SNX - Earnings call transcript Q3 2021

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Operator

Good morning. My name is Misty and I'll be your conference operator today. I would like to welcome everyone to the TD SYNNEX Third Quarter Fiscal 2021 Earnings Call. Today's call is being recorded and all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. opening to would Investor Liz for the to Relations. time over call Morali, this remarks, like I pass At Head of Liz, begin. you may

Liz Morali

for call. and us Marshall Rich Witt, you good to and Thank Thank morning Hume, CEO for me With you today's CFO. today are everyone. joining

press reports intend statements. SEC. our on GAAP Relations the and to Reconciliations ir.synnex.com. property permission. Marshall. I and our with conference the over X-K differ benefits discussion events, XX-K or of the the we Laws, Form expenses turn website, from Federal statements of Before supply, call this be today's during the including release and section Factors let and including and to risks non-GAAP non-GAAP Also other update Form of today's to reference demand, financial growth. within result Form Actual in various call, Marshall? statements predictions, of a call mentioned we information. are earnings in other our spending, forward-looking remind me forward-looking and continue, projections statements rebroadcasted our Securities today results certain in Investor is filings may future about may included the SYNNEX X-K without these the the release, that our discussed estimates, related will not This filed in our any IT TD to earnings materially not Risk everyone and in uncertainties of contains meaning or those available merger recorded as results will do of We now the forward-looking stakeholders, we

Marshall Witt

for for I to fiscal by joined the us begin the drivers third SYNNEX legacy Thanks Liz today everyone results ended quarter XXst. who's and and August call. thanks reviewing the will today

continue discussion reflect combined to a SYNNEX and Xst, for full date we'll merger and September XXth we TD fiscal on going SYNNEX all our year-end Given of quarter closed November outlook use is the fiscal QX forward.

home results. QX both like work currently reference the that unusually of industry. today $X.X comparisons Moving given year-over-year trends to impacted year billion, by strong I performance point and to a ongoing supply chain came from out a I'd rapid adoption to the from the year fiscal legacy constraints. the constraints the will in learn Revenue impacting we experienced the ago, SYNNEX due during pandemic reflecting our slight supply decline industry and prior at are

would constraints to our earnings we QX fiscal during revenue $XXX indicated to from we June be $XXX call, million these As the million. expected impact

the in demand While quarter very shortages continued higher anticipated. were the strong, the supply chain from than be to impacts industry

quarter revenue to the difficult million. it's commercial and $XXX Demand believe precision, likely in we be software, fairly came to robust between our most to strength based. we in broad security While the And $XXX and and particular notebooks. impact quantify with million QX in continued networking, saw

prior in X.X% profit and year from or were year. EPS And the income improved billion on million X% of Xth. points $XX million, million $X.XX Our operating by rate results improved prior from basis year. bonds interest was And XX% expense prior continuing over operations versus year-over-year million increased from prior margin expectations. tax the non-GAAP $XXX manufacturing was down non-GAAP and prior with or operations up Total diluted million year. were million, million the charges $XXX was of up represented was higher and revenue. X.XX%, $X.X the SG&A due income of finance effective operating continuing $XX expense XX%. $XXX by X% Interest the XX% up Non-GAAP expense were X.X% margin in $XX and August from year. adjusted to pre-funding gross $XX QX and X% XX the $X.XX, was Total Gross of compared million non-GAAP and year-over-year. was business $XXX the was consistent to up

Now bonds totaled cash X% reflects equivalent to cash We inventories up Accounts debt $X.X turning which billion, $X.XX $X.X down billion $X.XX which $X.X and from the also the ended and totaled year-over-year billion year. of spoke previously. the related of to quarter balance with I to billion, prior sheet. of approximately merger, and approximately billion, receivable XX%

day one year. approximately $XX cycle used prior conversion in cash Cash operations was in and XX improving the million the for third days Our from quarter by was the quarter.

dividends share of We record, Directors is cash paid XXth, has the the close are to XXXX as common of business that expected quarter. approved quarterly to current stockholders XXth, per be the October dividend of on XXXX. on Board for of of pleased to $X.XX October our report The

billion. low despite to grow of is Total revenue billion our to single approximately which quarter-over-quarter, digit with Distribution expected moving is chain QX, X%. fiscal combined trends year-over-year for line Company. Now expected of in headwind reflective the to $XX TD and outlook seasonal is supply the to range revenue $XX SYNNEX of in mid to historical be

