secwatch.observer — SEC 8-K summary
======================================

Issuer:     AVNET INC (AVT)
CIK:        0000008858
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000008858-24-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8858/000000885824000017/0000008858-24-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8858/000000885824000017/avt-20240501x8k.htm
  HTML page:      https://secwatch.observer/filing/0000008858-24-000017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer