IT distribution giant Ingram Micro (NYSE: INGM) will be reporting earnings this Thursday after market close. Here’s what investors should know.
Ingram Micro beat analysts’ revenue expectations last quarter, reporting revenues of $14.53 billion, up 13.6% year on year. It was a stunning quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is Ingram Micro a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ingram Micro’s revenue to grow 10.1% year on year, improving from the 7.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ingram Micro has a history of exceeding Wall Street’s expectations.
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 37.7%, beating analysts’ expectations by 13.5%, and Knowles reported revenues up 20.3%, topping estimates by 6.9%. TD SYNNEX traded down 8.6% following the results while Knowles was also down 3.6%.
Read our full analysis of TD SYNNEX’s results here and Knowles’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 3.7% on average over the last month. Ingram Micro is up 6.9% during the same time and is heading into earnings with an average analyst price target of $32.62 (compared to the current share price of $28.28).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
