Movement Alert｜Avnet Falls 6.75% in Regular Trading, Despite Strong Quarterly Beat and Above-Consensus Outlook

Market Focus11-05 00:15

On November 5, Avnet fell 6.75% in Regular Trading, trading at $82.86, with turnover of $59.59 million.

The key catalyst in focus was the company’s latest quarterly report: fiscal first-quarter adjusted EPS came in at $3.63 versus consensus expectations around $2.86-$2.88, while revenue reached $10.72 billion, ahead of forecasts near $9.20-$9.22 billion.

Avnet also initiated fiscal second-quarter guidance above market expectations, projecting adjusted EPS of $3.90 to $4.10 on revenue of $11.1 billion to $11.4 billion, compared with analyst expectations of about $2.97 EPS and $9.42 billion revenue. Even with both results and guidance topping consensus, the stock still moved lower in Regular Trading.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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