Overview

* Avnet fiscal Q1 sales of $5.9 bln beat analyst expectations

* Adjusted EPS for fiscal Q1 beats consensus at $0.84

* Company repurchased $138 mln in shares, 3.2% of shares outstanding

Outlook

* Avnet expects Q2 fiscal 2026 sales between $5.85 bln and $6.15 bln

* Company projects Q2 adjusted diluted EPS of $0.90 to $1.00

* Avnet sees sequential sales growth in Americas and Asia, flat in Europe

Result Drivers

* FARNELL AND ASIA GROWTH - Double-digit year-over-year sales growth in Farnell and Asia led to better-than-expected sales and earnings, per CEO Phil Gallagher

* AMERICAS SALES GROWTH - Return to year-over-year sales growth in the Americas contributed to overall sales increase

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 Sales Beat $5.90 $5.73

bln bln (5

Analysts

)

Q1 Beat $0.84 $0.81 (4

Adjusted Analysts

EPS )

Q1 EPS $0.61

Q1 Net $51.74

Income mln

Q1 Gross $614.76

Profit mln

Q1 $142.03

Operatin mln

g Income

Q1 $76.80

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 3 "sell" or "strong sell"

* The average consensus recommendation for the electronic equipment & parts peer group is "buy."

* Wall Street's median 12-month price target for Avnet Inc ( AVT ) is $52.00, about 2.8% above its October 28 closing price of $50.54

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)