Synnex Technology International Full Year 2023 Earnings: Revenues Beat Expectations, EPS In Line

by themoneyoffice2.com@gmail.com March 18, 2024 · Technology

Synnex Technology International (TWSE:2347) Full Year 2023 Results

Key Financial Results

Revenue: NT$396.0b (down 6.7% from FY 2022).
Net income: NT$7.29b (down 54% from FY 2022).
Profit margin: 1.8% (down from 3.7% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: NT$4.37 (down from NT$9.44 in FY 2022).

TWSE:2347 Revenue and Expenses Breakdown March 18th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Synnex Technology International Revenues Beat Expectations

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) was mostly in line with analyst estimates.

The primary driver behind last 12 months revenue was the Distribution Business Group segment contributing a total revenue of NT$275.4b (70% of total revenue). Notably, cost of sales worth NT$378.4b amounted to 96% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to NT$7.28b (71% of total expenses). Explore how 2347’s revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan.

Performance of the Taiwanese Electronic industry.

The company’s shares are up 6.4% from a week ago.

Risk Analysis

You still need to take note of risks, for example – Synnex Technology International has 3 warning signs (and 1 which makes us a bit uncomfortable) we think you should know about.

Valuation is complex, but we’re helping make it simple.

Find out whether Synnex Technology International is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

View the Free Analysis

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