Ingram Micro Reports Strong Q1 2026 Financial Results with Net Sales Up 13.7%, and Double-Digit Growth in Net Income

Fiscal First Quarter 2026: Net sales of $14.0 billion, above high end of guidance range and up 13.7% over prior year Gross profit of $926.0 million, up 11.7% over prior year Net income of $98.9 million and non-GAAP net income(1) of $175.5 million, up year-over-year by 42.9% and 21.7%, respectively, on growth and continued operating efficiency Diluted earnings per share (“EPS”) of $0.42 and non-GAAP diluted EPS(1) of $0.75, at high end of guidance range Quarterly dividend increased to $0.084 per share – a sequential increase of 2.4% and 10.5% over prior year Secondary offering completed in March for 10.3 million shares, accompanied by a repurchase of 3.5 million shares from our majority owner; authorized additional capacity under the share repurchase program to make $100 million available for future use Fiscal Second Quarter 2026 Outlook: Net sales for Q2 2026 expected to be $13.6 billion to $14.0 billion – a year-over-year increase of 6.3% to 9.4% Non-GAAP diluted EPS for Q2 2026 expected to be $0.68 to $0.78 – a year-over-year increase of 11.5% to 27.9% IRVINE, Calif.--(BUSINESS WIRE)--Ingram Micro Holding Corporation (NYSE: INGM) (“Ingram Micro” or the “Company”) today reported 2026 fiscal first quarter results for the period ended March 28, 2026. The Company reported net sales of $14.0 billion, up 13.7% year-over-year, and net income on a GAAP basis of $98.9 million, or $0.42 per share, up 42.9% and 44.8% year-over-year, respectively. Non-GAAP net income of $175.5 million, or $0.75 per share,(1) was up 21.7% and 23.0% versus the same period last year, respectively. “Our first quarter was yet another strong performance with top line growth of 13.7%, on top of double-digit growth the prior year, and earnings per share at the high end of our guidance range. All four of our regions demonstrated top line growth, three of which were double digits. This was led once again by Asia Pacific reflecting our extensive global reach,” said Paul Bay, Ingram Micro’s Chief Executive Officer. “We have moved from adoption to performance on our XvantageTM platform, with AI-led net sales up more than sixty percent year-over-year in our largest countries. As we continue with our platform deployment and build on our growing portfolio of patents, we remain confident in our ability to further differentiate ourselves as a technology company and further improve our financial model to create long-term value for customers, vendors, and stockholders.” “We delivered a strong start to fiscal 2026, with double-digit growth in key profitability metrics, driven by disciplined execution, coupled with continued optimization and rigorous expense management,” said Mike Zilis, Ingram Micro’s Chief Financial Officer. “Going forward, we are managing for operating leverage, profitability and return on investment while continuing to invest in our XvantageTM platform and other strategic growth initiatives. We also remain committed to returning capital to stockholders through our increased quarterly dividend and our authorized share repurchase program. In the first quarter, we successfully completed a secondary offering of our stock, which included repurchasing $75 million of stock directly from our majority owner. Today we announced we are expanding the repurchase program to maximize flexibility to further repurchase stock in the future.” Consolidated Fiscal First Quarter 2026 Results(1) Thirteen Weeks Ended March 28, 2026 Thirteen Weeks Ended March 29, 2025 Increase vs. 2025 ($ in thousands, except per share data) Amount % of Net Sales Amount % of Net Sales Net sales $ 13,962,981 $ 12,280,843 $ 1,682,138 Gross profit 926,016 6.63% 828,762 6.75% 97,254 Income from operations 222,915 1.60% 200,864 1.64% 22,051 Net income 98,870 0.71% 69,189 0.56% 29,681 Adjusted Income from Operations 262,330 1.88% 229,283 1.87% 33,047 Adjusted EBITDA 331,197 2.37% 290,791 2.37% 40,406 Non-GAAP Net Income 175,509 1.26% 144,180 1.17% 31,329 EPS: Basic $ 0.42 $ 0.29 Diluted $ 0.42 $ 0.29 Non-GAAP EPS: Basic $ 0.75 $ 0.61 Diluted $ 0.75 $ 0.61 Consolidated Fiscal First Quarter 2026 Financial Highlights Net sales totaled $14.0 billion, compared to $12.3 billion in the prior fiscal first quarter, representing an increase of 13.7%. The growth was driven by year-over-year increases in net sales across each of our geographic segments. The translation impact of foreign currencies relative to the U.S. dollar had a 4% positive impact on the year-over-year net sales comparison. Gross profit grew to $926.0 million, from $828.8 million in the prior fiscal first quarter. Gross margin was 6.63%, compared to 6.75% in the prior fiscal first quarter. The year-over-year gross margin trend was driven by a mix shift towards lower-margin AI-infrastructure products, which resulted in an approximate 35 basis point decrease in margins versus the prior year quarter. Income from operations was $222.9 million, compared to $200.9 million in the prior fiscal first quarter. Adjusted income from operations was $262.3 million, compared to $229.3 million in the prior fiscal first quarter. The increase in income from operations was driven by the increase in our net sales noted above. Income from operations in the first quarter of 2026 included $9.5 million, or 7 basis points of net sales, of restructuring costs versus $1.9 million, or 2 basis points of net sales, in