Ingram Micro Reports Record Q2 2026 Results Exceeding the High End of Guidance Across All Financial Metrics with Significant Operating Leverage

Fiscal Second Quarter 2026: Net sales of $14.5 billion, above high end of guidance range and up 13.6% over prior year Gross profit of $958.7 million, up 14.2% over prior year Net income of $110.9 million and non-GAAP net income(1) of $191.4 million, up year-over-year by 193.1% and 34.5%, respectively, demonstrating scalability of Ingram Micro’s operating model Diluted earnings per share (“EPS”) of $0.48 and non-GAAP diluted EPS(1) of $0.82, well above the high end of guidance range Quarterly dividend increased to $0.086 per share – a sequential increase of 2.4% and 10.3% over prior year Secondary offering completed in May for 14.5 million shares, inclusive of our purchase of 1.2 million shares to further reduce the ownership stake of our primary shareholder Fiscal Third Quarter 2026 Outlook: Net sales for Q3 2026 expected to be $13.55 billion to $13.95 billion - a year-over-year increase of 7.5% to 10.7% Non-GAAP diluted EPS for Q3 2026 expected to be $0.72 to $0.82 IRVINE, Calif.--(BUSINESS WIRE)--$INGM #ingrammicro--Ingram Micro Holding Corporation (NYSE: INGM) (“Ingram Micro” or the “Company”) today reported 2026 fiscal second quarter results for the period ended June 27, 2026. The Company reported net sales of $14.5 billion, up 13.6% year-over-year, and net income on a GAAP basis of $110.9 million, or $0.48 per share, up 193.1% and 200.0% year-over-year, respectively. Non-GAAP net income of $191.4 million, or $0.82 per share,(1) was up 34.5% and 34.4% versus the same period last year, respectively. “We delivered the strongest second quarter results in Ingram Micro’s history, exceeding our guidance and demonstrating the strength of our global business, diversified portfolio, and disciplined execution,” said Paul Bay, Ingram Micro’s Chief Executive Officer. “Our performance reflects healthy demand across the business, with growing evidence that our Xvantage™ platform is creating meaningful differentiation as we help partners monetize and deliver solutions across hardware, software, cybersecurity and cloud. AI also continues to represent a significant and expanding opportunity. Our net sales remain balanced and well diversified across lines of business and geographies, and we were particularly pleased that Asia Pacific was our second-largest region in the quarter in terms of both net sales and operating margin.” “Our second quarter results highlight the scalability and earnings power of our operating model,” said Mike Zilis, Ingram Micro’s Chief Financial Officer. “While we are quite pleased with double digit growth in gross profit dollars, our focus on disciplined execution, operating efficiency and quality of business yielded growth in Non-GAAP net income at a rate well over two-times that of gross profit and non-GAAP EPS of $0.82, well above the high end of our guidance range.” Consolidated Fiscal Second Quarter 2026 Results(1) Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Increase vs. 2025 ($ in thousands, except per share data) Amount % of Net Sales Amount % of Net Sales Net sales $ 14,531,069 $ 12,793,956 $ 1,737,113 Gross profit 958,679 6.60 % 839,159 6.56 % 119,520 Income from operations 235,970 1.62 % 142,816 1.12 % 93,154 Net income 110,866 0.76 % 37,826 0.30 % 73,040 Adjusted income from operations 280,381 1.93 % 200,827 1.57 % 79,554 Adjusted EBITDA 355,780 2.45 % 293,949 2.30 % 61,831 Non-GAAP net income 191,364 1.32 % 142,330 1.11 % 49,034 EPS: Basic $ 0.48 $ 0.16 Diluted $ 0.48 $ 0.16 Non-GAAP EPS: Basic $ 0.83 $ 0.61 Diluted $ 0.82 $ 0.61 Consolidated Fiscal Second Quarter 2026 Financial Highlights Net sales totaled $14.5 billion, compared to $12.8 billion in the prior fiscal second quarter, representing an increase of 13.6%. 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 1% positive impact on the year-over-year net sales comparison. Gross profit grew to $958.7 million, from $839.2 million in the prior fiscal second quarter. The prior fiscal second quarter included the impact of a write-down of $10.5 million in connection with held-for-sale accounting for a group of assets of a non-core operation in our North America region. Gross margin was 6.60%, compared to 6.56% in the prior fiscal second quarter. Our prior fiscal year second quarter gross margin included a negative impact of 8 basis points from the previously noted held-for-sale accounting. This year-over-year comparison also reflects a shift in sales mix towards lower-margin AI-infrastructure products in the current fiscal second quarter compared to the prior fiscal second quarter. Lastly, the translation impact of foreign currencies relative to the U.S. dollar had a positive impact of 5 basis points on the year-over-year comparison of gross margin. Income from operations was $236.0 million, compared to $142.8 million in the prior fiscal second quarter. Income from operations in the prior year second quarter included write-downs related to held-for-sale accounting for the sale of our CloudBlue operations and another non-core business in our North