Stock Track | Avnet Shares Plunge 6.02% Pre-Market Following Q1 Earnings and Weak Q2 Guidance

Stock Track10-29

Shares of Avnet (AVT) tumbled 6.02% in pre-market trading on Wednesday following the release of the company's first-quarter fiscal 2026 financial results and disappointing second-quarter guidance. The electronic components distributor's performance and outlook appear to have fallen short of investor expectations, triggering a significant sell-off.

Avnet reported first-quarter earnings per share (EPS) of $0.61, which marks a substantial decline from the adjusted EPS of $0.84 reported in the same period last year. This 27% year-over-year decrease in earnings likely contributed to the negative sentiment among investors. While the company's Q1 sales reached $5.90 billion, slightly exceeding analyst estimates, the focus seems to be on the bottom-line performance and future outlook.

Adding to investor concerns, Avnet provided guidance for the second quarter that suggests continued challenges. The company forecasts adjusted EPS in the range of $0.90 to $1.00 and sales between $5.85 billion and $6.15 billion for Q2. This outlook may be perceived as cautious, potentially indicating that Avnet expects headwinds in the coming months. The projected earnings range falls below the previous quarter's adjusted EPS, which could be interpreted as a sign of declining profitability.

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