the prior year quarter. Income from operations margin was 1.60%, compared to 1.64% in the prior fiscal first quarter. Adjusted income from operations margin was 1.88% compared to 1.87% in the prior fiscal first quarter. The year-over-year comparisons are reflective of lower gross margin from sales mix factors and higher restructuring costs, both largely offset by improved operating expense leverage as selling, general and administrative (“SG&A”) costs as a percentage of net sales improved by 12 basis points compared to the prior year quarter. Adjusted EBITDA was $331.2 million, compared to $290.8 million in the prior fiscal first quarter, representing a 13.9% year-over-year increase. Diluted EPS was $0.42, compared to $0.29 in the prior fiscal first quarter. Non-GAAP diluted EPS was $0.75, compared to $0.61 in the prior fiscal first quarter. Cash used in operations was $977.9 million, compared to $200.4 million used in the prior fiscal first quarter, and adjusted free cash flow was $(962.3) million, compared to $(159.1) million in the prior fiscal first quarter. This was driven by strategic investment in working capital to support the growth of the business, but also coming off of the relatively low level of net working capital to close fiscal 2025. Regional Fiscal First Quarter 2026 Financial Highlights North America Net sales were $5.0 billion, compared to $4.4 billion in the prior fiscal first quarter. The 12.7% year-over-year increase in North American net sales was primarily driven by an increase in net sales of Advanced Solutions offerings, reflecting growth in networking and server net sales in the United States, which includes strong growth in lower margin, lower cost-to-serve AI-infrastructure product sets. Cloud-based Solutions net sales also grew in the region by 30%, despite a 15% headwind from the third quarter 2025 divestiture of our CloudBlue business. These factors were partially offset by slight declines in net sales of Client and Endpoint Solutions and Other Services. Income from operations was $82.5 million, compared to $84.4 million in the prior fiscal first quarter. Income from operations margin was 1.65%, compared to 1.90% in the prior fiscal first quarter. These results for the region were also reflective of lower gross margins due to a mix shift in our Advanced Solutions offerings category towards lower-margin AI-infrastructure products, which contributed a 87 basis point negative impact on the region’s gross margin, but is also low cost-to-serve and working capital efficient. Partially offsetting this was a decline in SG&A expenses, including compensation and headcount expenses, resulting from restructuring initiatives taken in the prior year and continued efficiencies from our XvantageTM platform. EMEA Net sales were $3.9 billion, an increase of 14.1% compared to the prior fiscal first quarter. The year-over-year increase in EMEA net sales was primarily a result of growth in Client and Endpoint Solutions, led by strength in notebooks, in addition to growth in Advanced Solutions and Cloud-based Solutions. These factors were partially offset by a decline in Other Services. The translation impact of foreign currencies relative to the U.S. dollar had a positive impact of 10% on the year-over-year net sales comparison. Income from operations was $62.3 million, compared to $57.3 million in the prior fiscal first quarter. Income from operations margin was 1.59%, compared to 1.67% in the prior fiscal first quarter. The year-over-year decrease in income from operations margin was primarily driven by the impact of lower gross margins on larger deals in our Advanced Solutions offerings. Asia-Pacific Net sales were $4.1 billion, compared to $3.6 billion in the prior fiscal first quarter. The 13.5% increase in Asia-Pacific net sales was driven by growth in Client and Endpoint Solutions, led by components, notebooks and desktops, as well as growth in Cloud-based Solutions and Other Services. These factors were partially offset by a decline in Advanced Solutions offerings. The translation impact of foreign currencies relative to the U.S. dollar had a positive impact of 1% on the year-over-year net sales comparison. Income from operations was $65.3 million, compared to $46.3 million in the prior fiscal first quarter. Income from operations margin was 1.59%, compared to 1.28% in the prior fiscal first quarter. The year-over-year increase was primarily a result of an increase in gross margin due to higher margins on Client and Endpoint Solutions and Cloud-based Solutions net sales, as well as the favorable impact of a decline in inventory write-offs. The region also benefited from lower compensation and headcount expenses. Latin America Net sales were $1.0 billion, compared to $0.8 billion in the prior fiscal first quarter. The 18.6% increase in Latin American net sales was primarily driven by growth in Client and Endpoint Solutions, led by notebooks and desktops, along with growth in net sales of Advanced Solutions and Cloud-based Solutions. The translation impact of foreign currencies relative to the U.S. dollar had a positive impact of 8% on the year-over-year net sales comparison. Income from operations was $34.0 million, compared to $23.0 million in the prior fiscal first quarter. Income from operations margin was 3.57%, compared to 2.86% in the prior fiscal first quarter. The year-over-year increase was primarily a result of an increase in gross margin due to higher margins on