Ingram Micro (NYSE:INGM) Issues Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Beat expectations: Ingram Micro reported Q1 non‑GAAP EPS of $0.75 (vs. $0.70 est.) and revenue of $13.96 billion, up 13.7% YoY, and provided Q2 EPS guidance of $0.68–$0.78.
• AI-driven growth but margin pressure: Xvantage/AI initiatives helped generate >$800M in AI‑led net sales and growing automation benefits, but large GPU/AI deals are low margin and trimmed gross margin by ~35 basis points.
• Capital returns & mixed market reaction: The company raised its quarterly dividend, repurchased $75M from the majority owner and expanded a ~$100M buyback, yet shares dropped about 9% after the report and an investor litigation notice emerged.

Ingram Micro (NYSE:INGM - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05, FiscalAI reports. The firm had revenue of $13.96 billion during the quarter, compared to the consensus estimate of $12.76 billion. Ingram Micro had a return on equity of 16.78% and a net margin of 0.62%.The business's revenue for the quarter was up 13.7% on a year-over-year basis. Ingram Micro updated its Q2 2026 guidance to 0.680-0.780 EPS.

Here are the key takeaways from Ingram Micro's conference call:

• Strong Q1 results — Net sales were $13.96 billion (up 13.7% YoY), gross profit rose ~12%, and non‑GAAP EPS was $0.75 (up 23%), with results at or above the high end of guidance.
• Xvantage and AI traction — The company highlighted 400+ AI/ML models, IDA-driven opportunities that converted at ~4x baseline and helped generate >$800M in AI‑led net sales, plus multiple granted patents and growing automation benefits.
• Growth mix and margin impact — Cloud and Advanced Solutions (including large GPU/AI infrastructure deals) drove top‑line growth, but those AI/GPU projects are low margin and reduced gross margin by roughly 35 basis points in Q1.
• Stronger balance sheet and shareholder returns — Net debt/EBITDA improved to ~1.7x, the company repurchased $75M of stock from the majority owner, expanded its buyback program, and raised the quarterly dividend.
• Q2 outlook and near‑term headwinds — Q2 guidance calls for $13.6B–$14.0B in net sales (≈+8% midpoint) and $0.68–$0.78 EPS, while memory supply constraints and Middle East volatility are expected to create ongoing near‑term uncertainty.

Ingram Micro Stock Down 9.0%

Shares of NYSE INGM traded down $2.77 during trading on Friday, reaching $28.01. 3,171,875 shares of the stock were exchanged, compared to its average volume of 1,005,341. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.03 and a beta of 1.39. The business's 50-day moving average price is $24.91 and its 200 day moving average price is $22.71. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.65. Ingram Micro has a twelve month low of $18.05 and a twelve month high of $31.38.

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th will be given a $0.084 dividend. This represents a $0.34 annualized dividend and a yield of 1.2%. This is a positive change from Ingram Micro's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, May 12th. Ingram Micro's dividend payout ratio is 23.19%.

Ingram Micro News Summary

Here are the key news stories impacting Ingram Micro this week:

• Positive Sentiment: Q1 results beat consensus — Non‑GAAP EPS $0.75 (vs. $0.70 est.) and net sales $14.0B, up 13.7% YoY, with double‑digit net income growth. Strong revenue and earnings upside are supportive of the stock’s fundamental outlook. Business Wire: Q1 Results
• Positive Sentiment: Capital return boost — Company raised its quarterly dividend to $0.084 and expanded the buyback program, which supports shareholder returns and reduces share count over time. TipRanks: Dividend & Buyback
• Positive Sentiment: Revenue guidance above Street — Fiscal Q2 revenue guidance was raised to $13.6B–$14.0B, which is above consensus and indicates continued demand recovery in distribution channels. Business Wire: Guidance
• Neutral Sentiment: EPS guidance range is mixed — Q2 EPS guidance of $0.680–$0.780 overlaps the $0.720 consensus but is a wide range, leaving ambiguity on margin trajectory and near‑term profitability. Investors will look to management commentary for drivers. Yahoo: Earnings Call Highlights
• Neutral Sentiment: Earnings call/transcript available — Management commentary in the call and transcript will be important to parse mix, margin outlook, and working capital dynamics; read the transcript for color on demand and supply trends. Seeking Alpha: Call Transcript
• Negative Sentiment: Shares dropped sharply on the print — Despite the beat, the stock fell as some investors sold into the strength, likely reacting to the EPS guidance range, profit‑taking after a strong run, and short‑term uncertainty. Yahoo: Stock Drop
• Negative Sentiment: Investor litigation notice — Pomerantz LLP announced an investigation into Ingram Micro on behalf of investors, introducing legal risk and potential distraction that can weigh on investor sentiment. PR Newswire: Pomerantz Investigation

Analyst Ratings Changes

INGM has been the subject of a number of research reports. Truist Financial assumed coverage on Ingram Micro in a report on Tuesday, March 31st. They set a "hold" rating and a $25.00 target price for the company. Zacks Research raised shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Ingram Micro from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Raymond James Financial reissued an "outperform" rating and issued a $34.00 target price on shares of Ingram Micro in a research note on Friday. Finally, Weiss Ratings raised shares of Ingram Micro from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ingram Micro currently has an average rating of "Hold" and a consensus price target of $27.86.

Ingram Micro announced that its board has initiated a share repurchase plan on Monday, March 2nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Ingram Micro

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Ingram Micro by 27.5% in the 4th quarter. Victory Capital Management Inc. now owns 3,126,480 shares of the company's stock valued at $66,719,000 after buying an additional 673,840 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Ingram Micro by 26.4% in the fourth quarter. Wellington Management Group LLP now owns 2,663,257 shares of the company's stock worth $56,834,000 after acquiring an additional 556,931 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Ingram Micro by 28.5% in the third quarter. Ameriprise Financial Inc. now owns 1,323,583 shares of the company's stock worth $28,444,000 after acquiring an additional 293,562 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ingram Micro by 157.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 789,266 shares of the company's stock valued at $16,843,000 after purchasing an additional 482,723 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Ingram Micro by 3.1% during the 4th quarter. Millennium Management LLC now owns 556,737 shares of the company's stock valued at $11,881,000 after purchasing an additional 17,000 shares in the last quarter.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro's end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company's offerings are organized across several core areas.

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