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Ingram Micro (INGM) investor relations material
Ingram Micro Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 net sales reached $14.9B, up 11.5% year-over-year, exceeding guidance, with all regions contributing to growth and double-digit gains in Asia Pacific and AI infrastructure products.
Full-year 2025 net sales were $52.6B, up 9.5% year-over-year, with strong growth in Asia Pacific and robust performance across all product categories.
Adjusted free cash flow reached $1.63B in Q4, the highest in over a decade, and $1.1B for the year, reflecting significant operational efficiency.
The Xvantage platform and AI initiatives enhanced productivity, sales, and customer engagement, with most net sales now flowing through the platform.
Innovation and digital transformation, including new AI-powered tools and patents, supported ongoing business model pivots.
Financial highlights
Q4 net sales were $14.88B–$14.9B, up 11.5% year-over-year; gross profit was $966.4M (6.5% margin), up 3.2% year-over-year.
Q4 non-GAAP net income was $226.7M–$227M, non-GAAP diluted EPS was $0.96, up 4.3%–6.4% year-over-year.
Full-year non-GAAP net income was $681.9M–$682M, non-GAAP diluted EPS was $2.90, both up 8.6% year-over-year.
Adjusted EBITDA for FY25 was $1.36B, up from $1.32B in FY24.
Q4 operating expenses were $656.7M (4.41% of net sales), a 74 bps improvement year-over-year.
Outlook and guidance
Q1 FY26 net sales guidance: $12.45B–$12.8B, representing 1.4%–4.2% year-over-year growth at midpoint.
Q1 gross profit expected at $840M–$895M, with gross margin improvement to 6.87% at midpoint.
Q1 non-GAAP diluted EPS guidance: $0.67–$0.75, up 10%–23% year-over-year.
Dividend of $0.082 per share declared, payable March 24, 2026.
Free cash flow expected to be seasonally lower in Q1 due to low year-end working capital.
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