Nucor earnings beat by $0.08, revenue fell short of estimates
NEW YORK - Ingram Micro Holding Corporation (NYSE:INGM) shares are up 3.4% in after-hours trading Tuesday after reporting Q4 results.
The technology distributor posted adjusted earnings per share of $0.92, while revenue came in at $13.3 billion, up 2.5% YoY.
"We are pleased with our Q4 performance where we saw a return to year-over-year revenue growth, driven by strong performance in Cloud and in Client and Endpoint Solutions," said CEO Paul Bay.
For the first quarter, Ingram Micro forecasts revenue between $11.425 billion and $11.825 billion, compared to analyst estimates of $11.64 billion. The company expects Q1 adjusted EPS of $0.51 to $0.61, below the $0.69 consensus.
Gross margin declined to 7.01% from 7.52% a year ago, which the company attributed to a shift in sales mix towards lower-margin products and regions.
Ingram Micro generated $337.2 million in adjusted free cash flow during Q4, up significantly from $13.4 million in the year-ago quarter.
The company’s board approved a new $75 million share repurchase program and declared a quarterly dividend of $0.074 per share.
"Our commitment to disciplined spend and quality of revenue will remain key to our strategy in 2025," said CFO Mike Zilis.
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