Ingram Micro reported record third-quarter results with net sales of $15.2 billion and non-GAAP diluted EPS of $0.91, both significantly exceeding analyst estimates. Performance was fueled by double-digit growth across all geographic regions and primary business lines, particularly in high-demand technology sectors.
Key Highlights
- Advanced Solutions revenue surged 40% globally, led by robust demand for GPU and AI infrastructure and networking servers.
- Operating income increased 31.4% year-over-year to $293.8 million, reflecting improved operating leverage and productivity despite a lower gross margin mix.
- The company generated $250 million in adjusted free cash flow, marking its highest third-quarter cash flow performance in over five years.
- Gross margin compressed to 6.55% from 6.90% in the prior year, primarily due to a higher mix of lower-margin AI and GPU hardware deals.