PHOENIX--(BUSINESS WIRE)--Avnet (Nasdaq: AVT), a leading global technology solutions provider, today announced it will participate in the upcoming 45th Annual Raymond James Institutional Investors Conference on March 4, 2024. Avnet’s Chief Financial Officer Ken Jacobson and Vice President, Treasury & Investor Relations Joe Burke will participate in a fireside chat at 11:00 a.m. ET. The live and archived webcast of the presentation can be accessed via Avnet’s Investor Relations web page at https://ir.avnet. ...

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 December 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------|-------------------------------------------|------------------- ...

Avnet (AVT) reported better-than-expected second-quarter fiscal 2024 results. The company’s non-GAAP earnings were $1.40 per share, which surpassed the Zacks Consensus Estimate of $1.39. However, the reported figure came 30% lower than the year-ago quarter’s non-GAAP earnings of $2 per share, mainly due to lower revenues and the negative impact of 12 cents from higher interest expenses.Revenues declined 7.6% year over year to $6.20 billion but slightly came ahead of the Zacks Consensus Estimate of $6.15 bil ...

Avnet Inc. (NASDAQ:AVT) Q2 2024 Earnings Call Transcript January 31, 2024 11:00 AM ET Company Participants Joe Burke - Vice President of Treasury & Investor Relations Phil Gallagher - CEO, Member of Executive Board & Director Ken Jacobson - Chief Financial Officer Conference Call Participants William Stein - Truth Securities Ruplu Bhattacharya - Bank of America Joe Quatrochi - Wells Fargo Matt Sheerin - Stifel Toshiya Hari - Goldman Sachs Operator Welcome to the Avnet Second Quarter Fiscal Year 2024 Earning ...

Avnet (AVT) reported $6.2 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 7.6%. EPS of $1.40 for the same period compares to $2.00 a year ago.The reported revenue represents a surprise of +0.86% over the Zacks Consensus Estimate of $6.15 billion. With the consensus EPS estimate being $1.39, the EPS surprise was +0.72%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ne ...

PHOENIX--(BUSINESS WIRE)--Avnet, Inc. (Nasdaq: AVT) today announced results for its second quarter ended December 30, 2023. Commenting on the Company’s financial results, Avnet Chief Executive Officer Phil Gallagher stated, “We are pleased with the second quarter results, which were in line with our expectations. Our team continues to execute well despite the current economic environment and related challenges. We are confident that our strong competitive position and experience managing through many indus ...

Core Viewpoint - Avnet (AVT) is anticipated to report a year-over-year decline in earnings due to lower revenues, with the upcoming earnings report expected on January 31, 2024 [1][2]. Financial Expectations - The consensus estimate for quarterly earnings is $1.39 per share, reflecting a year-over-year decrease of 30.5% [2]. - Expected revenues are projected at $6.15 billion, down 8.4% from the same quarter last year [2]. Estimate Revisions - The consensus EPS estimate has been revised 1.85% lower in the last 30 days, indicating a reassessment by analysts [2]. - The Most Accurate Estimate for Avnet is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1% [5]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank of 1, 2, or 3 [4]. - Avnet currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat [5][6]. Historical Performance - In the last reported quarter, Avnet exceeded the expected earnings of $1.50 per share, achieving $1.61, resulting in a surprise of +7.33% [7]. - Over the past four quarters, Avnet has consistently beaten consensus EPS estimates [7]. Conclusion - Avnet does not appear to be a compelling candidate for an earnings beat based on current estimates and rankings, but other factors should also be considered by investors [8].

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 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------------------------------------------------------------------------------------------|------------------------------------------------|------------------- ...

Avnet First Quarter Fiscal Year 2024 Financial Results 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 theCompany. You can find many of these statements by looking for words like “believes,” “projected”, “plans,” “expects,” “anticipates,” “should,” “will,” “may,” ...

Avnet, Inc. (NASDAQ:AVT) Q1 2024 Earnings Conference Call November 1, 2023 4:30 PM ET Company Participants Joe Burke – Vice President-Investor Relations Phil Gallagher – Chief Executive Officer Ken Jacobson – Chief Financial Officer Conference Call Participants Melissa Fairbanks – Raymond James Ruplu Bhattacharya – Bank of America Joe Quatrochi – Wells Fargo Matt Sheerin – Stifel Joseph Cardoso – JPMorgan William Stein – Truist Securities Operator Greetings and welcome to the Avnet First Quarter Fiscal Year ...