09:38 AM EDT, 05/01/2024 (MT Newswires) -- Avnet (AVT) early Wednesday reported fiscal Q3 adjusted earnings of $1.10 per diluted share compared with $2.00 a year earlier.

Analysts polled by Capital IQ expected $1.13.

Sales for the quarter ended March 30 was $5.65 billion, down from $6.51 billion a year earlier.

Analysts surveyed by Capital IQ expected $5.72 billion.

For Q4 ending June 29, the electronic components company is estimating adjusted earnings of $0.90 to $1.00 per diluted share on revenue of $5.20 billion to $5.50 billion. Analysts polled by Capital IQ expect adjusted earnings of $1.16 per diluted share on revenue of $5.78 billion.

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