Avnet Q3 FY23: Sales $6.5B, diluted EPS $2.03 beat guidance; EC margin hits 5%

AVNET INC

2023-Q3 EPS reported $6.58 revenue$19,982,273,000

Sales $6.51B (+0.4% YoY; constant currency +3.4%); diluted EPS $2.03 vs $1.84 (+10.3%).
Adjusted EPS $2.00, down 7% YoY from $2.15; higher interest & FX impacted by $0.46.
Electronic Components operating margin 5.0% (record, +64 bps YoY); Farnell margin 9.0% (flat sequentially, down from 14.9% YoY).
Regional sales: Americas +5.4%, EMEA +9.5%, Asia -10.1% YoY.
Generated $18.3M operating cash flow; returned $26.5M in dividends.

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