America region, which reduced income from operations by $43.2 million, or 34 basis points. The remaining $49.9 million, or 26.8%, increase in income from operations was driven by the increase in our gross profit noted above coupled with leverage on our operating expenses. Adjusted income from operations was $280.4 million, compared to $200.8 million in the prior fiscal second quarter. $10.5 million of the aforementioned held-for-sale accounting charge was included in the prior fiscal second quarter adjusted income from operations. The remaining $69.1 million, or 32.7%, increase in adjusted income from operations is driven by growth in gross profit and leverage on our operating expenses as noted above. Income from operations margin was 1.62%, compared to 1.12% in the prior fiscal second quarter (1.46% excluding the held-for-sale accounting charge in the prior fiscal second quarter). Adjusted income from operations margin was 1.93% compared to 1.57% in the prior fiscal second quarter (1.65% excluding the held-for-sale accounting charge in the prior fiscal second quarter). The year-over-year comparisons are reflective of a reduction in selling, general and administrative (“SG&A”) expenses as a percentage of net sales, partially offset by a shift in sales mix towards lower-margin AI-infrastructure products in the current fiscal second quarter. Adjusted EBITDA was $355.8 million, compared to $293.9 million in the prior fiscal second quarter, representing a 21.0% year-over-year increase. Diluted EPS was $0.48, compared to $0.16 in the prior fiscal second quarter. Non-GAAP diluted EPS was $0.82, compared to $0.61 in the prior fiscal second quarter. Cash used in operations was $533.2 million, compared to $298.0 million used in the prior fiscal second quarter, and adjusted free cash flow was $(527.3) million, compared to $(262.8) million in the prior fiscal second quarter. This was primarily driven by heavier investment in inventory in the current fiscal second quarter to support the growth of the business ahead of ongoing supply constraints and related increases in average selling prices, offset in part by higher net income in the current fiscal second quarter. Regional Fiscal Second Quarter 2026 Financial Highlights North America Net sales were $5.3 billion, compared to $5.0 billion in the prior fiscal second quarter. The 6.0% year-over-year increase in North American net sales was primarily driven by an 8% increase in net sales of Client and Endpoint Solutions, driven by growth in notebooks and desktops. Net sales of Advanced Solutions offerings increased by 3% driven by growth in net sales of storage, cybersecurity and infrastructure software in the United States. Cloud-based Solutions net sales increased by 35%. Excluding the impact of our CloudBlue divestiture, net sales of Cloud-based Solutions were up by 54% year-over-year. Income from operations was $73.5 million, compared to $32.8 million in the prior fiscal second quarter. Income from operations margin was 1.39%, compared to 0.66% in the prior fiscal second quarter. The comparison benefited from the impact in the prior year period of write-downs relating to held-for-sale accounting of our CloudBlue operations and another non-core business described above, which had a negative impact of 87 basis points to the region’s income from operations in the prior quarter. The region also saw a 47 basis point reduction in compensation and headcount expenses largely as a result of the restructuring initiatives taken in the current and prior year. This benefit was partially offset by a decline in gross margin due to a shift in sales mix towards our lower-margin Client and Endpoint Solutions as well as a 9 basis point increase in professional and outside services costs and a 9 basis point increase in other miscellaneous expenses. EMEA Net sales were $3.7 billion, an increase of 7.7% compared to the prior fiscal second quarter. The year-over-year increase in EMEA net sales was led by 10% growth in Advanced Solutions and 44% growth in Cloud-based Solutions, coupled with 7% growth in Client and Endpoint 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 2% on the year-over-year net sales comparison. Income from operations was $54.6 million, compared to $55.7 million in the prior fiscal second quarter. Income from operations margin was 1.46%, compared to 1.60% in the prior fiscal second quarter. The year-over-year decrease in income from operations margin was driven by an increase in expenses as a percentage of net sales in the region, including a 16 basis point increase in restructuring costs and a 7 basis point increase in bad debt expense. These were partially offset by a 3 basis point reduction in depreciation expense and a 2 basis point reduction in repair and maintenance expenses. Asia-Pacific Net sales were $4.4 billion, compared to $3.5 billion in the prior fiscal second quarter. The 27.1% increase in Asia-Pacific net sales was driven by 19% growth in Client and Endpoint Solutions, led by mobility distribution, components and desktops. Net sales of Advanced Solutions offerings increased by 51% driven by GPU and AI-infrastructure product sets. Additionally, Cloud-based Solutions also grew by 87%. 