Second quarter sales of $5.7 billion and
diluted EPS of $0.99
Adjusted diluted EPS of $0.87
Cash flow from operations of $1.2 billion over
the past four quarters
Avnet, Inc. (Nasdaq: AVT) today announced results for its second
quarter ended December 28, 2024.
“In the second quarter, we delivered sales and earnings within
expectations, while continuing to make good progress managing the
factors within our control,” said Avnet Chief Executive Officer
Phil Gallagher. “Our team’s focus on optimizing inventory and
effective operations allowed us to deliver another strong quarter
of operating cash flow. Although market conditions are challenging,
the value we add at the center of the technology supply chain has
never been more important. We remain focused on helping connect our
suppliers’ technology solutions to the increasingly complex
requirements of our customers.”
Fiscal Second Quarter Key Financial Highlights:
- Sales of $5.7 billion, compared with $6.2 billion in the prior
year quarter.
- Second consecutive quarter of year over year sales growth in
Asia.
- Diluted earnings per share of $0.99, compared with $1.28 in the
prior year quarter.
- Adjusted diluted earnings per share of $0.87, compared with
$1.40 in the prior year quarter.
- Operating income margin of 2.7%, compared with 3.8% in the
prior year quarter.
- Adjusted operating income margin of 2.8%, compared with 3.9% in
the prior year quarter.
- Generated over $300 million of cash flow from operations.
- Inventory down $362 million or more than 6% from the prior
quarter.
- Returned $51 million to shareholders from share repurchases,
representing 1.1% of shares outstanding.
- Returned $29 million to shareholders in dividends.
Key Financial Metrics
($ in millions, except per share data)
Second Quarter Results (GAAP)
Dec – 24
Dec – 23
Change Y/Y
Sep – 24
Change Q/Q
Sales
$
5,663.4
$
6,204.9
(8.7
)%
$
5,604.2
1.1
%
Operating Income
$
155.3
$
236.3
(34.3
)%
$
142.2
9.2
%
Operating Income Margin
2.7
%
3.8
%
(107
)bps
2.5
%
20
bps
Diluted Earnings Per Share (EPS)
$
0.99
$
1.28
(22.7
)%
$
0.66
50.0
%
Second Quarter Results
(Non-GAAP)(1)
Dec – 24
Dec – 23
Change Y/Y
Sep – 24
Change Q/Q
Adjusted Operating Income
$
159.5
$
242.2
(34.2
)%
$
168.9
(5.6
)%
Adjusted Operating Income Margin
2.8
%
3.9
%
(108
)bps
3.0
%
(19
)bps
Adjusted Diluted Earnings Per Share
(EPS)
$
0.87
$
1.40
(37.9
)%
$
0.92
(5.4
)%
Segment and Geographical Mix
Dec – 24
Dec – 23
Change Y/Y
Sep – 24
Change Q/Q
Electronic Components (EC) Sales
$
5,317.8
$
5,812.1
(8.5
)%
$
5,257.1
1.2
%
EC Operating Income Margin
3.4
%
4.3
%
(85
)bps
3.8
%
(33
)bps
Farnell Sales
$
345.6
$
392.8
(12.0
)%
$
347.1
(0.4
)%
Farnell Operating Income Margin
1.0
%
4.0
%
(299
)bps
0.5
%
47
bps
Americas Sales
$
1,368.8
$
1,588.5
(13.8
)%
$
1,329.9
2.9
%
EMEA Sales
$
1,582.8
$
2,113.6
(25.1
)%
$
1,668.2
(5.1
)%
Asia Sales
$
2,711.8
$
2,502.8
8.4
%
$
2,606.1
4.1
%
____________________________
(1)
A reconciliation of non-GAAP
financial measures to GAAP financial measures is presented in the
“Non-GAAP Financial Information” section of this press release.
Outlook for the Third Quarter of Fiscal
2025 Ending on March 29, 2025
Guidance Range
Midpoint
Sales
$5.05B – $5.35B
$5.20B
Diluted EPS (1)
$0.65 – $0.75
$0.70
(1)
A reconciliation of non-GAAP
guidance to GAAP guidance is presented in the “Non-GAAP Financial
Information” section of this press release.
The above guidance implies a sequential sales change of down 6%
to down 11%. This sales guidance implies expectations of seasonal
sales declines in Asia due to the Lunar New Year and modest sales
declines in the western regions compared to typical seasonal sales
growth.
