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# Ingram Micro Sales Jump 20.8% To $15.2 Billion As GPU Demand Lifts Cash Flow
- URL: https://www.bullished.co/ingram-micro-sales-jump-20-8-to-15-2-billion-as-gpu-demand-lifts-cash-flow-c09ded63/
- Published: 2026-10-29T22:12:38.000Z
- Updated: 2026-10-29T22:12:38.000Z
- Description: The IT distributor forecast fourth-quarter sales of $17.5 billion to $17.9 billion and raised its quarterly dividend to $0.088 a share.
- Author: Matteo Parrino
- Tags: Earnings, INGM, Industry: Technology

Ingram Micro, which distributes technology products and cloud services to resellers, reported third-quarter [net sales of $15.2 billion](https://www.sec.gov/Archives/edgar/data/0001897762/000162828026068232/earningsreleaseq326.htm?ref=bullished.co), up 20.8% from a year earlier, and said results exceeded the high end of its own guidance on every financial metric. Operating cash flow swung to $251.4 million from $146.0 million used a year ago.

## AI hardware drives growth, squeezes margin

Net income under standard accounting rose to [$131.1 million](https://www.businesswire.com/news/home/20261029189773/en/Ingram-Micro-Reports-Record-Q3-2026-Results-with-Solid-Double-Digit-Growth-in-Net-Sales-and-Net-Income-and-Strong-Cash-Flow-Generation-Raised-Full-Year-Guidance-from-September-Capital-Markets-Day?ref=bullished.co), or $0.57 a diluted share, from $0.42 a year earlier. Adjusted earnings reached $0.91 a share, up 26.4%. Operating income climbed to $293.8 million from $223.5 million.

Advanced Solutions, a category covering servers, storage and networking, rose 40% worldwide, with GPU and AI infrastructure cited as a driver. Cloud-based Solutions rose 31% and Client and Endpoint Solutions rose 10%.

Gross margin slipped to 6.55% from 6.90%. The company blamed growth in lower-margin GPU and AI-infrastructure products; excluding those large deals, margin was 7.06%, against 7.10% a year earlier.

CEO Paul Bay called it a "record third-quarter performance" and said the company delivered growth across all four regions.

## North America leads the regions

North American sales reached $5.8 billion, up 31.5%, powered by a 61% jump in Advanced Solutions as networking, server and GPU sales grew. EMEA sales rose 7.3% to $3.9 billion, Asia-Pacific rose 22.3% to $4.3 billion, and Latin America rose 16.7% to $1.1 billion.

Ingram Micro buys from vendors including Apple, HP Inc. and Lenovo and sells to more than 165,000 resellers in 57 countries, according to its latest annual report.

## Cash, dividend and fourth-quarter outlook

The company said the [$251 million](https://www.businesswire.com/news/home/20261029189773/en/Ingram-Micro-Reports-Record-Q3-2026-Results-with-Solid-Double-Digit-Growth-in-Net-Sales-and-Net-Income-and-Strong-Cash-Flow-Generation-Raised-Full-Year-Guidance-from-September-Capital-Markets-Day?ref=bullished.co) of operating cash flow produced its highest third-quarter cash flow in more than five years, with adjusted free cash flow of $249.5 million against a $109.9 million use a year earlier. Chief Financial Officer Mike Zilis credited disciplined working capital management.

The board raised the quarterly dividend to $0.088 a share from $0.086, payable November 23 to holders of record November 9.

For the fourteen-week fourth quarter, ending January 2, 2027, Ingram Micro guided to net sales of $17.5 billion to $17.9 billion and adjusted earnings of $1.05 to $1.15 a share, versus $0.96 a year earlier. The company also reaffirmed its multi-year targets from its September Capital Markets Day.

Management hosts its earnings call at 5:00 p.m. Eastern Thursday.

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### Sources

- [8-K Filing — Ingram Micro Holding Corp (INGM)](https://www.sec.gov/Archives/edgar/data/0001897762/000162828026068232/ingm-20261029.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit earningsreleaseq326.htm — Ingram Micro Holding Corp 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001897762/000162828026068232/earningsreleaseq326.htm?ref=bullished.co) — SEC EDGAR
- [Ingram Micro Reports Record Q3 2026 Results, with Solid Double-Digit Growth in Net Sales and Net Income and Strong Cash Flow Generation; Raised Full Year Guidance from September Capital Markets Day](https://www.businesswire.com/news/home/20261029189773/en/Ingram-Micro-Reports-Record-Q3-2026-Results-with-Solid-Double-Digit-Growth-in-Net-Sales-and-Net-Income-and-Strong-Cash-Flow-Generation-Raised-Full-Year-Guidance-from-September-Capital-Markets-Day?ref=bullished.co) — businesswire.com