Our to strong experiencing manufacturing This chain it's of business XXXX. and a business constraints. is is in expected supply QX fiscal also to decline performance lumpy year-over-year due

that is to $XX for our are be outcomes expected which forward-looking to share we expected approximately per to regarding remains average shares a Non-GAAP of to net call $XXX expected to range with approximately XX%. tax the be million Rich. XXXX Please of the on EPS non-GAAP our $XXX approach $XX.X end expectations $X.XX materially. I the that in Our we be consistent may now our million. these $X.XX of over turn fourth fiscal business. results outstanding approximately rates expense note statements basis and expected quarter expect lower non-GAAP will the in and for to prior differ interest Non-GAAP is diluted million to million. is be range diluted guide weighted that of the manufacturing And is income guidance, towards

Rich Hume

joining at accomplished groundwork laying seasoned more combined running of post a certainly our TD around we today we've and both earlier We've from day us work, you the companies. and efforts, objectives. thanks for our this SYNNEX our lot rolling XX,XXX hard the robust And good one and our Thank official goals Since the day and hit one our been leaders last coworkers of structure We've you, than you And month, new the in to privileged am ground leadership on future organizational comprised months. Marshall our the out and I announced company. planning have new morning integration executive team today. legacy everyone. to world. six on thank for join behalf

do, I forward sharing updates look with much and have we progress. to as you However, we to

bar feedback on name are our to vendors, We value energized reflects well raise SYNNEX our and longstanding Those companies. and and our by and from two partners. the logo, legacies our opportunities to provide name reflected new we preserved of positioned the customers the in TD are new positive are our the great

is Our growth, logo, the a [ph], and symbol renewal. of expansion Nautilus

we expansion including business and will expect many the dimensions, and relationships. growth For occur our growth in us, partner of our

away impressed past We have to collective more of get our vision, know values in to come month. for also this each With the I gotten with I and shared our excellence. motivation announced talent, their even to meeting, purpose, opportunity whom and coworkers, better many mission, new commitment

potential the IT global are all. vision of remotely, ecosystem working this largely connecting behind still our united for unlocking we and Although

enter be we our industry our to the As about increase optimistic have role we QX, IT importance. fiscal much continues in in to

big our At cloud, growth a the enhanced that macro product security, we bring markets, we maintaining globally portfolio economic the be service. of have serve. uneven portfolio data to and by mobility From cautious is as our things, pandemic SYNNEX, as of global to TD geography to highest tied and optimism such industry. an technology continues we the and Our more as opportunity to sense than services offer and as to markets XXX,XXX incremental portfolio customers perspective, analytics, recovery internet and expand the some expanded of are our we our everything a from

to particular, environment spending, in industry few see our for believe for IT next least constraint supply at drivers a quarters. long-term For the the but in continued we

and low advanced sequential from as QX, We PC business digit growth across year-over-year. on noted, for distribution normal For technologies. next-generation and single demand solutions, is a and ecosystem products, robust mid seasonality strong track Marshall to perspective see the a

basis. we From discussions non-GAAP We cost vendor based are believe on still continue to to estimate this level and X% combined to million see partners over with committed impact a we months. perspective, We picture headwind represent XX% a approximate and track achieving of XX the next and an a EPS robust on significant merger demand synergies on a accretion $XXX our though customers. backlog revenue, in to a

targets. accretion one We that are our year we exceed can optimistic

As of now I begins. real work mentioned at the remarks today, my beginning the

experience integrating ready We for two this and leverage our great wealth of are companies primed of area. we'll in and task the our

the As boundless. and applications with the merger investors superior forward our to we the coworkers as SYNNEX the opportunities our tools is to you TD integration thank maintaining for I month, forward the of establishing of to on all their sharing keeping ahead updated spirit and in progress. experience is and the a on on changes and contemplate for together. and for top move my and vendor like objectives collaboration journey, IT our customers of The up integration coming Among meeting close our vision future and Americas. participation are ecosystem we and our to harmonization decisions focus us IT come I'd during and our partners. various of systems, analysts lead their of dedication our our focus In in look closing,

take questions. now will We Operator?

