Ingram Micro Holding Corporation · NYSE:INGM
Ingram Micro — Q3 2026 Earnings Presentation
26 slides from Ingram Micro's earnings presentation, Oct 29, 2026
Slide 1: Ingram Micro 2026 Q3 Earnings Supplement
Ingram Micro 2026 Q3 Earnings Supplement A Record Q3, Raising Q4 Guidance and FY 2026 Outlook Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 1
Slide 2: Important notice
Important notice This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You can identify forward-loo
Slide 3: Q3 2026 financial highlights
Q3 2026 financial highlights (1) Q3 2026 Y/Y Growth Net Sales ($B) $ 15.2 +20.8% Adjusted Income from Operations (2) ($M) $ 322 +24.9% Non-GAAP Diluted EPS(2) ($) $ 0.91 +26.4% Adjusted Free Cash Flow(2) ($M) $ 250 +326.9% Key Takeaways: • Exceeded the high end of guidance across all financial metri
Slide 4: Snapshot – Q3 2026
Snapshot – Q3 2026 $15.2B $997M $0.91 (2) Net Sales Gross Profit Non-GAAP Diluted EPS (1) (1) +20.8% y/y, +14.6% y/y, +26.4% y/y, above high end of guidance above high end of guidance above high end of guidance 4.62% $211M (2) $250M (2) Opex % of Net Sales Non-GAAP Net Income Adjusted Free Cash Flow
Slide 5: Snapshot – Q3 YTD 2026
Snapshot – Q3 YTD 2026 $43.7B $2.9B $2.48 (2) Net Sales (1) Gross Profit Non-GAAP Diluted EPS (1) +16.0% y/y +13.6% y/y +27.8% y/y 4.87% $577M (2) $1.1B (2) Opex % of Net Sales Non-GAAP Net Income Adjusted EBITDA (1) (1) (1) 36bps better y/y +26.8% y/y +16.2% y/y (1) Variance is on a USD basis (2) R
Slide 6: Our Investment Thesis
Our Investment Thesis: Scale + Intelligence + Execution = Sustainable Value Creation Strategy Intelligence-Driven Operating Model Long-term financial framework • 4-6% Leading technology distribution and solutions platform with a diversified Net Sales Growth portfolio spanning Cloud, Cybersecurity, A
Slide 7: Platform capabilities at scale
Platform capabilities at scale (1) + 40% + 39% ~70% time spent per visit YoY increase in Xvantage self-serve order penetration, average revenue per up more than 10pts YoY customer YoY + 33% ~$1.5B + 100% YoY growth in Email-to-Order, net revenue generated by IDA, increase in total associate and $1.6
Slide 8: Enabling AI-powered commerce
Enabling AI-powered commerce (1) Extending Xvantage ordering to Frontier AI assistants through Model Context Protocol (MCP) CUSTOMER INGRAM MICRO CALLED DIRECTLY AI assistant or agent MCP server Multiple tools, one endpoint ChatGPT, Quick, Claude, Gemini, One endpoint on the open MCP. • Product cata
Slide 9: Q3 2026 geographic & business mix performance
Q3 2026 geographic & business mix performance (1) (2) Q3 Net Sales by geography Q3 Net Sales growth by LOB Q3 Adjusted Income from Operations by geography Inner Circle: Q3 2025 Inner Circle: Q3 2025 Outer circle: Q3 2026 Outer circle: Q3 2026 +40.0% +34.7% +31.0% +9.8% Adv Sol Lifecycle Cloud CES (1
Slide 10: Q3 YTD 2026 geographic & business mix performance
Q3 YTD 2026 geographic & business mix performance (1) (2) Q3 YTD Net Sales by geography Q3 YTD Net Sales growth by LOB Q3 YTD Adjusted Income from Operations by geography Inner Circle: Q3 YTD 2025 Inner Circle: Q3 YTD 2025 Outer circle: Q3 YTD 2026 Outer circle: Q3 YTD 2026 +35.9% +27.2% +9.9% +6.4%
Slide 11: Mix drives profitability: line of business
Mix drives profitability: line of business % Net Sales Gross Margin Working Capital Days Labor Mix / Automation Client and Endpoint Low-to-Mid Low labor costs / ~ 58-62 % 24 to 28 days Solutions Single Digits high automation Mid Single Digits to Low Double Digits Higher technical labor costs Advance
Slide 12: Q3 2026 double-digit growth for all key metrics
Q3 2026 double-digit growth for all key metrics (2) (2) Net Sales ($B) Gross Profit ($M) Adjusted Income from Operations ($M) Non-GAAP Diluted EPS ($) % Y/Y Change (1) % Y/Y Change (1) % Y/Y Change % Y/Y Change +20.8% +14.6% +24.9% (1) +26.4% (1) 15.2 $0.91 997 12.6 322 $0.72 870 258 2025 Q3 2026 Q3
Slide 13: Strong balance sheet
