Slide 1: Avnet First Quarter Fiscal Year 2026 Financial Results
Avnet First Quarter Fiscal Year 2026 Financial Results October 29, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement 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
Slide 3: Q1 FY26 Highlights
Q1 FY26 Highlights Regional demand $5.9B • Growth in Asia and the Americas, EMEA flat Y/Y Revenue +5% Y/Y End market demand • Communication and transportation increased Y/Y 2.4% 2.6% Operating Adjusted Margin Operating Lead times Margin (1) • Lead times generally stable Book-to-bill $0.61 $0.84 • Mo
Slide 4: Revenue
Revenue $5.90B Y/Y growth $5.60B $5.66B $5.62B $5.32B Revenue(1) As Constant ($M) reported currency REGIONS Americas $1,370 3% 3% EMEA $1,666 - (6%) Asia $2,863 10% 10% SEGMENTS Asia 48% 48% 49% 47% 47% Electronic Components $5,500 5% 3% Farnell $399 15% 12% Q1 Q2 Q3 Q4 Q1 AVNET $5,899 5% 4% FY25 FY
Slide 5: Q1 Income Statement
Q1 Income Statement SG&A Expenses $5.9B Sales as % of Gross Profit 75.6% 72.2% 10.4% Gross margin – driven by customer and product mix $464M SG&A expenses – up 6% Y/Y and up 3% Q/Q 75.6% SG&A expenses as a percentage of gross profit Q1 Q1 FY25 FY26 5
Slide 6: Q1 Adjusted Operating Income
(1) Q1 Adjusted Operating Income 3.0% 2.8% 2.9% 2.5% 2.6% $169M $159M Adj Op Y/Y Adj Op Y/Y $153M $151M $143M Income growth Margin growth (1) (1) ($M) SEGMENTS Electronic Components $159 -19% 2.9% -86 bps Farnell $ 17 820% 4.3% 375 bps Corporate Expenses ($25) - - - AVNET $151 -11% 2.6% -46 bps Q1 Q
Slide 7: Q1 Other Expenses & Adjusted Diluted EPS
(1) Q1 Other Expenses & Adjusted Diluted EPS Adjusted Diluted EPS (1) $60M Interest expense down $5M Y/Y and up $1M Q/Q $0.92 $0.84 23.0% Adjusted effective tax rate (2) $0.84 Adjusted diluted EPS (1) – down 9% Y/Y and up 4% Q/Q Q1 Q1 FY25 FY26 (1) Non-GAAP measure. See Appendices for Non-GAAP Defin
Slide 8: Q1 Balance Sheet & Liquidity
Q1 Balance Sheet & Liquidity $5.4B Inventory – $185M increase Q/Q as reported Diluted Shares Outstanding 89M 95 WC days – down 4 days Q/Q 84M 4.0x Gross debt leverage $1.7B Available committed lines of credit $138M Share repurchases $0.35 Dividend – returned $28M to shareholders Q1 Q1 FY25 FY26 8
Slide 9: Outlook for Q2 FY26
Outlook for Q2 FY26 (ending December 27, 2025) Metric Guidance Range Midpoint Sales $5.85B – $6.15B $6.00B Adjusted Diluted EPS (1) $0.90 – $1.00 $0.95 Factors impacting our Q2 FY26 outlook • Based on current market conditions • Implies sequential sales growth of 2% at the midpoint and assumes sales
Slide 10: Non-GAAP Definitions
Non-GAAP Definitions In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also discloses certain non-GAAP financial information including (i) adjusted operating income, (ii) adjusted oth
Slide 11: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter Ended September 27, 2025 ($ in thousands, except per share amounts) GAAP operating income $ 142,032 Restructuring, integration, and other expenses 8,291 Amortization of intangible assets 364 Adjusted operating income 150,687 GAAP other ex
Slide 12: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarters Ended Fiscal Year June 28, March 29, December 28, September 28, 2025* 2025 2025 2024 2024 ($ in thousands, except per share amounts) GAAP operating income $ 514,254 $ 73,452 $ 143,251 $ 155,327 $ 142,225 Restructuring, integration, and o
Slide 13: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Low End of High End of Guidance Range Guidance Range Adjusted diluted earnings per share guidance $ 0.90 $ 1.00 Restructuring, integration, and other expenses (net of tax) (0.16) (0.08) GAAP diluted earnings per share guidance $ 0.74 0.92 13