Avnet Q1 sales $6.3B (-6.1% YoY); adjusted EPS $1.61, above guidance, but down 19.5% YoY

AVNET INC

2024-Q1 EPS reported $2.25 revenue$6,335,648,000

GAAP diluted EPS $2.25 vs $1.93 prior year; includes $0.71 legal settlement gain.
Sales of $6.3B down 6.1% YoY; constant currency sales down 7.8% YoY and 2.9% sequentially.
Electronic Components operating margin 4.6% (+38 bps YoY); Farnell margin 4.2% (-389 bps QoQ).
Adjusted EPS $1.61 exceeded company guidance; management cited strong EC performance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

AVNET INC reported first quarter ended September 30, 2023 results: revenue $6.3 billion, EPS $2.25.

Period: first quarter ended September 30, 2023
Revenue: $6.3 billion
EPS: $2.25
Result: reported results

Exact text from the filing

Act of 1933 except as shall be expressly set forth in such filing. --- EX-99.1 (EX-99.1) --- Avnet Reports First Quarter 2024 Financial Results First quarter sales of $6.3 billion and diluted EPS of $2.25 Adjusted diluted EPS of $1.61 exceeded guidance Electronic Components operating margin of 4.6% increased 38 basis points year over year PHOENIX –

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AVNET INC filing history →

Source: SEC EDGAR

accession 0000008858-23-000036

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