The above guidance also excludes restructuring, integration and
other expenses, foreign currency gains and losses, and certain
income tax adjustments. The above guidance assumes similar interest
expense to the second quarter of fiscal 2025 and an adjusted
effective tax rate of between 22% and 26%. The above guidance
assumes 88 million average diluted shares outstanding and average
currency exchange rates as shown in the table below:
Q3 Fiscal
2025
Q2 Fiscal
Q3 Fiscal
Guidance
2025
2024
Euro to U.S. Dollar
$1.04
$1.07
$1.09
GBP to U.S. Dollar
$1.25
$1.28
$1.27
Today’s Conference Call and Webcast Details
Avnet will host a conference call and webcast today at 8:00 a.m.
PT / 11:00 a.m. ET to discuss its financial results, provide a
business update and answer questions.
- Live conference call: 877-407-8112 (domestic) or 201-689-8840
(international)
- Live webcast along with slides can be accessed via Avnet’s
Investor Relations website at https://ir.avnet.com
- An audio replay of the webcast will be available after the
completion of the call and archived on the website for one
year
Forward-Looking Statements
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,” “should,” “will,” “may,” “estimates,” or similar
expressions. These forward-looking statements are subject to
numerous assumptions, risks, and uncertainties. The following
important factors, in addition to those discussed elsewhere in the
Company’s Annual Report on Form 10-K for the fiscal year ended June
29, 2024 and subsequent Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K, could affect the Company’s future results of
operations, and could cause those results or other outcomes to
differ materially from those expressed or implied in the
forward-looking statements: geopolitical events and military
conflicts; pandemics and other health-related crises; competitive
pressures among distributors of electronic components; an industry
down-cycle in semiconductors; relationships with key suppliers and
allocations of products by suppliers; accounts receivable defaults;
risks relating to the Company’s international sales and operations,
including risks relating to repatriating cash, foreign currency
fluctuations, inflation, duties and taxes, sanctions and trade
restrictions, and compliance with international and U.S. laws;
risks relating to acquisitions, divestitures, and investments;
adverse effects on the Company’s supply chain, operations of its
distribution centers, shipping costs, third-party service
providers, customers, and suppliers, including as a result of
issues caused by military conflicts, terrorist attacks, natural and
weather-related disasters, pandemics and health related crises,
warehouse modernization, and relocation efforts; risks related to
cyber security attacks, other privacy and security incidents, and
information systems failures, including related to current or
future implementations, integrations, and upgrades; general
economic and business conditions (domestic, foreign, and global)
affecting the Company’s operations and financial performance and,
indirectly, the Company’s credit ratings, debt covenant compliance,
liquidity, and access to financing; constraints on employee
retention and hiring; and legislative or regulatory changes.
Any forward-looking statement speaks only as of the date on
which that statement is made. Except as required by law, the
Company assumes no obligation to update any forward-looking
statement to reflect events or circumstances that occur after the
date on which the statement is made.
About Avnet
As a leading global technology distributor and solutions
provider, Avnet has served customers’ evolving needs for more than
a century. We support customers at each stage of a product’s
lifecycle, from idea to design and from prototype to production.
Our unique position at the center of the technology value chain
enables us to accelerate the design and supply stages of product
development so customers can realize revenue faster. Decade after
decade, Avnet helps its customers and suppliers around the world
realize the transformative possibilities of technology. Learn more
about Avnet at www.avnet.com. (AVT_IR)
AVNET, INC.
