Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartered global pharmaceutical company with a strategic focus on specialty, hospital, and rare disease medicines in Europe, today announced that the European Medicines Agency (EMA) has accepted a Marketing Authorization Application for AVT05, Alvotech’s proposed biosimilar to Simponi® (golimumab),  a biologic used to treat several chron ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------------------------------------------------------------------------------------------|------------------------------------------------|------------------- ...

Avnet (AVT) reported better-than-expected results for first-quarter fiscal 2025. AVT reported earnings of 92 cents per share for the quarter, which surpassed the Zacks Consensus Estimate of 85 cents.Quarterly earnings also came way above management’s guidance of 80-90 cents per share. However, the bottom line declined 42.9% year over year due to a decrease in revenues.AVT’s fiscal first-quarter revenues were $5.6 billion, just above the high end of the company’s guidance of $5.25-$5.55 billion. The figure s ...

Financial Data and Key Metrics Changes - The company achieved sales of over $5.6 billion and adjusted EPS of $0.92, both exceeding the high end of guidance [5][24] - Sales decreased by 12% year-over-year but increased by 1% sequentially [24][25] - Gross margin was 10.8%, down 97 basis points year-over-year and 72 basis points sequentially [26] - Adjusted operating income was $169 million with an adjusted operating margin of 3% [29] Business Line Data and Key Metrics Changes - Electronic Components sales declined 11% year-over-year but increased 1% sequentially [25] - Farnell sales decreased 18% year-over-year and 8% sequentially [26][15] - The Asia region saw a 14% sequential increase and a 6% year-over-year increase in sales, driven by strength in server and data center markets [12][25] Market Data and Key Metrics Changes - EMEA sales declined 28% year-over-year, while Americas sales decreased 16% [25] - Demand in aerospace and defense increased sequentially in EMEA but remained flat year-over-year [13] - The global book-to-bill ratio remains below parity, with Asia showing the strongest ratio [7] Company Strategy and Development Direction - The company is focusing on cost control and managing working capital while preparing for market recovery [6][18] - There is an emphasis on improving the Farnell business under new leadership, with restructuring efforts underway [15][17] - The company is optimistic about future growth opportunities in AI-related projects and the overall market recovery [21][22] Management's Comments on Operating Environment and Future Outlook - Management believes the market correction may continue for another quarter or two, with expectations for modest improvement in the second half of fiscal 2025 [55][74] - The company is seeing some positive indicators, including a return to year-on-year growth in Asia and an increase in turns business [22][75] - Management remains confident in the company's ability to adapt and thrive through market changes [23] Other Important Information - The company generated over $100 million in cash flow from operations during the quarter [5] - Inventory levels increased due to foreign currency exchange rates, but the company aims to reduce inventory days to the 80s by the end of the fiscal year [33][34] - The quarterly dividend was increased by approximately 6% to $0.33 per share, and share buyback authorization was expanded to $600 million [37][38] Q&A Session Summary Question: Understanding Asia's Return to Year-over-Year Growth - Management noted that growth in Asia is not solely driven by data center opportunities but includes increases in consumer, communication, and industrial sectors [42][43] Question: Farnell's Future and EBIT Target - Management expressed confidence in Farnell's model returning to double-digit EBIT, despite current challenges [44][45] Question: Market Correction Outlook - Management believes the market correction may last another quarter or two, with expectations for improvement in early 2025 [55] Question: Impact of WT Micro Acquisition - Management refrained from commenting on competitive dynamics but acknowledged the potential for synergies [57] Question: Operating Margin Impact from FX and Mix - Management indicated that FX had a 150 to 200 basis point impact on margins, with a focus on returning to double-digit margins over time [58][59] Question: Guidance for December Quarter - Management anticipates modest regional growth in December, despite typical seasonal declines in Europe [63][64] Question: Inventory Management - Management acknowledged the need to reduce inventory levels while also seizing market opportunities [68][71] Question: End Market Exposure - Management provided rough estimates of end market exposure, indicating a diversified customer base across various sectors [79][80]

Avnet First Quarter Fiscal Year 2025 Financial Results /\VNET October 30, 2024 Safe Harbor Statement This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the financial condition, results of operations, and business of the Company. You can find many of these statements by looking for words like "believes," "projected", "plans," "expects," "anticipates," ...

Avnet (AVT) reported $5.6 billion in revenue for the quarter ended September 2024, representing a year-overyear decline of 11.6%. EPS of $0.92 for the same period compares to $1.61 a year ago. The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $5.41 billion. With the consensus EPS estimate being $0.85, the EPS surprise was +8.24%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Avnet (AVT) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $1.61 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 8.24%. A quarter ago, it was expected that this distributor of electronic components would post earnings of $0.95 per share when it actually produced earnings of $1.22, delivering a surprise of 28.42%. Over the last four quar ...

Exhibit 99.1 Avnet Reports First Quarter 2025 Financial Results First quarter sales of $5.6 billion and diluted EPS of $0.66 Adjusted diluted EPS of $0.92 Cash flow from operations of $838 million over past four quarters PHOENIX – October 30, 2024 – Avnet, Inc. (Nasdaq: AVT) today announced results for its first quarter ended September 28, 2024. "In the first quarter, our sales and earnings exceeded the upper end of our guidance range led by a return to growth in our Asia region. We continue to focus on imp ...

Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, announced today that the European Medicines Agency (EMA) has accepted a Marketing Authorization Application for AVT03, a proposed biosimilar candidate to Prolia® and Xgeva® (denosumab). “EMA acceptance marks an important step towards making AVT03 available to patients and caregivers in Europe,” said Joseph McClellan, Chief Scientific Officer of Alvotech. “Successf ...

The approvals process is anticipated to be completed in the third quarter of 2025 REYKJAVIK, Iceland and LONDON, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartered global pharmaceutical company with a strategic focus on specialty, hospital, and rare disease medicines in Europe, today announced that the European Medicines Agency (EMA) has accept ...