Overview
Avnet fiscal Q1 sales of $5.9 bln beat analyst expectations
Adjusted EPS for fiscal Q1 beats consensus at $0.84
Company repurchased $138 mln in shares, 3.2% of shares outstanding
Outlook
Avnet expects Q2 fiscal 2026 sales between $5.85 bln and $6.15 bln
Company projects Q2 adjusted diluted EPS of $0.90 to $1.00
Avnet sees sequential sales growth in Americas and Asia, flat in Europe
Result Drivers
FARNELL AND ASIA GROWTH - Double-digit year-over-year sales growth in Farnell and Asia led to better-than-expected sales and earnings, per CEO Phil Gallagher
AMERICAS SALES GROWTH - Return to year-over-year sales growth in the Americas contributed to overall sales increase
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales | Beat | $5.90 bln | $5.73 bln (5 Analysts) |
Q1 Adjusted EPS | Beat | $0.84 | $0.81 (4 Analysts) |
Q1 EPS | $0.61 | ||
Q1 Net Income | $51.74 mln | ||
Q1 Gross Profit | $614.76 mln | ||
Q1 Operating Income | $142.03 mln | ||
Q1 Pretax Profit | $76.80 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy."
Wall Street's median 12-month price target for Avnet Inc is $52.00, about 2.8% above its October 28 closing price of $50.54
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBw6SwQn5a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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