Q1 2026 Ingram Micro Holding Corp Earnings Call Transcript
Key Points
- Ingram Micro Holding Corp (INGM) reported a strong first quarter with net revenue growth of nearly 14% and non-GAAP earnings per share of $0.75, exceeding guidance.
- The company's Advanced Solutions and Cloud segments led growth, driven by large GPU and AI infrastructure deals in North America and Asia Pacific.
- Asia Pacific region experienced double-digit growth, becoming the second largest region by net revenue, with India showing significant progress.
- The Xvantage platform is enhancing operational efficiency, driving stronger engagement, and supporting better financial outcomes with more than 2 million self-service orders in the quarter.
- Ingram Micro Holding Corp (INGM) achieved a specialization for AI with Microsoft, enhancing its capabilities in designing and developing AI solutions.
- The company faces headwinds from projects being deferred or altered due to price sensitivity and supply constraints, particularly affecting smaller customers and Advanced Solutions.
- Gross margin was impacted by a mix shift towards lower-margin GPU and AI infrastructure projects, resulting in a 12 basis point decline year over year.
- Memory supply constraints are causing extended lead times and backlog, with some projects being indefinitely deferred due to product unavailability.
- Despite strong revenue growth, EBIT growth was in line with revenue, indicating limited operating leverage.
- The geopolitical situation in the Middle East poses potential risks, with a possible negative impact on earnings per share in the next quarter.
Greetings, and welcome to the Ingram Micro first-quarter 2026 earnings results conference call. (Operator Instructions) As a reminder this conference is being recorded.
I will now turn the call over to Willa McManmon, Vice President of Investor Relations for opening remarks. Please go ahead.
Good afternoon. Before we begin, I would like to remind you that today's presentation may include forward-looking statements within the meaning of applicable securities laws.
These statements reflect our current views and expectations regarding future events, including, but not limited to, financial performance, strategic initiatives, market conditions and regulatory developments. Forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Actual results may differ materially from those expressed or implied in these statements due to a variety of factors, including changes in economic conditions, interest rates, competitive pressures and
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