Business
Avnet Announces Preliminary Results for Fourth Quarter Fiscal Year 2021
Sales and Adjusted Earnings Expected to Exceed Prior Guidance GAAP EPS Expected to be $0.72 to $0.78 and Adjusted EPS $1.01 to $1.05 Company Plans to Report
About this update from Avnet, Inc.
[{"type":"text","content":"\nSales and Adjusted Earnings Expected to Exceed Prior Guidance\n\nGAAP EPS Expected to be $0.72 to $0.78 and Adjusted EPS $1.01 to $1.05\n\nCompany Plans to Report Fourth Quarter and Fiscal Year 2021 Results on August 11\n\n PHOENIX--(BUSINESS WIRE)--\nAvnet, Inc. (Nasdaq: AVT) today announced preliminary, unaudited results for fourth quarter sales, operating margins, and earnings per share. Sales and earnings per share will exceed the high end of previous guidance.\n\nCommenting on today’s announcement, Avnet Chief Executive Officer Phil Gallagher stated, “Strong quarter-over-quarter sales growth in EMEA, Asia and Farnell, and continued operating improvement in the Americas, all contributed to better-than-expected results. Avnet’s role at the center of the technology supply chain is now more vital than ever and our focus on maintaining trusted relationships with our customers and suppliers is driving this robust financial performance.”\n\nPreliminary fourth quarter results:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nUnaudited, Preliminary Fourth Quarter Results\n\n\n\n\n\n \n\n\n\n \n\n\n\nJun – 21\n\n\n\n \n\n\n\nChange Y/Y\n\n\n\n \n\n\n\nChange Q/Q\n\n\n\n \n\n\n\nPrior Guidance\n\n\n\n\n\nSales\n\n\n\n \n\n\n\n \n\n\n\n$ 5.2B\n\n\n\n \n\n\n\n \n\n\n\n25.7\n\n\n\n%\n\n\n\n \n\n\n\n6.3\n\n\n\n%\n\n\n\n \n\n\n\n$ 4.7B – 5.1B\n\n\n\n\n\nGAAP Operating Income Margin\n\n\n\n \n\n\n\n \n\n\n\n2.3\n\n\n\n%\n\n\n\n \n\n\n\n221\n\n\n\nbps\n\n\n\n \n\n\n\n48\n\n\n\nbps\n\n\n\n \n\n\n\n—\n\n\n\n\n\nAdjusted Operating Income Margin(1)\n\n\n\n \n\n\n\n \n\n\n\n2.9\n\n\n\n%\n\n\n\n \n\n\n\n188\n\n\n\nbps\n\n\n\n \n\n\n\n66\n\n\n\nbps\n\n\n\n \n\n\n\n—\n\n\n\n\n\nElectronic Components Operating Income Margin\n\n\n\n \n\n\n\n \n\n\n\n3.1\n\n\n\n%\n\n\n\n \n\n\n\n157\n\n\n\nbps\n\n\n\n \n\n\n\n47\n\n\n\nbps\n\n\n\n \n\n\n\n—\n\n\n\n\n\nFarnell Operating Income Margin\n\n\n\n \n\n\n\n \n\n\n\n8.3\n\n\n\n%\n\n\n\n \n\n\n\n468\n\n\n\nbps\n\n\n\n \n\n\n\n223\n\n\n\nbps\n\n\n\n \n\n\n\n—\n\n\n\n\n\nGAAP Diluted Earnings Per Share\n\n\n\n \n\n\n\n \n\n\n\n$ 0.72 – 0.78\n\n\n\n \n\n\n\n \n\n\n\n35.8 – 47.2\n\n\n\n%\n\n\n\n \n\n\n\n(27.1) – (32.7)\n\n\n\n%\n\n\n\n \n\n\n\n—\n\n\n\n\n\nAdjusted Diluted Earnings Per Share(1)\n\n\n\n \n\n\n\n \n\n\n\n$ 1.01 – 1.05\n\n...