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Sep 28, 2024
Ingram Micro Holding Corporation Q3 2024 Earnings Report
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.
Key Takeaways
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.
Revenue by Geographic Location
Forward Guidance
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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