net sales of Client and Endpoint Solutions and Cloud-based Solutions, as well as the favorable impact of a decline in inventory write-offs. The region also benefited from improved leverage on operating expenses. Fiscal Second Quarter 2026 Outlook The following outlook is forward-looking, based on the Company’s current expectations for the fiscal second quarter 2026, and actual results may differ materially from what is indicated. We provide EPS guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. See “Use of Non-GAAP Metrics,” below. Thirteen Weeks Ended June 27, 2026 ($ in millions, except per share data) Low High Net sales $ 13,600 $ 14,000 Gross profit $ 905 $ 950 Non-GAAP Diluted EPS $ 0.68 $ 0.78 Our fiscal second quarter 2026 guidance assumes an effective tax rate of approximately 27% on a non-GAAP basis and 232.7 million diluted shares outstanding. Dividend Increase and Payment On April 30, 2026 the Company’s board of directors declared a second quarter cash dividend of $0.084 per share of the Company’s common stock, representing a 2.4% increase from the quarterly dividend of $0.082 per share paid in the first quarter of 2026. The dividend is payable on May 26, 2026, to stockholders of record as of May 12, 2026. Fiscal First Quarter 2026 Earnings Call Details: Ingram Micro’s management will host a call to discuss its results on Thursday, April 30, 2026 at 2:00 p.m. Pacific time (5:00 p.m. Eastern time). A live webcast of the conference call will be accessible from the Ingram Micro investor relations website at https://ir.ingrammicro.com. The call can also be accessed at 877-407-9781 or 201-689-8796. A telephonic replay will be available through May 20, 2026, at 877-660-6853 or 201-612-7415. A replay of the webcast will also be available at https://ir.ingrammicro.com. About Ingram Micro Ingram Micro (NYSE: INGM) is a leading technology company for the global information technology ecosystem. With the ability to reach nearly 90% of the global population, we play a vital role in the worldwide IT sales channel, bringing products and services from technology manufacturers and cloud providers to a highly diversified base of business-to-business technology experts. Through Ingram Micro Xvantage™, our AI-powered digital platform, we offer what we believe to be the industry’s first comprehensive business-to-consumer-like experience, integrating hardware and cloud subscriptions, personalized recommendations, instant pricing, order tracking, and billing automation. We also provide a broad range of technology services, including financing, specialized marketing, and lifecycle management, as well as technical pre- and post-sales professional support. Learn more at www.ingrammicro.com. (1) Use of Non-GAAP Financial Measures In addition to presenting financial results that have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), we have included in this release some or all of the following non-GAAP financial measures—adjusted income from operations, EBITDA, adjusted EBITDA, return on invested capital (“ROIC”), adjusted ROIC, non-GAAP net income, adjusted free cash flow, and non-GAAP EPS—which are financial measures that are not required by, or presented in accordance with GAAP. We believe that these non-GAAP financial measures are useful in evaluating our business and the underlying trends that are affecting our performance. These non-GAAP measures are primary indicators that our management uses internally to conduct and measure its business and evaluate the performance of its consolidated operations, ongoing results, and trends. Our management believes these non-GAAP financial measures are useful as they provide meaningful comparisons to prior periods and an alternate view of the impact of acquired businesses. These non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting our business. A material limitation associated with these non-GAAP measures as compared to the GAAP measures is that they may not be comparable to other companies with similarly titled items that present related measures differently. The non-GAAP measures should be considered as a supplement to, and not as a substitute for or superior to, the corresponding measures calculated in accordance with GAAP. See “Schedule A: Reconciliation of Non-GAAP Financial Measures” in the “Supplemental Information” section further below for reconciliations of non-GAAP financial measures to the most directly comparable financial measure stated in accordance with GAAP. Safe Harbor Statement This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “estimates,” or “anticipates,” or similar expressions which concern our strategy, plans, projections or intentions, but such words are not exclusive means of identifying forward-looking statements in this release. These forward-looking statements are included throughout this release and relate to matters such as our industry, growth strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, and other financial and operating information. By their nature, forward-looking statements: speak only as of the date they are made; are not statements of historical fact or guarantees of future performance; and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Certain important factors that involve risks and uncertainties and that could cause actual results to differ, possibly materially, from our expectations, beliefs, and projections reflected in such forward-looking statements can be found in