Ingram Micro Holding Corporation · Q3 2024 earnings

Briefing

Reported third quarter results with net sales of $11.8 billion, net income of $77.0 million, and non-GAAP net income of $159.2 million.

Ingram Micro reported a slight decrease in net sales compared to the prior year, but demonstrated an increase in gross margin and income from operations. The company's focus on higher-margin cloud-based solutions and optimization of operating expenses contributed to the improved profitability.

• Net sales totaled $11.8 billion, a 1.4% decrease year-over-year, impacted by lower sales in North America and Latin America, offset by growth in Asia-Pacific.
• Gross margin increased by 2 basis points year-over-year, driven by a shift in sales mix towards higher-margin cloud-based solutions and Other services net sales.
• Income from operations increased to $218.2 million, up from $212.4 million in the prior year.
• Non-GAAP diluted EPS increased to $0.72, compared to $0.67 in the prior fiscal third quarter.

Headline financials

Revenue & EPS history

The company provided an outlook for fiscal fourth quarter 2024, anticipating net sales between $13.0 billion and $13.5 billion, gross profit between $935 million and $985 million, and non-GAAP diluted EPS between $0.85 and $0.98.