Ingram Micro (INGM) Q3 2026 earnings summary

Executive summary

• Record Q3 results exceeded the high end of guidance across financial metrics, with growth across all four regions and primary lines of business.

• Strong sales growth drove faster profit growth, supported by operating expense leverage and cash generation.

• FY2026 guidance was raised; the 2026–2029 financial framework was reaffirmed.

Financial highlights

• Q3 net sales were $15,220,461 thousand, up 20.8% YoY; gross profit was $996.926M, up 14.6%.

• GAAP operating income rose 31.4% to $293.8M and net income rose 31.8% to $131.1M; GAAP diluted EPS was $0.57 vs. $0.42.

• Adjusted operating income increased 24.9% to $322.0M; non-GAAP net income rose 24.8% to $210.6M and diluted EPS rose 26.4% to $0.91.

• Adjusted free cash flow was $249.5M vs. $109.9M used; cash from operations was $251.4M vs. $146.0M used.

Outlook and guidance

• Q4 net sales guidance is $17.5B–$17.9B, representing 17.6%–20.3% YoY growth; Q4 has 14 weeks vs. 13 in the prior-year quarter.

• Q4 gross profit guidance is $1.075B–$1.115B and non-GAAP diluted EPS guidance is $1.05–$1.15; assumptions include a ~27% non-GAAP tax rate and 231.7M diluted shares.

• Q4 guidance assumes a 2%–3% net positive supply-constraint impact and a $0.01–$0.02 EPS headwind from Middle East conflict.

• FY2026–FY2029 targets include net sales CAGR of 4%–6%, gross profit CAGR of 5%–7% and non-GAAP net income CAGR of 11%–13%.

• Framework targets annual opex of 4.4%–4.8% of sales, adjusted free cash flow/adjusted EBITDA of ~30% or more and four-year average adjusted ROIC of 16%–17%.