TD SYNNEX Revenue Jumps 18% to $17.2B in Q1 2026 on Inventory Build

TD SYNNEX Corporation (NYSE: SNX), a technology products and services distributor, reported net revenue of $17.16 billion for the quarter ending February 28, 2026, an 18% increase from $14.53 billion in the same quarter a year earlier. Net income for the quarter reached $326.9 million, compared to $167.5 million in the prior-year period. Read more earnings reports.

Operating income rose to $489.4 million from $304.5 million a year earlier, a 61% increase. Gross profit expanded to $1.25 billion from $998.0 million, while cost of revenue climbed to $15.91 billion from $13.53 billion.

The company's inventory balance swelled to $10.98 billion as of February 28, 2026, up from $9.50 billion three months earlier and substantially higher than the prior year. Accounts receivable stood at $11.94 billion, compared to $11.71 billion at the end of November 2025.

Cash and cash equivalents declined to $1.56 billion as of February 28, 2026, down from $2.44 billion at November 30, 2025. The company reported negative cash from operations of $895.9 million for the quarter, compared to negative $748.0 million in the year-earlier period.

Diluted earnings per share came in at $4.04, more than double the $1.98 reported in the first quarter of fiscal 2025. The weighted average diluted share count fell to 80.2 million shares from 84.0 million shares a year earlier.

Total assets rose to $35.08 billion as of February 28, 2026, from $34.25 billion at the end of November 2025. Total liabilities increased to $26.30 billion from $25.80 billion over the same period. Stockholders' equity reached $8.78 billion, up from $8.45 billion three months prior.

Selling, general and administrative expenses totaled $762.8 million for the quarter, compared to $693.5 million in the prior-year period. Income tax expense amounted to $95.5 million, up from $47.3 million a year earlier.