Ingram Micro gains on 2015 guidance hike, 2016 targets

|About: Ingram Micro Inc. (IM)|By:, SA News Editor

Ingram Micro (IM +2.2%) now expects 2015 revenue growth to exceed a prior forecast for a 4%-6% CAGR. The consensus is for 4% 2015 growth. EPS is expected to be towards the high end of a $2.60-$3.10 range vs. a $2.99 consensus, and gross margin is expected to top prior guidance of 5.4%-5.6%.

The IT hardware distributor also forecasts a 4%-6% revenue CAGR through 2016, and 2016 EPS of $3.40-$3.70. Operating cash flow is expected to total $1B-$1.2B from 2014-2016.

The guidance was provided today during Ingram's 2014 investor day.