Avnet Posts Record $8.3B Quarterly Sales, Adjusted EPS Soars 182%
AVT has more than doubled off its 52-week low of $44.25.
Summary
Avnet delivered blowout Q4 results with record sales of $8.3 billion, up 48% year-over-year, beating estimates on improved demand. Adjusted EPS soared 182% to $2.28. Adjusted operating income grew 2.6x faster than sales, with margins expanding sharply across both EC and Farnell segments. Inventory days dropped to 71, signaling efficient working capital management. The full fiscal year saw $27.6 billion in sales and adjusted EPS of $5.67, up 65%. The company returned $138 million via buybacks, reducing shares outstanding by 3.2%, following a $200 million increase in receivables financing in July to strengthen liquidity.
At the time of this announcement, AVT was trading at $101.23 on NASDAQ in the Technology sector, with a market capitalization of approximately $7.6B. The 52-week trading range was $44.25 to $95.26. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.