Operator

question Raymond [Operator James. of with the comes Tindle from first Instructions] Adam line The

Adam Tindle

the here, morning QX. the deal. we're guidance on just and Good that of first to Okay. and Thanks. some closing getting wanted with congrats revenue start I in

looked information. for X-K that I giving Tech historical the thanks and So at Data

$X guidance, at at QX last I billion SYNNEX look But $XX of the was if it's midpoint. billion, billion combined know so year. $XX.X was about think We Tech we core revenue billion. the in of $XX Data

in to of vendor tough customer here. the on and you're about if the explain I'm Maybe what can full that. it's wondering at about the you've any? or talked delta you dissynergies Hive level, learning but Just comps, hard on missing that I based any know some touch changes

Marshall Witt

to that November then provide Yeah, in measurement. quarters X-K, happy Hey year-end in. Adam, in quarters that our keep to this Rich are Data mind not chime and those legacy regards Marshall. we're Tech is can start I'll

discussions different So comments should growth depending will on. pick, focus year-over-year you that's outcome. the and quarter you on Rich's discussion and a rates you on I'd where focused seasonal which QX get think on I around

fundamentally But discuss, one year-over-year, and could and pretty a elements down standpoint, and It's are remarks typical skewing Hive past. prepared the overall probably seen my in relationship. its that I that's QX. the what the and As from did QX sound on impact of distribution relationships in we've the be

Rich Hume

Yeah. that Adam. A digit prepared in the It's things business. you'd for well. -- I mid Good couple morning. stated we you're Rich, low single distribution hope I to the remarks of heard doing

would getting negative I estimates, associated we on as our have our we that The headwind bigger, sequentially. for So, backlog seen the nor your is facing of revenue is sure. we And question, of tail not you year-on-year to the challenges merger. terms Then should that second the due piece are or end fact. the X% take piece anticipating third synergies in with a that comment supply are

actually from commented cards both teams. have day even we as of had the we the use fact, time complimentary seen beyond line for announcement, of at one sales and In the

those to beginning emerge. opportunities we So, see

Adam Tindle

That's Got just maybe Marshall, as follow-up. clarification. And helpful Thanks Rich. it. a

allocation would cash And went basis. pro just debt a and I'm levels. touch make normalized you. getting be Thank sure on on helpful. to if you You flow current I that true for and think combined levels capital entity you about free also cash could forma the leverage want over how priorities,

Marshall Witt

which once the different Sure. That's leverage. going what get think going no to we we had a the pro perspective, that on announced looking We'll bring I'll a in. to the the sheet the cash still get at times flow looked synergies in is a a believe we we from are standpoint, that And capital allocation, to -- $X We're a lot first we second all Leverage through have than the and billion. your said your of balance opening free when to have a Adam, merger. better say itself. ground But we'll Clearly the and we QX. be to we're we're that the do X.X mouthful. year. like our for up going From for we're this quarter to that expectation through last still three will to that what deal has $XXX try visibility with review. be point we that we three that good we'll March building year achieve, million merger. We're both momentum Trust also when days and the approaching that did together rest of and organizations forma cash in $XXX is back speak like. fact post-close us as And look we XX on looks after quarter, of announced like what be the were FY came that this sense call in in into to organization going to able a through in get what million XXXX.

Adam Tindle

Yeah.

like have Thank lot options. a Sounds you'll of you.

Operator

Research. with Cross Shannon next is Your from question Cross

Shannon Cross

and give bit more us the last the to bit if going you're some you sustainability seeing on, big you're SYNNEX just maybe even side? Tech quarter, again the the growth in Data of background, further can and a and you Rich, that as a what Tech opposed side maybe focused back about Thank much. Data trends on terms of -- talk you during what if very

Rich Hume

Yeah.

with So, we SYNNEX legacy be seen had the on what fairly my reflection consistent side. would

year in distribution and year and our work total. from the home So, over have industry benefited -- all the and ecosystem past business the half scenario a to year and partner from

been some trends So, positive there's there. very

work service the same that category for phases and there. over lot early very While And generation a a half at as project-based next reasons. was technologies the robust data time year place slower of category the There's the the takes of center COVID, was then, obvious a in last timeframe.

that the being strong although PC demand As to that ecosystem, we note cycle, would center still in is moderate robust. whole category on believe data exceedingly the seeing based look forward, time bit but we I a through begin that the more will anticipate

begins In some accelerated the see growth to that by has as of as the fact, be forward. demand pent-up we and we'll course, moving service moving forward dispositioned to of And see it to already a in emerge market. cloud next-generation technologies continue

would So that's how it, summarize I Shannon.

Shannon Cross

then, on bit some business was can growing you so, you for recently good you that decided about added, a what talk the capital. and Thank was financing something Okay. customers that see the it use to, a you And asking this of or magnitude were of you.

