Avnet Posts Record Q1 Sales of $10.7B, EPS $3.28; Guides Q2 to $3.90-$4.10 Adjusted
AVT sits 100% above its 52-week low of $44.25 on elevated volume (2.1× avg).
Summary
Avnet reported record fiscal Q1 2027 sales of $10.7 billion and adjusted EPS of $3.63, then guided Q2 to $11.1-$11.4 billion in sales and $3.90-$4.10 adjusted EPS. The quarter included an extra week worth about $654 million of sales, and heavy inventory build drove $842 million of operating cash burn.
Key Events · Earnings and Guidance · AVT
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Record Q1 Sales of $10.7 Billion
Sales rose 81.7% year over year and 29.2% sequentially to $10,718.0 million; excluding the extra week in the 14-week quarter, growth was 70.6% year over year and 21% sequentially.
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Adjusted EPS $3.63, Up 332%
Adjusted diluted EPS of $3.63 versus $0.84 a year ago; GAAP diluted EPS was $3.28 versus $0.61. Adjusted operating income of $498.1 million carried a 4.7% margin, up 210 basis points.
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Q2 Guidance: $11.1B-$11.4B Sales
Adjusted diluted EPS guided to $3.90-$4.10 (midpoint $4.00) on sales of $11.1-$11.4 billion, implying about 5% sequential growth at the midpoint, or 12% adjusting for the extra week.
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Working Capital Build Burns $842M Cash
Inventories rose $2,121.7 million and receivables $893.3 million, producing $842.4 million of operating cash outflow, funded by $375.0 million of term loan borrowings and $648.9 million drawn on the senior unsecured credit facility.
Analysis · AVT · Trade & Services
Avnet's fiscal Q1 sales nearly doubled year over year to a record $10.7 billion, and adjusted EPS of $3.63 came in more than four times the prior-year $0.84. Part of the jump is calendar: the quarter had 14 weeks instead of 13, worth an estimated $654 million of sales, so organic growth was 70.6% rather than the headline 81.7%. Margins expanded sharply in both segments — Electronic Components operating margin rose 189 basis points to 4.8% and Farnell jumped 576 basis points to 10.1% — and return on working capital climbed to 25.2% from 9.8% a year ago. The Q2 guide of $11.1-$11.4 billion in sales and $3.90-$4.10 adjusted EPS implies roughly 5% sequential growth at the midpoint, or 12% adjusting for the extra week. The offset is working capital: inventory rose $2.1 billion and receivables $893 million in the quarter, driving $842 million of operating cash burn, funded by $375 million of new term loans and $649 million drawn on the revolver.
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At the time of this filing, AVT was trading at $88.44 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $7.3B. The 52-week trading range was $44.25 to $108.63. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.