INGM
Ingram Micro Holding Corporation21.84
+0.21+0.97%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q1 details, buyback unveiled in Q&A.
Q&A unpacked Q1 guidance with flat-to-low single-digit client/endpoint growth from sustained PC refresh but tougher comps and mobility weakness, low-mid single-digit advanced solutions without notable GPU deals, and double-digit cloud expansion—conservative amid ASP hikes and supply constraints, no Q4 pull-forward seen. Management revealed a $100M share buyback authorization from Platinum, alongside ongoing debt paydowns, dividend increases, and M&A flexibility for tuck-ins. They tackled vendor contract revisions on pricing/terms due to component costs, citing war rooms and global reach advantages. PC refresh runs into 2026. Confident tone persists; watch SMB price elasticity.
Key Stats
Market Cap
5.13BP/E (TTM)
16.93Basic EPS (TTM)
1.29Dividend Yield
0.01%Recent Filings
8-K
Secondary offering, $75M repurchase
Ingram Micro's principal stockholder, Ingram Holdco, launched a secondary offering of 8,988,764 shares at $22.25 each on March 5, 2026, with underwriters led by Morgan Stanley gaining a 30-day option for 1,348,314 more. Concurrently, Ingram repurchased $75M of shares from the seller using cash on hand, part of its $100M program—net shares outstanding barely budge. Closings targeted March 9.
10-K
FY2025 results
Ingram Micro delivered FY2025 net sales of $52.6B, up 9.5% y/y, with Q4 fueled by seasonal client/endpoint strength and AI-server demand, though gross margins slipped 51bps to 6.67% on lower-margin mix. Operating income held at 1.67% amid SG&A leverage, while segments shone: Asia-Pacific up 15% y/y on mobility, EMEA 7% on notebooks. Debt fell to $3.2B after $125M term loan paydown; free cash flow not disclosed. Q4 accelerated client growth yet compressed margins on AI shift. Platinum controls 90%. Ransomware hit systems but not materially.
8-K
Strong 2025 results, capital return
Ingram Micro crushed FY2025 with $52.6B net sales, up 9.5% year-over-year, and Q4 at $14.9B, up 11.5%, fueled by growth across all regions despite gross margin pressure from low-margin AI projects. Cash flow soared to $1.6B adjusted free cash flow in Q4; they repaid $200M term loan, declared $0.082/share dividend, and greenlit $100M buybacks. Q1 2026 guides $12.45-12.80B sales. Debt down, cash up sharply.
8-K
Q3 sales up 7.2%
Ingram Micro posted Q3 net sales of $12.6B, up 7.2% year-over-year across all regions, fueled by AI momentum and Xvantage platform gains—yet gross margin dipped to 6.90% on lower-margin mix shifts. GAAP net income hit $99.5M ($0.42/share), with ops income at $223.5M. Board hiked dividend 2.6% to $0.08/share. Q4 guides sales $14.0-14.4B.
10-Q
Q3 FY2025 results
Ingram Micro's Q3 sales hit $12.6B, up 7.2% y/y, with gross profit at $870M but margins slipping 29bps to 6.9% on heavier client/endpoint mix. Operating income edged to $224M (1.8% margin), while diluted EPS climbed 20% to $0.42, matching 235M shares. Cash dipped to $803M amid $644M operating outflow from inventory builds, yet total debt eased to $3.8B including $764M term loan (due 2031) and $355M ABL draw. Sold non-core CloudBlue unit, booking $49M loss. Platinum pledged 81% of shares as margin loan collateral.
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