Marshall Witt

Shannon, this is Marshall.

beginning. very you the business? at say up broke financing You Did

Shannon Cross

Yes, I did.

Marshall Witt

For TD Capital?

Shannon Cross

Yeah.

Marshall Witt

believe of address and our start Okay. we balance then chime clearly prepared Yeah. have growing can both a we And Certainly can way portion in to on organizations that's to market a going know in. that go. of Rich I'll the sheet. aspect coming we the to the demand together. be take that We is risk

to of economic also as know do our satisfy be We need we to others need. partner that that to with see meaningful customers we solution a part to we continue need what

Rich Hume

So …

Shannon Cross

So, this go ahead. -- okay, is

Sorry.

Rich Hume

please. ahead, Go No.

Shannon Cross

more mean, shift was as for service and partners response a businesses just something, more and of or the companies the was this hardware to of the subscription it and a all your and had is years. that, might've financing I and I saying, number cloud to

So, I'm wondering Thank just process. you. thought

Rich Hume

Yeah.

that Shannon, both. of that value proposition cloud this provides to a customers would part the for. So the to look a core, comment looking becomes Obviously, it forward we something I meaningful service, but entire and advantage as as is are

solution, as So almost lifecycle they're kind looking of an thing. it of sort type a of end-to-end for think of

do strategy. financing to a critical go the believe So, we our element is that forward

Marshall Witt

to planning solution very globally. just Tech add we're that the one legacy Talking to robust in days deploy that. I early has Data thing Shannon, about And a merger, more

behind potential So, there's lot offering. this momentum a of

Shannon Cross

you Thank very Great. much.

Operator

question next with Jim from Suva Citigroup. is Your

Jim Suva

your comments, In year-over-year opposed you and solely sure a a I mentioned shortages, headwind. constraints want just component you. to to make X% prepared Thank number that's quarter-over-quarter. to due that's as and

Just I'm help on if that. and clarify understand me off

Rich Hume

Yes. of Good Jim, things. morning Rich. this to you. couple A is

number. year-over-year a is it first, So,

look continues a of grow. Second, business, at when the we the take backlog to it

limited fairly or pervasive. technology not one It's it's to another. Third,

well PC components solution our in what well, advanced I segment as as backlog business. call have We as the ecosystem would the segment,

our difficulty]. think, best I right are So, it's now how [technical of we portrayal

Operator

Your line Stifel. Matt is of Sheerin from the next question with

Matt Sheerin

and you good Thank Yes. morning.

that into easing sounds seen Just across seeing, you to as But there? it you're you are you get same? board. again, gotten as like have you that regarding -- the worse that XXXX, fiscal any and of it Rich, the constraints signs anticipating is look remain the into seeing you Are

Rich Hume

Yeah.

it would is we the anecdotally half impact our yes, the could of that be is to will from -- level to And year So, as work back half insight. and the year. with some of continue intelligence as good vendor/partners Matt, that there I of an get statements our to first impact say as in that run the the obviously provide

upon reduction flip, in as closely through crystal So, and our to that that through very time. each the we sort sort we're be not gradual the but with I but as be rather of that we're of the the terms they alleviate switch we're light believe of them short situation my this are to move make a to and improving move ball situation a we move of would will improve we time, sure help where clarity they'll vendors and providing on as hopefully working working forward. demands in backlog Again, with continue that

Matt Sheerin

companies. of looking margin you a Tech is of gross modeling It shifts for Thank And looks Marshall, looks mix both lot forward, couple seasonally that just like but financials Okay. margin. similar, Data, there's like just from gross is the one you. as know questions, a I on it provided,

million And proceed of XXXX, to expect an that? cadence be can and idea get the $XXX see we about we synergies you gross cuts, into as SG&A? fiscal of that when we thinking in should how So, margin

Marshall Witt

Sure. guide SYNNEX but we Matt, from GM, results as I you that will for know, QX to say don't positive. legacy was the

but and the there We from Tech quarterly that filed with forward. profile we X-K you're is thinking data some continue in to of confidence that lumpiness then what the two be SG&A, work In about XXXX good of $XXX and And forward We and out. the A look do margin the There you just build investments I backend TD, as question. company if regards in that it's the historically increased cadence expect some historically have year. the throughout our then plays And a consistent. X.X% to SG&A. the like companies might out, could happy were the to that XXXX. we'll is for So, perspective good the regards rest some how a and million could gross X% year, by range both would some earlier and going of we lot see outcomes momentum, our part think when purpose that for out. going But that to for can from we'll give fiscal the our [ph] pretty on a to have synergy subsequent the the to results. that been end at see use margin earnings, little done what like between you lighter a figure returns quarters, of more quarter. that And that we'll having on of XXXX synergies of looks we in and sense talk discussion QX