the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections included in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. There are a number of risks, uncertainties, and other important factors that could cause our actual results to differ materially from the forward-looking statements contained in this release. Such risks, uncertainties, and other important factors include, among others, the risks, uncertainties, and factors included within the filings we make with the SEC from time to time and the following: general economic conditions, including the impacts of the ongoing conflicts in the Middle East; our estimates of the size of the markets for our products and services; our ability to identify and integrate acquisitions and technologies into our platform; our plans to continue to expand; our ability to continue to successfully develop and deploy Ingram Micro Xvantage™; our ability to retain and recruit key personnel; the competition our products and services face and our ability to adapt to industry changes and market conditions, including inflation, market volatility, and supply constraints for many categories of technology; current and potential litigation involving us; the global nature of our business, including the various laws and regulations applicable to us now or in the future; the effect of various political, geopolitical, and macroeconomic issues and developments, including changes in tariffs or global trade policies and the related uncertainties associated with such developments, import/export and licensing restrictions, and our ability to comply with laws and regulations we are subject to, both in the United States and internationally; our financing efforts; our relationships with our customers, original equipment manufacturers, and suppliers; our ability to maintain and protect our intellectual property; the performance and security of our services, including information processing and cybersecurity provided by third parties; our ownership structure; our dependence upon Ingram Micro Inc. and its controlled subsidiaries for our results of operations, cash flows, and distributions; and our status as a “controlled company” and the extent to which the interests of Platinum Equity, LLC together with its affiliated investment vehicles (“Platinum”) conflict with our interests or the interests of our stockholders. Ingram Micro, Xvantage™, and associated logos are trademarks of Ingram Micro Inc. (an indirect subsidiary of Ingram Micro Holding Corporation) or its licensors. Results of Operations INGRAM MICRO HOLDING CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except par value and share data) (Unaudited) March 28, 2026 December 27, 2025 ASSETS Current assets: Cash and cash equivalents $ 915,987 $ 1,864,724 Trade accounts receivable (less allowances of $181,106 and $169,165, respectively) 10,879,336 10,546,550 Inventory 5,179,773 4,970,113 Other current assets 948,693 859,252 Total current assets 17,923,789 18,240,639 Property and equipment, net 531,179 531,896 Operating lease right-of-use assets 407,481 403,224 Goodwill 851,397 854,749 Intangible assets, net 685,043 711,809 Other assets 547,154 502,067 Total assets $ 20,946,043 $ 21,244,384 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 11,639,638 $ 11,963,324 Accrued expenses and other 1,106,190 1,163,587 Short-term debt and current maturities of long-term debt 786,520 449,583 Short-term operating lease liabilities 106,375 104,468 Total current liabilities 13,638,723 13,680,962 Long-term debt, less current maturities 2,553,967 2,749,781 Long-term operating lease liabilities, net of current portion 358,307 354,894 Other liabilities 190,926 210,329 Total liabilities 16,741,923 16,995,966 Stockholders’ equity: Common Stock, par value $0.01, 2,000,000,000 shares authorized at March 28, 2026 and December 27, 2025, and 235,157,769 and 235,073,327 shares issued at March 28, 2026 and December 27, 2025, respectively 2,352 2,351 Additional paid-in capital 2,934,140 2,921,952 Treasury stock, at cost, 3,511,235 and 0 shares as of March 28, 2026 and December 27, 2025, respectively (75,000 ) — Retained earnings 1,667,205 1,587,330 Accumulated other comprehensive loss (324,577 ) (263,215 ) Total stockholders’ equity 4,204,120 4,248,418 Total liabilities and stockholders’ equity $ 20,946,043 $ 21,244,384 INGRAM MICRO HOLDING CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Amounts in thousands, except per share data) (Unaudited) Thirteen Weeks Ended March 28, 2026 March 29, 2025 Net sales $ 13,962,981 $ 12,280,843 Cost of sales 13,036,965 11,452,081 Gross profit 926,016 828,762 Operating expenses: Selling, general and administrative 693,641 625,965 Restructuring costs 9,460 1,933 Total operating expenses 703,101 627,898 Income from operations 222,915 200,864 Other (income) expense: Interest income (10,245 ) (13,818 ) Interest expense 70,536 74,889 Net foreign currency exchange (gain) loss (302 ) 23,717 Other 22,317 15,673 Total other (income) expense 82,306 100,461 Income before income taxes 140,609 100,403 Provision for income taxes 41,739 31,214 Net income $ 98,870 $ 69,189 Basic earnings per share $ 0.42 $ 0.29 Diluted earnings per share $ 0.42 $ 0.29 Contacts Investor Relations: Willa McManmon ir@ingrammicro.com Media: Lisa Zwick lisa.zwick@ingrammicro.com Read full story here

Ingram Micro Reports Strong Q1 2026 Financial Results with Net Sales Up 13.7%, and Double-Digit Growth in Net Income

Şirketle ilgili diğer haberler