CONSOLIDATED STATEMENTS OF
OPERATIONS
(UNAUDITED)
Second Quarters Ended
Six Months Ended
December 28,
December 30,
December 28,
December 30,
2024
2023
2024
2023
(Thousands, except per share
data)
Sales
$
5,663,384
$
6,204,914
$
11,267,536
$
12,540,562
Cost of sales
5,067,332
5,498,730
10,064,118
11,086,273
Gross profit
596,052
706,184
1,203,418
1,454,289
Selling, general and administrative
expenses
436,931
464,692
875,722
951,977
Restructuring, integration, and other
expenses
3,794
5,235
30,145
12,286
Operating income
155,327
236,257
297,551
490,026
Other expense, net
(2,645
)
(8,397
)
(5,687
)
(2,437
)
Interest and other financing expenses,
net
(62,399
)
(74,302
)
(126,843
)
(145,098
)
Gain on legal settlements and other
—
—
—
86,499
Income before taxes
90,283
153,558
165,021
428,990
Income tax expense
3,030
35,627
18,812
101,791
Net income
$
87,253
$
117,931
$
146,209
$
327,199
Earnings per share:
Basic
$
1.00
$
1.31
$
1.67
$
3.60
Diluted
$
0.99
$
1.28
$
1.65
$
3.54
Shares used to compute earnings per
share:
Basic
86,846
90,253
87,469
90,874
Diluted
88,327
91,792
88,859
92,485
Cash dividends paid per common share
$
0.33
$
0.31
$
0.66
$
0.62
AVNET, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(UNAUDITED)
December 28,
June 29,
2024
2024
(Thousands)
ASSETS
Current assets:
Cash and cash equivalents
$
172,136
$
310,941
Receivables
4,421,428
4,391,187
Inventories
5,252,466
5,468,730
Prepaid and other current assets
226,326
199,694
Total current assets
10,072,356
10,370,552
Property, plant and equipment, net
564,348
568,169
Goodwill
773,656
780,984
Operating lease assets
202,617
208,971
Other assets
329,954
280,471
Total assets
$
11,942,931
$
12,209,147
LIABILITIES AND SHAREHOLDERS’
EQUITY
Current liabilities:
Short-term debt
$
2,604
$
492,711
Accounts payable
3,626,333
3,345,510
Accrued expenses and other
523,628
573,055
Short-term operating lease liabilities
53,495
53,993
Total current liabilities
4,206,060
4,465,269
Long-term debt
2,567,379
2,406,629
Long-term operating lease liabilities
165,813
173,886
Other liabilities
159,776
237,859
Total liabilities
7,099,028
7,283,643
Shareholders’ equity
4,843,903
4,925,504
Total liabilities and shareholders’
equity
$
11,942,931
$
12,209,147
AVNET, INC.
CONSOLIDATED STATEMENTS OF
CASH FLOWS
(UNAUDITED)
Six Months Ended
December 28,
December 30,
2024
2023
(Thousands)
Cash flows from operating activities:
Net income
$
146,209
$
327,199
Non-cash and other reconciling items:
Depreciation and amortization
36,912
42,727
Amortization of operating lease assets
27,345
26,205
Deferred income taxes
(40,713
)
12,599
Stock-based compensation
20,986
19,951
Other, net
20,958
27,181
Changes in (net of effects from businesses
acquired and divested):
Receivables
(59,604
)
287,320
Inventories
162,328
(610,008
)
Accounts payable
312,861
(78,082
)
Accrued expenses and other, net
(183,130
)
(138,667
)
Net cash flows provided by (used for)
operating activities
444,152
(83,575
)
Cash flows from financing activities:
Borrowings under accounts receivable
securitization, net
84,900
58,600
(Repayments) borrowings under senior
unsecured credit facility, net
(321,769
)
272,747
(Repayments) borrowings under bank credit
facilities and other debt, net
(70,793
)
30,752
Repurchases of common stock
(152,199
)
(86,027
)
Dividends paid on common stock
(57,420
)
(56,138
)
Other, net
4,534
2,665
Net cash flows (used for) provided by
financing activities
(512,747
)
222,599
Cash flows from investing activities:
Purchases of property, plant and
equipment
(61,135
)
(158,088
)
Other, net
347
373
Net cash flows used for investing
activities
(60,788
)
(157,715
)
Effect of currency exchange rate changes
on cash and cash equivalents
(9,422
)
3,311
Cash and cash equivalents:
— decrease
(138,805
)
(15,380
)
— at beginning of period
310,941
288,230
— at end of period
$
172,136
$
272,850
Non-GAAP Financial
Information
In addition to disclosing financial results that are determined
in accordance with generally accepted accounting principles in the
United States (“GAAP”), the Company also discloses certain non-GAAP
financial information including (i) adjusted operating income, (ii)
adjusted other income (expense), (iii) adjusted income before
income taxes, (iv) adjusted income tax expense (benefit), and (v)
adjusted diluted earnings per share.