Matt Sheerin

obviously -- global results as by results there and company talk global able you could uneven And to -- operating that about a now Rich, see can by region demand combined, by just earlier say if seeing perhaps you the be forward, we was you're and Great. region, will going just I and if your well? lastly, some you're regions trends that did region, Okay. bigger by what talk much

Rich Hume

Yeah.

requiring continues, results publishing region be And tell So, picture move bit center world home is theme. work data piece. capability capacity Matt. What global more will would global also you a guess of I of the and I a a you is pent-up of refresh. is lot a run you I forward, is fueling we a view requiring the when as big India concentrated uneven albeit of the a that pockets a COVID this -- it's great home arguably is that a in took now, opportunity center for or earlier. countries. now the of is or pretty of our might had of this other and there global we idea by from see a good of the Asian is a I data obviously, in like mean, now having into pause first example pandemic be an And where but big months, little previous that is What said recovering, issues. where would tell I that of see it not some pause, as COVID, a you year you bit in that

of overall that say the might global long country short where by So, picture the I is pandemic. the a be dictated fairly within but or the is would consistent, evolution specific

Matt Sheerin

Thanks Great. lot. a Okay.

Rich Hume

It's clear Matt, that we have growth in backlog everywhere.

Matt Sheerin

it. Got

Operator

question from Capital. next line of The with Ananda Loop is Baruah the

Ananda Baruah

could. everything quick congrats questions. Hey, if and got ones, guys. thanks taking I I Yeah, on for the two

a could from then first, it value key The answering dynamic the combined to I actually been with also to line suppliers? quick to have there already you February/March, you Q&A you And Marshall. may regards the the expectation the like? follow-up that, was supplier Rich, Do an a look guys is cards. starting share -- combine think gain get for team, belief I sales mentioned, during might of using out that or that an think have also And what

Rich Hume

your for interested Tech that SYNNEX hope requests that not literally day seen is of legacy think early in line where Data vice did we and legacy had. things legacy So, customers I historically that versa. that we on what us I carried supporting cards that, we correctly, are of haven't but one, and It showed had very SYNNEX I is understand question we've on customers

system And able which I to and opportunity should what card indicator to for just we now our we'll lead us things short has. through realize be each we line other that are awareness time. good we'll relative a a fully requests time. revenue that or to in other to coming that -- that get But one opportunity right to others the good customer is bring think better there as -- these -- of a with sales early able aren't that's capable service side in be move while period So, customers, line the the extension certainly turn that pretty the of card,

would moving suggest to good should I us So, that lead a for opportunity forward.

Ananda Baruah

sounds And of to various in to one just of performed supply And to consistently a -- we a my performers portion that board of I was, proportions. extent kind if at across over in question amounts -- some the distributors because point they exciting. say, more over start clarify tier show remember may portion That good I what's guess get that where time, tier, supply. suppliers two and in two sort dynamic certain the

And it it. of was that, of I was that dynamic that that that so really time aware misinterpreting the exists I the regard, sort still in Thanks. from that question or a was is

Rich Hume

fulfill real requirement. that in is if your get pretty anticipate we'll I'm what to -- confident would that you I'm to customers. a So, vendor all have steady we was that would state And environment. apportioned to my your a with to in extent And be only time you -- vendors environment usually the working to in going to were I that be a constrained fair strong tried back when do that. perhaps to I from supply vendor. is the had support demand our on of

Ananda Baruah

for to? up. paydown, Marshall, Thanks clearing real helpful. to cadence regards Anything calibrate quick. really And That's just should debt that the our that we expectations with

Marshall Witt

question coming had, the that on here. answer same Yeah. Adam Ananda, back

rated. IT We are

and make the to we're that that'll XX capital opportunities to that's back other flow and and all that need a our as is needs spin months -- and of to but depending with to to cash of XX balance ultimately and get And reinvesting we investments mindful certainly a balanced. business, the leverage part with is the our goal. is open leverage it, cash we'd So working that debt, growth sure the then portion of the to that next stays, thought M&A announced that flow going going today free allocate then and repurchase our that of X.X business, to times part program. out in balanced, we be in a portion clearly on free properly our and into call dividend committed that Clearly two we're

Ananda Baruah

lot. Thanks it. Appreciate a Awesome.

