Ingram Micro Q1 Sales Rise 13.7% to $14B; Net Income Jumps 43%
INGM•Ingram Micro reported Q1 net sales of $14.0 billion, up 13.7% year-over-year, with GAAP net income rising 42.9% to $98.9 million and non-GAAP income increasing 21.7% to $175.5 million. AI-led Xvantage platform sales grew over 60% and the company repurchased $75 million of shares, expanding its buyback program.
1. Q1 Financial Highlights
In the 13 weeks ended March 28, 2026, Ingram Micro delivered net sales of $14.0 billion, a 13.7% increase year-over-year. GAAP net income rose 42.9% to $98.9 million (EPS $0.42), non-GAAP net income climbed 21.7% to $175.5 million (EPS $0.75) and adjusted EBITDA grew 13.9% to $331.2 million.
2. Regional and Product Segment Performance
All four geographic segments reported net sales growth, led by Asia Pacific with double-digit gains. North America sales rose 12.7% to $5.0 billion, driven by Advanced Solutions and a 30% increase in Cloud-based Solutions, partially offset by the CloudBlue divestiture impact.
3. Xvantage Platform Growth
The Xvantage platform moved from adoption to performance, with AI-led net sales up more than 60% year-over-year in its largest countries. Continued deployment of platform capabilities and an expanding patent portfolio aim to differentiate Ingram Micro as a technology leader.
4. Capital Return and Share Repurchase Program
The company repurchased $75 million of stock directly from its majority owner and expanded its authorized share repurchase program for future flexibility. It also raised its quarterly dividend, underscoring a commitment to returning capital to stockholders.
