Ingram Micro Earnings: Here’s Why Shares are Up Now
Ingram Micro Inc. (NYSE:IM) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.06%.
Ingram Micro Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 4.65% to $0.41 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Rose 18.84% to $10.26 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ingram Micro Inc. reported adjusted EPS income of $0.41 per share. By that measure, the company missed the mean analyst estimate of $0.43. It beat the average revenue estimate of $10.1 billion.
Quoting Management: “I am pleased with the progress we are making on driving cost synergies and business integration in our recent acquisitions,” said Alain Monie, president and chief executive officer, Ingram Micro Inc. “More importantly, the addition of these companies has expanded our capabilities in highly strategic markets and new geographies and is expected to provide a strong foundation for future profitable growth. I am also encouraged by our progress in Australia and our ability to drive solid overall revenue growth; however, I am not satisfied with our bottom line results.”
Key Stats (on next page)…