Marshall Witt

welcome. are You

Operator

The next question Bank line is the Ruplu of from of Bhattacharya with America.

Ruplu Bhattacharya

you've taking apologize Hi. about asked, Congrats the joined -- and I least, questions. the I been don't don't questions you've companies. selling between But Thanks Rich, quarter. late. synergy on I call for between if cross they've But my at opportunities if just I think Data. SYNNEX talked Tech any I have quantified know two revenue and or targets the two

big revenue two about are must synergies, I think some synergies organizations, possible. you but cost $XXX have would talked million think you've in I that

that. on thoughts any So,

Rich Hume

Yeah.

I opportunity believe So, a forward. we move first, to as I have revenue positive to we're you synergies that with the going agree have

business SYNNEX upon of positive didn't matter form, TD business combined synergies our that a for as forward, rely in case. we a Second, case create when had going we you revenue as

typical I they're market that's paradigm a to quantify. because think hard always

the had a them is sort that of an sure now opportunity forward. to Marshall And So move we those maybe at case. earlier, that in opportunity we'll upon a relied XXXX as said closer indicated incremental And and as full those it's as our make most year to we we're to as serving get quantifying great as I moving But see us needs. we forward. business important hadn't right look we

Ruplu Bhattacharya

Got it. that. Thanks for

divested -- you potentially was side, you you SYNNEX, do TD business? mean, a on the under Is think I could kind this part more spin-off, mean, that is ask be it's that the your it some your is second on significant given that. still about have But EMS off. businesses something long-term can you thoughts could mean, Hive spun combined think the very your What into business. it's business. SYNNEX, thoughts it TD just thought for a less integrated the now, so the is long-term question, of business? point business, a an side. of how For of I revenues or for or a company probably it's but some It's this combined my I or business and that I on this but great integral significant manufacturing -- at size that a SYNNEX, significant the

Marshall Witt

this continues marshal. a Ruplu, to meaningful and part forward. strategy today Yeah. is of going It be our

building what diversify billing portfolio in important and be of going an critical As to forward, part TD base, we our aspect very our of our out overall we're the going our then customer diversifying you success strategy to still SYNNEX creating as help it's an And provide organization. a out customers. solutions go-to-market still know, to and new of

Ruplu Bhattacharya

Okay.

Okay. you Thanks sneak actually, can the you more And Rich, merger, one Data. sorry, certain plan just, when for if private before -- out you a had transformation in. Tech that. laid I for before digital went

terms have Now that different the place process somewhat? steps mean, of that in is in two and the in the on in or companies that -- changed that have that of merged, has terms expenditure you plan I that still or

Rich Hume

our and an transforming outstanding through So, customer -- to are coworker committed time. providing customer business with and vendor digitally first, we experience coworker fully experience

a given. that's So

to is pool our new second consider. -- have whole assets we relative have The piece legacy, now we TD to a of

the put legacy forward a the leverage is we solutioning that So and as from process initiative tools capabilities IT, we of and assets of bit likely the will companies. answer mixed differently all get the will be the two and that our maintained,

unlock we're So, needs. through our a excited by digital we're experience industry an making and leading going forward know value very that we of that experience customer can sure providing about lot

Ruplu Bhattacharya

Thanks the quarter. And for Okay. again congrats the all on details.

Rich Hume

Thank you.

Operator

back I questions are for There no this remarks. time. over at call turn the Rich will further closing to

Rich Hume

for I Well, returns to of could able of I and excited serve opportunities our you business this we're in, to very to partner first, I more clear of investors me. for with more The not thanks promise all are joining meaningful forward, being becoming and about the being the our that you our us. front XX now at that moving to able value, the arguably as we morning. ecosystem and look have in encouraged I'm would business our days promise engagement. insight tell shareholders with of be drive

in as at kind the And crystal that XX% will had remarks, goal now, believe that we of ball business to we in we stated right look had committed As accretion. we prepared we case our the forward. moving overachieve

investor So, is our very and the quite excited opportunities. and overall I'm customer, coworker perspective about future vendor, from an bright,

soon. thanks we'll So, talking to your be time you and for

Operator

concludes This conference call. today's

You may now disconnect.

TD SYNNEX (SNX) 28 Sep 212021 Q3 Earnings call transcript