IT distribution giant Ingram Micro (NYSE: INGM) will be reporting results this Thursday after the bell. Here’s what to expect.
Ingram Micro beat analysts’ revenue expectations by 6.4% last quarter, reporting revenues of $12.79 billion, up 10.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and revenue guidance for next quarter slightly missing analysts’ expectations.
Is Ingram Micro a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Ingram Micro’s revenue to grow 4.1% year on year to $12.24 billion, a reversal from the 1.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.68 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ingram Micro has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time since going public by 4.5% on average.
Looking at Ingram Micro’s peers in the tech hardware & electronics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. TD SYNNEX delivered year-on-year revenue growth of 6.6%, beating analysts’ expectations by 3.5%, and Amphenol reported revenues up 53.4%, topping estimates by 10.9%. TD SYNNEX traded up 9.5% following the results while Amphenol was also up 8.8%.
Read our full analysis of TD SYNNEX’s results here and Amphenol’s results here.
Investors in the tech hardware & electronics segment have had steady hands going into earnings, with share prices flat over the last month. Ingram Micro is up 5.2% during the same time and is heading into earnings with an average analyst price target of $24.50 (compared to the current share price of $22.09).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
