08:57 AM EDT, 10/30/2024 (MT Newswires) -- Avnet (AVT) reported fiscal Q1 adjusted earnings Wednesday of $0.92 per diluted share, down from $1.61 a year earlier.

Analysts polled by Capital IQ expected $0.85.

Sales for the quarter ended Sept. 28 were $5.6 billion, down from $6.34 billion a year earlier.

Analysts surveyed by Capital IQ expected $5.43 billion.

The technology company said it expects fiscal Q2 adjusted diluted EPS of $0.80 to $0.90. Analysts surveyed by Capital IQ expect $1.02.

Avnet said it expects fiscal Q2 sales of $5.4 billion to $5.7 billion. Analysts polled by Capital IQ expect $5.5 billion.