The ransomware attack that left Ingram unable to transact for a “handful of days” in early July may have dented its quarterly sales by as little as 1%.
That was the verdict of the broadliner as it unveiled Q3 results that either exceeded or hit the top end of each of its guidance ranges.
Ingram’s Q3 revenues topped the high end of its guidance by jumping 7.2% year on year to $12.6bn, while non-GAAP diluted earnings per share of $0.72 were at the high end of its guidance.
The NYSE-listed distributor took only a “small impact” from the cyber attack that dominated headlines in early July, CEO Paul Bay claimed.
“At that time [of Ingram’s last earnings call in August], we estimated a potential 1% to 2% top-line impact and a 2% to 4% impact on EPS,” CFO Mike Zilis said on the earnings call, a transcript of which can be found here.
“With the incident now more than three months behind us, we estimate the overall impact landed within a tighter range of 1% to 1.5% of net sales and $0.02 to $0.03 per share.
“Most importantly, we couldn’t be prouder of how our team and our partners around the globe responded to minimise the impact and return to business so quickly.”
“Gaining share”
Ranked third in Oxygen’s Must-Know UK Distributors and Marketplaces 2025, Ingram is gaining market share across most regions it serves and is “encouraged by the growing momentum of our Xvantage digital platform as we deploy it globally”, Bay added.
On the same day, peer Arrow ECS unveiled a 15% rise in Q3 sales, although it also took $21m of charges during the period due to “multi-year contracts that have underperformed”. Arch-rival TD Synnex’s top line grew by 12% in its latest quarter, meanwhile.
Bay branded Q3 a “strong” quarter, adding that Ingram enters Q4 “with confidence”.
In EMEA, net sales rose 5.5% to $3.7bn in dollar terms, an increase that drops to 0.5% when stripping out foreign currency impacts. Growth in client and endpoint solutions in the region was partially offset by a decline in advanced solutions, Ingram said.
Ingram expects Q4 net sales to come in at between $14bn and $14.35bn (which would represent year-on-year growth of between 4.9% and 7.5% year).
