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

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

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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