Ingram Micro Q1 sales rise 13.7%, beat estimates

Overview

• Technology distributor's fiscal Q1 net sales rose 13.7%, beating analyst expectations

• Adjusted EPS for fiscal Q1 beat consensus, rising to $0.75

• Company raised quarterly dividend and expanded share repurchase program

Outlook

• Ingram Micro expects Q2 2026 net sales of $13.6 bln to $14.0 bln

• Company sees Q2 2026 non-GAAP diluted EPS of $0.68 to $0.78

• Company says it is managing for operating leverage, profitability and return on investment in Q2

Result Drivers

• SALES GROWTH ACROSS REGIONS - Co said all four regions grew net sales, with double-digit growth in three regions, led by Asia Pacific

• AI-INFRASTRUCTURE AND CLOUD - Growth in Advanced Solutions, especially lower-margin AI-infrastructure products, and Cloud-based Solutions drove sales, though product mix weighed on gross margin

• OPERATING EFFICIENCY - Improved operating expense leverage and lower SG&A as a percentage of sales offset margin pressures, aided by restructuring and Xvantage platform efficiencies

Company press release: ID:nBwbDFgdPa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the it services & consulting peer group is "buy"

• Wall Street's median 12-month price target for Ingram Micro Holding Corp is $28.00, about 7.6% below its April 29 closing price of $30.30

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 7 three months ago

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