There are also references to the impact of foreign currency in
the discussion of the Company’s results of operations. When the
U.S. Dollar strengthens and the stronger exchange rates of the
current year are used to translate the results of operations of
Avnet’s subsidiaries denominated in foreign currencies, the
resulting impact is a decrease in U.S. Dollars of reported results.
Conversely, when the U.S. Dollar weakens and the weaker exchange
rates of the current year are used to translate the results of
operations of Avnet’s subsidiaries denominated in foreign
currencies, the resulting impact is an increase in U.S. Dollars of
reported results. In the discussion of the Company’s results of
operations, results excluding this impact are referred to as
“constant currency.” Management believes sales in constant currency
is a useful measure for evaluating current period performance as
compared with prior periods and for understanding underlying
trends. In order to determine the translation impact of changes in
foreign currency exchange rates on sales, income or expense items
for subsidiaries reporting in currencies other than the U.S.
Dollar, the Company adjusts the average exchange rates used in
current periods to be consistent with the average exchange rates in
effect during the comparative period.
Management believes that operating income adjusted for
restructuring, integration and other expenses, and amortization of
acquired intangible assets, is a useful measure to help investors
better assess and understand the Company’s operating performance.
This is especially the case when comparing results with previous
periods or forecasting performance for future periods, primarily
because management views the excluded items to be outside of
Avnet’s normal operating results or non-cash in nature. Management
analyzes operating income without the impact of these items as an
indicator of ongoing margin performance and underlying trends in
the business. Management also uses these non-GAAP measures to
establish operational goals and, in most cases, for measuring
performance for compensation purposes. Management measures
operating income for its reportable segments excluding
restructuring, integration and other expenses, and amortization of
acquired intangible assets and other.
Management also believes income tax expense (benefit), net
income and diluted earnings per share adjusted for the impact of
the items described above, gain on legal settlements and other,
foreign currency gains and losses and certain items impacting
income tax expense (benefit) are useful to investors because they
provide a measure of the Company’s net profitability on a more
comparable basis to historical periods and provide a more
meaningful basis for forecasting future performance. Adjustments to
income tax expense (benefit) and the effective income tax rate
include the effect of changes in tax laws, certain changes in
valuation allowances and unrecognized tax benefits, income tax
audit settlements and adjustments to the effective tax rate based
upon the expected long-term adjusted effective tax rate.
Additionally, because of management’s focus on generating
shareholder value, of which net profitability is a primary driver,
management believes net income and diluted earnings per share
excluding the impact of these items provides an important measure
of the Company’s net profitability for the investing public.
Additional non-GAAP metrics management uses are adjusted
operating income margin, which is defined as adjusted operating
income divided by sales and the adjusted effective income tax rate,
which is defined as adjusted income tax expense divided by adjusted
income before income taxes.
Any analysis of results and outlook on a non-GAAP basis should
be used as a complement to, and in conjunction with, results
presented in accordance with GAAP.
Fiscal
Quarters Ended
Year to Date
December 28,
September 28,
2025*
2024
2024
($ in thousands, except per
share amounts)
GAAP operating income
$
297,551
$
155,327
$
142,225
Restructuring, integration, and other
expenses
30,145
3,794
26,351
Amortization of intangible assets
734
366
368
Adjusted operating income
328,430
159,487
168,944
GAAP other expense, net
$
(5,687
)
$
(2,645
)
$
(3,043
)
Foreign currency loss
9,887
5,104
4,783
Adjusted other income, net
4,200
2,459
1,740
GAAP income before income taxes
$
165,021
$
90,283
$
74,738
Restructuring, integration, and other
expenses
30,145
3,794
26,351
Amortization of intangible assets
734
366
368
Foreign currency loss
9,887
5,104
4,783
Adjusted income before income taxes
205,787
99,547
106,240
GAAP income tax expense
$
18,812
$
3,030
$
15,782
Restructuring, integration, and other
expenses
7,799
1,142
6,657
Amortization of intangible assets
173
86
87
Foreign currency loss
3,242
1,630
1,612
Income tax expense items, net
17,305
17,007
298
Adjusted income tax expense
47,331
22,895
24,436
GAAP net income
$
146,209
$
87,253
$
58,956
Restructuring, integration, and other
expenses (net of tax)
22,346
2,652
19,694
Amortization of intangible assets (net of
tax)
561
280
281
Foreign currency loss (net of tax)
6,645
3,474
3,171
Income tax expense items, net
(17,305
)
(17,007
)
(298
)
Adjusted net income
158,456
76,652
81,804
GAAP diluted earnings per share
$
1.65
$
0.99
$
0.66
Restructuring, integration, and other
expenses (net of tax)
0.25
0.03
0.22
Amortization of intangible assets (net of
tax)
0.01
0.00
0.00
Foreign currency loss (net of tax)
0.07
0.04
0.04
Income tax expense items, net
(0.20
)
(0.19
)
(0.00
)
Adjusted diluted EPS
1.78
0.87
0.92
____________________________
* May not foot/cross foot due to
rounding.
