Ingram Micro (INGM) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 results with net sales of $14.5B, gross profit of $958.7M, and non-GAAP diluted EPS of $0.82, all exceeding guidance and reflecting strong operating leverage and scalability.

• Growth was broad-based across all geographies, customer categories, and primary business lines, with double-digit revenue increases and notable gains in Cloud-based and Advanced Solutions.

• Xvantage digital platform, AI initiatives, and proprietary technology platforms drove operational efficiency, higher engagement, and improved profitability.

• Strategic partnerships, sustainability progress, and technology innovation further strengthened market position.

• Quarterly dividend increased to $0.086 per share, up 2.4% sequentially and 10.3% year-over-year.

Financial highlights

• Net sales rose 13.6% year-over-year to $14.53B for the quarter and $28.5B for the half; gross profit was $958.7M for the quarter and $1.9B for the half.

• Gross margin was 6.60%, up 4 bps year-over-year; adjusted operating income increased 40% to $280M; adjusted EBITDA was $355.8M, up 21%.

• Non-GAAP diluted EPS was $0.82, up 34.4% year-over-year; net income was $191M non-GAAP and $110.9M GAAP.

• Adjusted ROIC improved to 10.8% from 8.4% year-over-year.

• Cash used in operations was $533.2M, primarily due to higher inventory investment.

Outlook and guidance

• Q3 2026 net sales guidance: $13.55B–$13.95B, representing 7.5%–11% year-over-year growth.

• Q3 2026 non-GAAP diluted EPS guidance: $0.72–$0.82; gross profit expected at $910M–$955M, with gross margins around 6.8%.

• Continued investment in inventory to support growth, with expectations for positive cash flow in Q4.

• Assumes a 27% effective tax rate and 231.9 million diluted shares outstanding.

• Sales growth outlook for Q3 is the strongest since IPO, with focus on operating leverage and earnings momentum.