Slide 1: Avnet Third Quarter Fiscal Year 2026 Financial Results
Avnet Third Quarter Fiscal Year 2026 Financial Results April 29, 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: Q3 FY26 Highlights
Q3 FY26 Highlights Regional demand • Growth in Asia, the Americas and EMEA Y/Y $7.1B Revenue +34% Y/Y End market demand • All end markets increased Y/Y and Q/Q; industrial, networking, and data center increased double-digit Q/Q 2.9% 3.1% Operating Adjusted Lead times Margin Operating • Trending high
Slide 4: Revenue
Revenue $7.12B Y/Y growth $6.32B Revenue(1) As Constant $5.90B ($M) reported currency $5.62B $5.32B REGIONS Americas $1,615 27% 27% EMEA $2,046 31% 19% Asia $3,459 39% 39% OPERATING GROUPS 50% 49% Asia 48% 49% Electronic Components $6,665 35% 31% 47% Farnell $455 24% 18% Q3 Q4 Q1 Q2 Q3 AVNET $7,120
Slide 5: Q3 Income Statement
Q3 Income Statement SG&A Expenses $7.1B Sales as % of Gross Profit 74.1% 74.2% 70.2% 10.4% Gross margin SG&A expenses – up 6% Q/Q on higher sales volumes $519M and to a lesser extent, the impact of FX rates SG&A expenses as a percentage of gross profit – 70.2% improved 400 bps Q/Q Q3 Q2 Q3 FY25 FY26
Slide 6: Q3 Adjusted Operating Income
(1) Q3 Adjusted Operating Income 3.1% 2.9% 2.7% $221M 2.5% 2.6% • Adjusted operating income up 45% Y/Y $172M and up 29% Q/Q $153M $151M $143M • Sequential operating income grew more than two times sales • 3.1% adjusted operating income margin – +23 bps Y/Y and +38 bps Q/Q Q3 Q4 Q1 Q2 Q3 FY25 FY25 FY
Slide 7: Q3 Operating Income by Operating Group
Q3 Operating Income by Operating Group Electronic Components Farnell 5.2% 3.5% 3.5% 4.7% 3.2% 3.0% $235M 4.3% 4.3% 2.9% $187M $172M 3.0% $157M $159M $24M $20M $17M $17M $11M Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY25 FY25 FY26 FY26 FY26 FY25 FY25 FY26 FY26 FY26 7
Slide 8: Q3 Other Expenses & Adjusted Diluted EPS
(1) Q3 Other Expenses & Adjusted Diluted EPS Adjusted Diluted EPS (1) $1.48 $63M Interest expense up $2M Y/Y and Q/Q $1.05 $0.84 23.0% Adjusted effective tax rate (2) $1.48 Adjusted diluted EPS (1) – up 76% Y/Y and up 41% Q/Q Q3 Q2 Q3 FY25 FY26 FY26 (1) Non-GAAP measure. See Appendices for Non-GAAP
Slide 9: Q3 Balance Sheet & Liquidity
Q3 Balance Sheet & Liquidity $5.5B Inventory – $168M increase Q/Q as reported Inventory Days 101 76 WC days – down 11 days Q/Q 86 77 3.6x Gross debt leverage $1.7B Available committed lines of credit $0.35 Dividend – returned $29M to shareholders Q3 Q2 Q3 FY25 FY26 FY26 83M Diluted shares outstandin
Slide 10: Outlook for Q4 FY26
Outlook for Q4 FY26 (ending June 27, 2026) Metric Guidance Range Midpoint Sales $7.30B – $7.60B $7.45B Adjusted Diluted EPS (1) $1.70 – $1.80 $1.75 Factors impacting our Q4 FY26 outlook • Based on current market conditions • Implies sequential sales growth of approximately 5% at the midpoint and ass
Slide 11: Non-GAAP Definitions
Non-GAAP Definitions In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also discloses certain non-GAAP financial information including (i) adjusted operating income, (ii) adjusted oth
Slide 12: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Fiscal Quarters Ended Year to Date March 28, December 27, September 27, 2026* 2026 2025 2025 ($ in thousands, except per share amounts) GAAP operating income $ 493,763 $ 205,535 $ 146,196 $ 142,032 Restructuring, integration, and other expenses 4
Slide 13: 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 14: 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 $ 1.70 $ 1.80 Restructuring, integration, and other expenses (net of tax) (0.50) (0.35) GAAP diluted earnings per share guidance $ 1.20 1.45 14