Quarters Ended
Fiscal Year
June 29,
March 30,
December 30,
September 30,
2024*
2024*
2024*
2023
2023
($ in thousands, except per
share amounts)
GAAP operating income
$
844,367
$
164,189
$
190,151
$
236,257
$
253,769
Restructuring, integration, and other
expenses
52,550
28,417
11,847
5,235
7,051
Amortization of intangible assets
3,130
828
712
712
878
Adjusted operating income
900,047
193,434
202,710
242,204
261,698
GAAP other (expense) income, net
$
(15,736
)
$
1,409
$
(14,707
)
$
(8,397
)
$
5,960
Foreign currency loss (gain) and other,
net
27,730
680
17,850
9,200
—
Adjusted other (expense) income, net
11,994
2,089
3,143
803
5,960
GAAP income before income taxes
$
632,263
$
101,324
$
101,948
$
153,558
$
275,432
Restructuring, integration, and other
expenses
52,550
28,417
11,847
5,235
7,051
Amortization of intangible assets
3,130
828
712
712
878
Foreign currency loss (gain) and other,
net
27,730
680
17,850
9,200
—
Gain on legal settlements and other
(86,499
)
—
—
—
(86,499
)
Adjusted income before income taxes
629,174
131,249
132,357
168,705
196,862
GAAP income tax expense
$
133,564
$
18,659
$
13,114
$
35,627
$
66,164
Restructuring, integration, and other
expenses
13,000
7,251
2,772
1,274
1,703
Amortization of intangible assets
700
185
156
156
203
Foreign currency loss (gain) and other,
net
7,373
88
5,251
2,034
—
Gain on legal settlements and other
(20,434
)
—
—
—
(20,434
)
Income tax expense items, net
4,992
(6,489
)
10,472
1,399
(390
)
Adjusted income tax expense
139,195
19,694
31,765
40,490
47,246
GAAP net income
$
498,699
$
82,665
$
88,834
$
117,931
$
209,268
Restructuring, integration, and other
expenses (net of tax)
39,550
21,166
9,075
3,961
5,348
Amortization of intangible assets (net of
tax)
2,430
643
556
556
675
Foreign currency loss (gain) and other,
net (net of tax)
20,357
592
12,599
7,166
—
Gain on legal settlements and other (net
of tax)
(66,065
)
—
—
—
(66,065
)
Income tax expense items, net
(4,992
)
6,489
(10,472
)
(1,399
)
390
Adjusted net income
489,979
111,555
100,592
128,215
149,616
GAAP diluted earnings per share
$
5.43
$
0.91
$
0.97
$
1.28
$
2.25
Restructuring, integration, and other
expenses (net of tax)
0.43
0.23
0.10
0.04
0.06
Amortization of intangible assets (net of
tax)
0.03
0.01
0.01
0.01
0.01
Foreign currency loss (gain) and other,
net (net of tax)
0.22
0.01
0.14
0.08
—
Gain on legal settlements and other (net
of tax)
(0.72
)
—
—
—
(0.71
)
Income tax expense items, net
(0.05
)
0.07
(0.11
)
(0.01
)
0.00
Adjusted diluted EPS
5.34
1.22
1.10
1.40
1.61
____________________________
* May not foot/cross foot due to
rounding.
Sales in Constant Currency
The following table presents the percentage change in sales and
the percentage change in sales in constant currency for the second
quarter and first six months of fiscal 2025 compared to the second
quarter and first six months of fiscal 2024.
