Description

TD SYNNEX Hits $31.8 Billion In Billings — But Why Did Cash Flow Turn Negative?

TD SYNNEX reported a strong third quarter in fiscal 2026, with both its Distribution and Hyve business segments performing above expectations and exhibiting growth that outpaces the broader market. The company achieved non-GAAP gross billings of $31.8 billion, a 40% increase year-over-year, supported by widespread strength across geographies, technologies, and customer segments. Distribution’s gross billings rose 27% year-over-year to $24.8 billion, driven by broad-based demand, especially in data center infrastructure, endpoint solutions such as PCs, and advanced solutions including infrastructure, software, and AI-related technologies. Hyve’s gross billings surged 117% year-over-year to $7 billion, with manufacturing and supply chain services growing by over 130% and 90%, respectively. Profitability showed improvement with non-GAAP operating income increasing 55% to $736 million and non-GAAP earnings per share up 59% to $5.68, both exceeding the high end of guidance ranges.