Financial Performance - Net sales for the thirteen weeks ended June 28, 2025, were $12,793,956, an increase of 10.9% compared to $11,541,439 for the same period in 2024[16] - Gross profit for the twenty-six weeks ended June 28, 2025, was $1,667,921, slightly up from $1,663,368 in the prior year, indicating stable profitability[16] - Net income for the thirteen weeks ended June 28, 2025, was $37,826, a decrease of 30.6% from $54,585 in the same period last year[16] - Basic earnings per share for the thirteen weeks ended June 28, 2025, were $0.16, down from $0.25 in the prior year[16] - Total income from operations for the thirteen weeks ended June 28, 2025, was $157,314, down from $200,907 in the same period of 2024[95] - Net income attributable to common stockholders for the thirteen weeks ended June 28, 2025, was $37,826,000, compared to $54,585,000 for the same period in 2024, representing a decrease of 30.6%[99] Assets and Liabilities - Total current assets increased to $16,461,959 as of June 28, 2025, compared to $15,801,177 at December 28, 2024, reflecting improved liquidity[14] - Total liabilities rose to $15,405,588 as of June 28, 2025, from $15,045,815 at December 28, 2024, indicating increased financial obligations[14] - The company’s total stockholders' equity increased to $4,047,646 as of June 28, 2025, from $3,733,875 at December 28, 2024, reflecting growth in shareholder value[14] - Total trade accounts receivable sold to financial institutions under factoring programs were $703,466 as of June 28, 2025, down from $737,302 as of December 28, 2024[40] - The total stockholders' equity as of June 29, 2024, was $3,463,705,000, a slight decrease from $3,471,771,000 at the end of the previous quarter[23] Cash Flow and Dividends - Cash used in operating activities for the twenty-six weeks ended June 29, 2024, was $(498,390,000), a significant decline compared to cash provided of $300,918,000 in the previous year[26] - Total cash and cash equivalents at the end of the period decreased to $856,668,000 from $928,762,000 year-over-year[26] - The company declared dividends of $6,599,000 during the thirteen weeks ended June 29, 2024, maintaining a consistent dividend policy[23] - Cash dividends paid to stockholders for the Thirteen Weeks Ended June 28, 2025, were $17,848, an increase from $17,377 for the Thirteen Weeks Ended March 29, 2025[43] - A cash dividend of $0.078 per share was declared on August 6, 2025, payable on September 2, 2025, to stockholders of record as of August 19, 2025[101] Operating Expenses - Operating expenses for the twenty-six weeks ended June 28, 2025, were $1,324,241, up from $1,312,119 in the previous year, indicating rising operational costs[16] - The total segment expenses for the twenty-six weeks ended June 28, 2025, were $24,706,552, compared to $22,491,540 for the same period in 2024, reflecting an increase of 9.8%[94] - Corporate expenses, including cash-based and stock-based compensation, totaled $15,883 for the thirteen weeks ended June 28, 2025, compared to $19,779 in the prior year[95] Foreign Exchange and Taxation - The company reported a foreign currency translation adjustment of $164,235 for the thirteen weeks ended June 28, 2025, compared to a loss of $55,881 in the same period last year[19] - The company reported a net foreign exchange loss of $10,272 for the thirteen weeks ended June 28, 2025, compared to a loss of $2,500 for the same period in the previous year[62] - The effective tax rate for the Thirteen Weeks Ended June 28, 2025, was 36.8%, compared to 34.4% for the same period in 2024[74] - The tax provision for the Twenty-Six Weeks Ended June 28, 2025, included $7,819 of tax expense related to withholding tax from Latin America operations, impacting the effective tax rate by 4.9 percentage points[76] - Gross unrecognized tax benefits increased to $16,562,000 at June 28, 2025, from $15,666,000 at December 28, 2024[78] Market Segments - North America segment net sales were $4,982,224, up 13.7% from $4,380,304 in the prior year[93] - EMEA segment net sales increased to $3,479,414, a rise of 4.8% from $3,319,858 year-over-year[93] - Asia-Pacific segment net sales grew by 16.2% to $3,478,838 from $2,994,960 in the previous year[93] - Latin America segment net sales remained relatively stable at $853,480, compared to $846,317 in the prior year[93] Restructuring and Future Plans - The company initiated a global restructuring plan in 2023, resulting in charges totaling $18,290 for organizational and staffing changes, with expectations of no material charges in subsequent quarters[71] - The remaining restructuring liability of $3,702,000 is expected to be substantially paid by the end of 2025[73] - The company plans to continue expanding its market presence and integrating new technologies into its platform, as indicated in the risk factors section[12] Debt and Financial Obligations - The total debt increased to $3,730,346 as of June 28, 2025, compared to $3,353,140 as of December 28, 2024, reflecting a significant rise in financial obligations[69] - As of June 28, 2025, book overdrafts amounted to $360,002, compared to $544,029 as of December 28, 2024[37] - Outstanding payment obligations under supplier finance programs included in accounts payable were $2,298,399, down from $2,392,755 as of December 28, 2024[44] Miscellaneous - The company recognized a write-down loss of $43,237 during the Thirteen and Twenty-Six Weeks Ended June 28, 2025, related to assets classified as held for sale[49] - The company accrued $8,018 for self-insured medical claims as of June 28, 2025, compared to $6,922 as of December 28, 2024[42] - The company entered into interest rate cap agreements establishing a 5.317% upper limit on the Secured Overnight Financing Rate applicable to a substantial portion of borrowings through the first quarter of 2025[60]
Ingram Micro Holding Corporation(INGM) - 2025 Q2 - Quarterly Report