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 negative impact of 1% on the year-over-year net sales comparison. Income from operations was $94.0 million, compared to $43.6 million in the prior fiscal second quarter. Income from operations margin was 2.13%, compared to 1.25% in the prior fiscal second quarter. The year-over-year increase was a result of a 28 basis point increase in gross margin across all categories, but led by Cloud-based Solutions, paired with a reduction in SG&A expenses as a percentage of net sales in the region, particularly in compensation and headcount expenses as well as legal claims and settlement expenses. Latin America Net sales were $1.1 billion, compared to $0.9 billion in the prior fiscal second quarter. The 27.0% increase in Latin American net sales was primarily driven by 32% growth in Client and Endpoint Solutions, led by notebooks and desktops, along with 9% growth in net sales of Advanced Solutions, 71% growth in Cloud-based Solutions and 57% growth in Other Services. 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 $40.5 million, compared to $25.1 million in the prior fiscal second quarter. Income from operations margin was 3.74%, compared to 2.94% in the prior fiscal second quarter. The year-over-year increase was primarily a result of a 76 basis point increase in gross margin due to higher margins on net sales across all product categories, as well as improved leverage on operating expenses. Fiscal Third Quarter 2026 Outlook The following outlook is forward-looking, based on the Company’s current expectations for the fiscal third quarter 2026, and actual results may differ materially from what is indicated. We provide EPS guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. See “Use of Non-GAAP Metrics,” below. Thirteen Weeks Ended September 26, 2026 ($ in millions, except per share data) Low High Net sales $ 13,550 $ 13,950 Gross profit $ 910 $ 955 Non-GAAP diluted EPS $ 0.72 $ 0.82 Our fiscal third quarter 2026 guidance assumes an effective tax rate of approximately 27% on a non-GAAP basis and 231.9 million diluted shares outstanding. Dividend Increase and Payment On July 30, 2026, the Company announced that its board of directors had declared a third quarter cash dividend on the Company’s common stock of $0.086 per share, representing a 2.4% increase from the quarterly dividend of $0.084 per share paid in the second quarter of 2026. The dividend is payable on August 25, 2026, to stockholders of record as of August 11, 2026. Fiscal Second Quarter 2026 Earnings Call Details: Ingram Micro’s management will host a call to discuss its results on Thursday, July 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 August 20, 2026, at 877-660-6853 or 201-612-7415, access code 13761702. 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, military conflicts, and our ability to comply with laws and regulations we are subject to, both in the United States and internationally; our financing efforts, payment of dividends and stock repurchases; 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) June 27, 2026 December 27, 2025 ASSETS Current assets: Cash and cash equivalents $ 808,973 $ 1,864,724 Trade accounts receivable (less allowances of $192,895 and $169,165, respectively) 10,677,127 10,546,550 Inventory 6,020,050 4,970,113 Other current assets 1,020,961 859,252 Total current assets 18,527,111 18,240,639 Property and equipment, net 527,970 531,896 Operating lease right-of-use assets 390,728 403,224 Goodwill 850,788 854,749 Intangible assets, net 662,825 711,809 Other assets 566,611 502,067 Total assets $ 21,526,033 $ 21,244,384 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 11,795,070 $ 11,963,324 Accrued expenses and other 1,027,246 1,163,587 Short-term debt and current maturities of long-term debt 1,236,764 449,583 Short-term operating lease liabilities 102,657 104,468 Total current liabilities 14,161,737 13,680,962 Long-term debt, less current maturities 2,558,665 2,749,781 Long-term operating lease liabilities, net of current portion 344,076 354,894 Other liabilities 181,533 210,329 Total liabilities 17,246,011 16,995,966 Stockholders’ equity: Common Stock, par value $0.01, 2,000,000,000 shares authorized at June 27, 2026 and December 27, 2025, and 235,373,307 and 235,073,327 shares issued at June 27, 2026 and December 27, 2025, respectively 2,354 2,351 Additional paid-in capital 2,942,553 2,921,952 Treasury stock, at cost, 4,713,158 and 0 shares as of June 27, 2026 and December 27, 2025, respectively (105,000 ) — Retained earnings 1,752,719 1,587,330 Accumulated other comprehensive loss (312,604 ) (263,215 ) Total stockholders’ equity 4,280,022 4,248,418 Total liabilities and stockholders’ equity $ 21,526,033 $ 21,244,384 Contacts Investor Relations: Willa McManmon ir@ingrammicro.com Media: Lisa Zwick lisa.zwick@ingrammicro.com Read full story here

Ingram Micro Reports Record Q2 2026 Results Exceeding the High End of Guidance Across All Financial Metrics with Significant Operating Leverage

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