TD Synnex has filed a prospectus with the Securities and Exchange Commission (SEC) for an offering of 3.238M common shares on behalf of a selling shareholder. The filing details the proposed sale, specifying that the shares are being offered by the selling shareholder and not by TD Synnex itself. Consequently, the company will not receive any proceeds from the sale of these shares.

The prospectus outlines the mechanics of the offering, including the role of the selling shareholder and the specific number of shares involved. This transaction allows the selling shareholder to liquidate a portion of their holding in the open market. TD Synnex's involvement is limited to facilitating the regulatory filing process required for the share distribution.

Offering Details

The table below summarizes the key figures disclosed in the filing:

The document serves as a formal registration statement, providing necessary information to potential investors regarding the source and nature of the shares being offered. As the shares are being sold by an existing holder, the offering will result in a change in ownership distribution without altering the company's capital structure or adding new equity to its balance sheet.

TD SYNNEX Corp reported fiscal second-quarter results for the period ended May 31, 2026, with revenue increasing 31% year over year to $19.58 billion, exceeding the analyst consensus estimate of $16.80 billion. The company achieved record non-GAAP diluted earnings per share (EPS) of $4.85, a 62.2% increase from the prior year, topping analysts’ estimates of $4.14. GAAP diluted EPS rose to $4.15 from $2.21 a year earlier. The performance was driven by broad-based strength across its Distribution and Hyve segments, with non-GAAP gross billings reaching $28.9 billion, a 33% year-over-year increase.

Patrick Zammit, Chief Executive Officer of TD SYNNEX, attributed the performance to consistent execution against its strategy and deepening relationships. The Distribution segment generated non-GAAP gross billings of $23.4 billion, up 22% year over year, while the Hyve segment reported non-GAAP gross billings of $5.5 billion, surging 117% year over year. The company returned $151 million to stockholders through share repurchases and dividends, comprising $112 million of buybacks and $39 million in dividends.

Consolidated Financial Highlights for Q2 FY26

TD SYNNEX reported substantial growth across primary financial metrics. Operating income grew 58.3% to $519 million, while net income surged 80.7% to $334 million. Non-GAAP operating income was $615 million, an increase of 49% year over year.

Segment Performance and Strategic Initiatives

The Distribution segment saw operating margin expansion, with non-GAAP operating income increasing 36% year over year to $434 million. Advanced Solutions gross billings increased 31% year over year, driven by infrastructure and security strength. Endpoint Solutions gross billings increased 13% year over year, supported by higher ASPs in PCs.

Hyve generated non-GAAP operating income of $181 million, increasing 89% year over year. Manufacturing represented approximately two-thirds of Hyve in the quarter, with supply chain services representing the remaining one-third. The company is expanding manufacturing facilities by more than 1 million square feet in the US to support hyperscalers and has secured programs with the top five US-based hyperscalers.

Fiscal 2026 Third Quarter Outlook

Looking ahead to the fiscal third quarter ending August 31, 2026, TD SYNNEX projects revenue between $18.2 billion and $19.0 billion, above the analyst consensus estimate of $16.83 billion. The company expects non-GAAP gross billings of approximately $27.7 billion and non-GAAP diluted EPS between $4.25 and $4.75, exceeding the consensus estimate of $4.03. The company forecasts GAAP diluted EPS of $3.40 to $3.90, above the $3.04 estimate.

Analyst Reactions

Following the earnings announcement, analysts adjusted their price targets on TD SYNNEX. Morgan Stanley analyst Erik Woodring maintained the stock with an Overweight rating and raised the price target from $341 to $374. Barrington Research analyst Vincent Colicchio maintained the stock with an Outperform rating and raised the price target from $202 to $325. TD SYNNEX shares fell 2.4% to trade at $271.04 on Friday.

Dividend Declaration

The Board of Directors declared a quarterly cash dividend of $0.48 per common share, a 9% increase year over year. The dividend is payable on July 31, 2026 to stockholders of record as of the close of business on July 17, 2026.