for its working capital needs.
The filing also details various financial agreements, including a $1.5 billion accounts receivable securitization program and a $3.5 billion revolving credit facility.
TD SYNNEX does not anticipate any material changes to its risk factors as disclosed in its Annual Report on Form 10-K for the fiscal year ended November 30, 2024.
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 quarterly 10-Q report dated April 2, 2025. To report an error, please email earnings@qz.com.