Quarter Ended
Six Months Ended
December 28, 2024
December 28, 2024
Sales
Sales
Sales
Year-Year %
Sequential %
Year-Year %
Sales
Change in
Sales
Change in
Sales
Change in
Year-Year
Constant
Sequential
Constant
Year-Year
Constant
% Change
Currency
% Change
Currency
% Change
Currency
Avnet
(8.7
)%
(8.6
)%
1.1
%
1.8
%
(10.2
)%
(10.1
)%
Avnet by region
Americas
(13.8
)%
(13.8
)%
2.9
%
2.9
%
(14.7
)%
(14.7
)%
EMEA
(25.1
)
(25.0
)
(5.1
)
(3.0
)
(26.5
)
(26.8
)
Asia
8.4
8.6
4.1
4.2
7.3
7.5
Avnet by segment
EC
(8.5
)%
(8.3
)%
1.2
%
1.9
%
(9.8
)%
(9.8
)%
Farnell
(12.0
)
(12.5
)
(0.4
)
0.6
(14.9
)
(15.4
)
Historical Segment Financial Information
Quarters Ended
Fiscal
Second Quarter
First Quarter
Year to Date
December 28,
September 28,
2025*
2024
2024
($ in millions)
Sales:
Electronic Components
$
10,574.9
$
5,317.8
$
5,257.1
Farnell
692.6
345.6
347.1
Avnet sales
$
11,267.5
$
5,663.4
$
5,604.2
Operating income:
Electronic Components
$
379.0
$
181.6
$
197.4
Farnell
5.3
3.5
1.9
384.3
185.1
199.3
Corporate expenses
(55.9
)
(25.6
)
(30.3
)
Restructuring, integration, and other
expenses
(30.1
)
(3.8
)
(26.4
)
Amortization of acquired intangible
assets
(0.7
)
(0.4
)
(0.4
)
Avnet operating income
$
297.6
$
155.3
$
142.2
Sales by geographic area:
Americas
$
2,698.7
$
1,368.8
$
1,329.9
EMEA
3,251.0
1,582.8
1,668.2
Asia
5,317.8
2,711.8
2,606.1
Avnet sales
$
11,267.5
$
5,663.4
$
5,604.2
____________________________
* May not foot/cross foot due to
rounding.
Quarters Ended
Fiscal
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
Year
December 28,
September 28,
December 30,
September 30,
2024*
2024
2024
2023
2023
($ in millions)
Sales:
Electronic Components
$
22,160.0
$
5,187.8
$
5,245.8
$
5,812.1
$
5,914.4
Farnell
1,597.1
375.2
407.8
392.8
421.2
Avnet sales
$
23,757.1
$
5,563.0
$
5,653.6
$
6,204.9
$
6,335.6
Operating income:
Electronic Components
$
947.6
$
210.1
$
216.9
$
247.9
$
272.8
Farnell
64.8
15.1
16.3
15.7
17.7
1,012.4
225.2
233.2
263.6
290.5
Corporate expenses
(112.3
)
(31.8
)
(30.5
)
(21.4
)
(28.7
)
Restructuring, integration, and other
expenses
(52.6
)
(28.4
)
(11.8
)
(5.2
)
(7.1
)
Amortization of acquired intangible
assets
(3.1
)
(0.8
)
(0.7
)
(0.7
)
(0.9
)
Avnet operating income
$
844.4
$
164.2
$
190.2
$
236.3
$
253.8
Sales by geographic area:
Americas
$
5,919.2
$
1,353.8
$
1,403.4
$
1,588.5
$
1,573.5
EMEA
8,395.0
1,920.3
2,053.1
2,113.6
2,308.0
Asia
9,442.9
2,288.9
2,197.1
2,502.8
2,454.1
Avnet sales
$
23,757.1
$
5,563.0
$
5,653.6
$
6,204.9
$
6,335.6
____________________________
* May not foot/cross foot due to
rounding.
Guidance Reconciliation
The following table presents the reconciliation of non-GAAP
adjusted diluted earnings per share guidance to the expected GAAP
diluted earnings per share guidance for the third quarter of fiscal
2025.
Low End of
High End of
Guidance Range
Guidance Range
Adjusted diluted earnings per share
guidance
$
0.65
$
0.75
Restructuring, integration, and other
expenses (net of tax)
(0.09)
(0.04)
GAAP diluted earnings per share
guidance
$
0.56
$
0.71
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250129107768/en/
Investor Relations Contact
InvestorRelations@Avnet.com
Media Relations Contact Jeanne Forbis, 480-643-7499
Jeanne.Forbis@Avnet.com
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