Strong balance sheet $3.1B 2.6x 1.9x of available liquidity under Total debt / Q3 2026 TTM Net debt / Q3 2026 TTM committed receivable- Adjusted EBITDA Adjusted EBITDA backed facilities (0.2x better y/y) (0.3x better y/y) Proprietary information of Ingram Micro — Do not distribute or duplicate witho
Slide 14: Strategic deployment of sustainable cash flow
Strategic deployment of sustainable cash flow Utilizing consistent cash generation to strengthen balance sheet, fund growth, and drive shareholder returns Annual FCF Working Capital Discipline Disciplined working capital investment supporting growth while improving working capital efficiency Return
Slide 15: Long-term capital allocation priorities
Long-term capital allocation priorities BEFORE AFTER REACHING IG LEVERAGE TARGET REACHING IG LEVERAGE TARGET Disciplined capital Invest in Core Business Invest in Core Business Fund organic growth, technology and strategic Continue focus on funding organic growth, deployment initiatives with attract
Slide 16: Q4 2026 guidance
Q4 2026 guidance (1) Q4 FY26 Guidance Ranges Low High Midpoint Net Sales ($M) $ 17,500 $ 17,900 $ 17,700 YoY Growth % 17.6% 20.3% 19.0% Gross Profit ($M) $ 1,075 $ 1,115 $ 1,095 Non-GAAP Diluted EPS ($) $ 1.05 $ 1.15 $ 1.10 Key Takeaways: • 17.6%–20.3% sales growth guidance marks the strongest outlo
Slide 17: Appendix
Appendix Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 17
Slide 18: Expanding Xvantage's patented innovation
Expanding Xvantage’s patented innovation Two new patents support onboarding and bundle recommendations PREVIOUS PATENTS NEW PATENTS 1 Vendor Agnostic Data Forms (VAF) Vendor & Customer Agnostic Persona-Based Bundle 7 8 Framework (VCAF) Recommendations 2 Dynamic SKU Generation A core Xvantage capabil
Slide 19: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Adjusted Income from Operations Thirteen Thirteen Thirty-Nine Thirty-Nine Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, ($ in thousands) 2026 2025 2026 2025 Income from operations $ 293,768 $ 223,513 $ 752,653
Slide 20: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Adjusted EBITDA Thirteen Thirteen Thirty-Nine Thirty-Nine Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, ($ in thousands) 2026 2025 2026 2025 Net income $ 131,080 $ 99,457 $ 340,816 $ 206,472 Interest income (1
Slide 21: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations ROIC Thirteen Thirteen Thirty-Nine Thirty-Nine Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, ($ in thousands) 2026 2025 2026 2025 Net income $ 131,080 $ 99,457 $ 340,816 $ 206,472 Stockholders' equity 4,373,31
Slide 22: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Thirteen Thirteen Thirty-Nine Thirty-Nine Adjusted ROIC Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, ($ in thousands) 2026 2025 2026 2025 Net income $ 131,080 $ 99,457 $ 340,816 $ 206,472 Pre-tax adjustments:
Slide 23: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Thirteen Thirteen Thirty-Nine Thirty-Nine Non-GAAP Net Income Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, ($ in thousands) 2026 2025 2026 2025 Net income $ 131,080 $ 99,457 $ 340,816 $ 206,472 Pre-tax adjust
Slide 24: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Adjusted Free Cash Flow Thirteen Thirteen Thirty-Nine Thirty-Nine Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, ($ in thousands) 2026 2025 2026 2025 Net income $ 131,080 $ 99,457 $ 340,816 $ 206,472 Depreciati
Slide 25: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Basic EPS Thirteen Thirteen Thirty-Nine Thirty-Nine Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, 2026 2025 2026 2025 Basic EPS - GAAP $ 0.57 $ 0.42 $ 1.47 $ 0.88 Amortization of intangibles 0.09 0.08 0.28 0.2
Slide 26: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Diluted EPS Thirteen Thirteen Thirty-Nine Thirty-Nine Weeks Ended Weeks Ended Weeks Ended Weeks Ended September 26, September 27, September 26, September 27, 2026 2025 2026 2025 Diluted EPS - GAAP (a) $ 0.57 $ 0.42 $ 1.46 $ 0.88 Amortization of intangibles 0.09 0.08