Stock Track | Avnet Plunges 5% Despite Q1 Beat as Market Headwinds Persist

Stock Track11-01

Shares of Avnet Inc. (AVT), a leading global electronics distributor, plummeted by 5.01% on October 31st, 2024, despite the company reporting better-than-expected results for its fiscal first quarter of 2025. The stock's decline highlights the ongoing challenges faced by the electronics supply chain industry and investors' concerns over Avnet's near-term outlook.

In its earnings report, Avnet posted revenue of $5.6 billion, down 12% year-over-year but above analysts' expectations. Adjusted earnings per share (EPS) of $0.92 also surpassed guidance, driven by strong performance in the Asia region. However, the company's results were weighed down by continued weakness in Europe, the Middle East, and Africa (EMEA) and the Americas, as well as its underperforming Farnell business.

The company's gross margin declined to 10.8%, the lowest level in several years, primarily due to a sales mix shift towards Asia and lower margins at Farnell. Operating expenses were lower than anticipated, but the company cautioned that they would likely increase modestly as sales recover.

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(AVT), a leading global electronics distributor, plummeted by 5.01% on October 31st, 2024, despite the company reporting better-than-expected results for its fiscal first quarter ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AVT","symbol_name":"安富利电子","start_time":0,"source_url":"","article_id":"1170207699","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1170207699","pubTimestamp":1730398600,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Avnet Inc. , a leading global electronics distributor, plummeted by 5.01% on October 31st, 2024, despite the company reporting better-than-expected results for its fiscal first quarter of 2025. 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