Avnet Assumes Slightly Weaker Euro, Pound -- Currency Comment

Dow Jones05-01

By Paulo Trevisani

Avnet issued Wednesday fiscal fourth quarter guidance assuming a slightly weaker euro and pound relative to the U.S. dollar.

The electronics maker said its sales guidance range midpoint is $5.35 billion, for the quarter ending June 29.

The outlook assumes an average currency exchange rate of $1.07 per euro, compared to $1.09 in the fiscal third quarter, the company said. The expected average for the pound is set at $1.24, versus $1.27 in the third quarter.

The EURUSD was recently at 1.07 and the GBPUSD was 1.25, according to FactSet.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

May 01, 2024 11:53 ET (15:53 GMT)

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