Avnet, Inc. · NASDAQ:AVT
Avnet — Q4 2026 Earnings Presentation
15 slides from Avnet's earnings presentation, Aug 5, 2026
Slide 1: Avnet Fourth Quarter and Fiscal Year 2026 Financial Results
Avnet Fourth Quarter and Fiscal Year 2026 Financial Results August 5, 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: Q4 FY26 Highlights
Q4 FY26 Highlights Regional demand Growth in Asia, the Americas and EMEA Y/Y $8.3B Revenue +48% Y/Y End market demand All end markets increased double-digit Y/Y and Q/Q led by data center, networking, aerospace & defense, and industrial 2.8% 3.8% Operating Adjusted Margin Operating Lead times Ma
Slide 4: Revenue
Revenue $8.30B Y/Y growth Revenue(1) As Constant $7.12B ($M) reported currency $6.32B REGIONS $5.90B $5.62B Americas $2,061 55% 55% EMEA $2,299 44% 40% Asia $3,936 46% 47% OPERATING GROUPS Asia 49% 47% 48% 49% 50% Electronic Components $7,795 49% 49% Farnell $500 29% 28% Q4 Q1 Q2 Q3 Q4 AVNET $8,295
Slide 5: Q4 Income Statement
Q4 Income Statement SG&A Expenses $8.3B Sales as % of Gross Profit 76.0% 70.2% 63.3% 10.4% Gross margin $548M SG&A expenses – up 6% Q/Q on higher sales volumes SG&A expenses as a percentage of gross profit – 63.3% improved 691 bps Q/Q Q4 Q3 Q4 FY25 FY26 FY26 5
Slide 6: Q4 Adjusted Operating Income
(1) Q4 Adjusted Operating Income 3.8% $318M 3.1% 2.7% Adjusted operating income up 122% 2.5% 2.6% Y/Y and up 44% Q/Q $221M Sequential operating income grew more $172M than two and a half times sales $143M $151M 3.8% adjusted operating income margin – +129 bps Y/Y and +73 bps Q/Q Q4 Q1 Q2 Q3 Q4
Slide 7: Q4 Operating Income by Operating Group
Q4 Operating Income by Operating Group Electronic Components Farnell 4.1% 9.0% 3.5% $317M 3.2% 3.0% 2.9% $45M $235M 5.2% $187M 4.7% 4.3% 4.3% $157M $159M $24M $20M $17M $17M Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 FY25 FY26 FY26 FY26 FY26 FY25 FY26 FY26 FY26 FY26 7
Slide 8: Q4 Other Expenses & Adjusted Diluted EPS
(1) Q4 Other Expenses & Adjusted Diluted EPS Adjusted Diluted EPS (1) $2.28 $66M Interest expense up $8M Y/Y and $3M Q/Q $1.48 23.0% Adjusted effective tax rate (2) $0.81 $2.28 Adjusted diluted EPS (1) – up 182% Y/Y and up 54% Q/Q Q4 Q3 Q4 FY25 FY26 FY26 (1) Non-GAAP measure. See Appendices for Non-
Slide 9: Q4 Balance Sheet & Liquidity
Q4 Balance Sheet & Liquidity $6.1B Inventory – $607M increase Q/Q as reported Inventory Days 95 69 WC days – down 7 days Q/Q 77 71 19% Return on working capital(1) 3.2x Gross debt leverage $1.2B Available committed lines of credit Q4 Q3 Q4 FY25 FY26 FY26 $0.35 Dividend – returned $29M to shareholder
Slide 10: Guidance for Q1 FY27
Guidance for Q1 FY27 (ending October 3, 2026) Metric Guidance Range Midpoint Sales $9.00B – $9.30B $9.15B Adjusted Diluted EPS (1) $2.80 – $2.90 $2.85 Factors impacting our Q1 FY27 guidance Based on current market conditions Implies sequential sales growth of approximately 10% at the midpoint an
Slide 11: Non-GAAP Definitions
Non-GAAP Definitions In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also discloses certain non-GAAP financial information including (i) adjusted operating income, (ii) adjusted oth
Slide 12: Appendix: Reconciliation of Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarters Ended Fiscal Year June 27, March 28, December 27, September 27, 2026* 2026 2026 2025 2025 ($ in thousands, except per share amounts) GAAP operating income $ 724,782 $ 231,019 $ 205,535 $ 146,196 $ 142,032 Restructuring, integration, and
Slide 13: Appendix: Reconciliation of 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 Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Q4 FY26 ($ in thousands) Numerator Adjusted Operating Income $ 317,890 Annualized Adjusted Operating Income $ 1,271,560 Denominator Average Working Capital $ 6,618,409 Return on Working Capital (ROWC) 19.2% 14
Slide 15: Appendix: Reconciliation of 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 $ 2.80 $ 2.90 Restructuring, integration, and other expenses (net of tax) (0.23) (0.13) GAAP diluted earnings per share guidance $ 2.57 2.77 15