Ingram Micro Holding Corporation (INGM) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

a return, as well as our expectations for future fiscal periods. Actual results may differ materially from those mentioned in these forward-looking statements because of risks and uncertainties discussed in today's earnings release and in our filings with the SEC. We do not intend to update any forward-looking statements. During this call, we will reference certain non-GAAP financial information. Reconciliations of non-GAAP results to GAAP results are included in our earnings press release and the related form 8K available on the SEC website or on our investor relations website. With that, I'll turn the call over to Paul. Thank you, Willa. Good afternoon and thank you for joining the call today. We are very pleased with our first quarter performance. Net revenue of $12.3 billion was up 11% year over year on an FX neutral basis. and 4% above the high end of the guidance we provided on our Q4 call. Gross profit of 829 million came in more than 2% above the midpoint of our guidance and non-GAAP EPS of 61 cents was at the high end of our guidance. North America and Asia Pacific both saw double digit net sales growth. AMEA grew 3% and Latin America was essentially flat year over year on an FX neutral basis. As expected, the top-line growth was driven by strength in the client and endpoint solutions, but we also saw solid growth in our advanced solutions and cloud businesses. While the second quarter and back half of 2025 are harder to forecast, given the volatility resulting from the macroeconomic and trade environments, which Mike will discuss, we are optimistic about the future. We believe that Ingram Micro's four and a half decades of experience and global reach in tandem with our investments in our cloud and XVantage platform capabilities, position us to manage this c...