Avnet Q3 FY2024 sales down 13% YoY to $5.7B, EPS $0.97

AVNET INC

2024-Q3 EPS reported $4.52 revenue$18,194,153,000

Sales $5.65B, down 13.2% YoY; GAAP diluted EPS $0.97 vs $2.03.
Adjusted diluted EPS $1.10, down 45% YoY; operating margin 3.4% vs 4.8%.
Electronic Components operating margin 4.1% (5.0% prior); Farnell margin 4.0% (9.0% prior).
Cash from operations ~$500M; returned $28M in dividends during quarter.
CEO cites continued soft demand; Q4 outlook expects similar market conditions.

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 0.9

AVNET INC reported its third quarter ended March 30, 2024 results: revenue $5.7 billion, EPS $0.97.

Period: its third quarter ended March 30, 2024
Revenue: $5.7 billion
EPS: $0.97
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 Third Quarter 2024 Financial Results Third quarter sales of $5.7 billion and diluted EPS of $0.97 Adjusted diluted EPS of $1.10 Electronic Components operating margin of 4.1% PHOENIX – May 1, 2024 – Avnet, Inc. (Nasdaq: AVT ) today announced results

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Source: SEC EDGAR

accession 0000008858-24-000017

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