Avnet Q4 sales $5.6B, adjusted EPS $1.22; YoY sales down 15.1%, EPS down 40.8%

AVNET INC

2024-FY EPS reported $5.43 revenue$23,757,129,000

Q4 sales $5.56B (-15.1% YoY); GAAP diluted EPS $0.91 (-45.8%); adjusted diluted EPS $1.22 (-40.8%).
Electronic Components segment operating margin 4.1% (down from 5.1% YoY); Farnell margin 4.0% (down from 8.1%).
Generated $274M cash from operations; returned $79M in share repurchases and $28M in dividends.
FY2024 sales $23.8B (-10.2% YoY); GAAP diluted EPS $5.43 (-34.3%); adjusted diluted EPS $5.34 (-33.7%).
CEO says Q4 sales and earnings exceeded upper end of guidance; cautious optimism for FY2025 recovery.

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