Ingram Micro Q3 2026 earnings: record quarter tops estimates and guidance
Ingram Micro's fiscal Q3 2026 sales and adjusted profit topped both Wall Street estimates and the company's own guidance, fueled by strong AI and cloud infrastructure demand.
| Q3 2026 | Reported | Expected | Surprise |
|---|---|---|---|
| EPS | $0.91 | $0.79 | +14.7% |
| Revenue | $15.22B | $14.11B | +7.9% |
Key takeaways
- Net sales of $15.22 billion beat both Wall Street’s estimate (about $14.11 billion) and the high end of management’s own guidance range ($13.55–$13.95 billion); adjusted profit of $0.91 per share also cleared the analyst estimate (about $0.79) and the top of guidance ($0.72–$0.82).
- Growth was broad-based across all four regions the company operates in, with the biggest boost coming from hardware tied to AI data centers (GPU and AI infrastructure gear) and from cloud-related technology services, as businesses keep building out AI computing capacity.
- Ingram Micro is a distributor — it buys tech hardware and software from manufacturers and resells it to businesses — so its margins are thin by design (gross margin around 6.65% and operating margin around 1.77% over the trailing year); it earns money on high sales volume rather than high markups.
- Even with those thin margins, profit grew much faster than sales over the trailing year (earnings per share up about 61% versus revenue up about 11.5%), pointing to better cost efficiency and operating leverage rather than pricing power.
- The company generated $251 million in cash from operations and $250 million in adjusted free cash flow during the quarter, cash that supports its dividend and ongoing investment in its business even on slim profit margins.
- Ingram Micro raised its quarterly dividend to $0.088 per share, a signal of management’s confidence in the business’s cash generation.
- CEO Paul Bay called it a record third quarter and linked the performance to the strategy laid out at the company’s September Capital Markets Day, pointing to continued scaling of its Xvantage digital platform; CFO Mike Zilis highlighted particular strength in GPU/AI infrastructure and cloud-based offerings.
- For the current (fiscal fourth) quarter, management guided for net sales of $17.5 billion to $17.9 billion and adjusted earnings per share of $1.05 to $1.15.
How the stock took it
Ingram Micro Holding Corporation closed at $28.40 on Oct 28, 2026, the last session before the report, and at $28.40 on Oct 30, 2026, the first session after it — 0.0% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Fundamentals
| Metric | Value | Period |
|---|---|---|
| Gross margin | 6.7% | Trailing 12 months |
| Operating margin | 1.8% | Trailing 12 months |
| Net profit margin | 0.8% | Trailing 12 months |
| Pretax margin | 1.2% | Trailing 12 months |
| EPS | $1.84 | Trailing 12 months |
| Revenue growth (YoY) | 11.5% | Trailing 12 months |
| EPS growth (YoY) | 61.4% | Trailing 12 months |
| Return on equity | 10.2% | Trailing 12 months |
Sources: company report