Fiscal fourth quarter 2025 net sales reached $14.9 billion, an 11.5% increase from the prior year (9.1% on an FX neutral basis), surpassing the high end of guidance. Fourth quarter diluted earnings per share were $0.51 (GAAP) and $0.96 (non-GAAP), both above the high end of guidance. Cash provided by operations for Q4 2025 was $1.56 billion, with adjusted free cash flow at $1.63 billion, marking the highest quarterly level in over a decade. Fiscal year 2025 net sales totaled $52.6 billion, representing a 9.5% increase (9.0% FX neutral) over 2024, with growth across all four geographic segments. Fiscal year 2025 GAAP net income increased by 24.1% and non-GAAP net income increased by 8.6% over the prior year. Fiscal year 2025 diluted earnings per share were $1.39 (GAAP) and $2.90 (non-GAAP). The company authorized a share repurchase plan of up to $100 million and voluntarily repaid an incremental $200 million of its Term Loan Credit Facility in February 2026. For the fiscal first quarter 2026, Ingram Micro anticipates net sales between $12.45 billion and $12.80 billion, with non-GAAP earnings per share ranging from $0.67 to $0.75, a year-over-year increase of 10% to 23%.