Slide 1: Avnet Second Quarter Fiscal Year 2026 Financial Results
Avnet Second Quarter Fiscal Year 2026 Financial Results January 28, 2026
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: Q2 FY26 Highlights
Q2 FY26 Highlights Regional demand $6.3B • Growth in Asia, the Americas and EMEA Y/Y Revenue +12% Y/Y End market demand • Most end markets increased Y/Y; industrial and aerospace 2.3% 2.7% & defense were relatively flat Operating Adjusted Margin Operating Margin (1) Lead times • Trending higher acro
Slide 4: Revenue
Revenue $6.32B Y/Y growth $5.90B Revenue(1) As Constant $5.66B $5.62B $5.32B ($M) reported currency REGIONS Americas $1,435 5% 5% EMEA $1,714 8% 1% Asia $3,170 17% 17% SEGMENTS Asia 49% 50% 47% 48% Electronic Components $5,892 11% 9% 48% Farnell $427 24% 20% Q2 Q3 Q4 Q1 Q2 AVNET $6,319 12% 10% FY25
Slide 5: Q2 Income Statement
Q2 Income Statement SG&A Expenses $6.3B Sales as % of Gross Profit 73.3% 75.6% 74.2% Gross margin – driven by sales mix shift to Asia 10.5% (50% of sales) SG&A expenses – up 6% Q/Q on higher sales volumes $492M and increased stock-based compensation expense SG&A expenses as a percentage of gross pro
Slide 6: Q2 Adjusted Operating Income
(1) Q2 Adjusted Operating Income 2.8% 2.9% 2.7% 2.5% 2.6% $172M $159M Adj Op Y/Y Adj Op Y/Y $153M $151M $143M (1) Income growth Margin growth (1) ($M) SEGMENTS Electronic Components $187 3% 3.2% -25 bps Farnell $ 20 475% 4.7% 367 bps Corporate Expenses ($35) - - - AVNET $172 8% 2.7% -10 bps Q2 Q3 Q4
Slide 7: Q2 Other Expenses & Adjusted Diluted EPS
(1) Q2 Other Expenses & Adjusted Diluted EPS Adjusted Diluted EPS (1) $61M Interest expense down $1M Y/Y and up $2M Q/Q $1.05 $0.87 $0.84 23.0% Adjusted effective tax rate (2) $1.05 Adjusted diluted EPS (1) – up 21% Y/Y and up 25% Q/Q Q2 Q1 Q2 FY25 FY26 FY26 (1) Non-GAAP measure. See Appendices for
Slide 8: Q2 Balance Sheet & Liquidity
Q2 Balance Sheet & Liquidity Diluted Shares Outstanding $5.3B Inventory – $126M decrease Q/Q as reported 88M 84M 83M 88 WC days – down 7 days Q/Q 3.9x Gross debt leverage $1.7B Available committed lines of credit $0.35 Dividend – returned $28M to shareholders Q2 Q1 Q2 FY25 FY26 FY26 8
Slide 9: Outlook for Q3 FY26
Outlook for Q3 FY26 (ending March 28, 2026) Metric Guidance Range Midpoint Sales $6.20B – $6.50B $6.35B Adjusted Diluted EPS (1) $1.20 – $1.30 $1.25 Factors impacting our Q3 FY26 outlook • Based on current market conditions • Implies sequential sales growth of 1% at the midpoint and assumes sales gr
Slide 10: Non-GAAP Definitions
Non-GAAP Definitions In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also discloses certain non-GAAP financial information including (i) adjusted operating income, (ii) adjusted oth
Slide 11: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Fiscal Quarters Ended Year to Date December 27, September 27, 2026* 2025 2025 ($ in thousands, except per share amounts) GAAP operating income $ 288,228 $ 146,196 $ 142,032 Restructuring, integration, and other expenses 33,462 25,171 8,291 Amorti
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 $ 1.20 $ 1.30 Restructuring, integration, and other expenses (net of tax) (0.25) (0.15) GAAP diluted earnings per share guidance $ 0.95 1.15 13