Slide 1: Avnet Fiscal Third Quarter 2022 Financial Results
Avnet Fiscal Third Quarter 2022 Financial Results April 27, 2022
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: Executive Overview
Executive Overview Phil Gallagher Chief Executive Officer
Slide 4: CFO Quarter Highlights
CFO Quarter Highlights Tom Liguori Chief Financial Officer
Slide 5: Revenue & EPS
Revenue & EPS Revenue and earnings growth driven by robust sales across all regions and continued market strength Total Revenues ($M) Adjusted Diluted EPS (1) $2.15 $6,488 $5,585 $5,865 $5,227 $4,917 $1.51 $1.22 $1.12 $0.74 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY21 FY21 FY22 FY22 FY22 FY21 FY21 FY22 FY22 F
Slide 6: Farnell
Farnell Investments enhancing Farnell’s value proposition and bolstering financial performance • Revenues of $469M, up 18.4% YoY and 6.4% QoQ Farnell Margin Improvement • Operating margin of 14.9%, up 886 bps YoY and 123 bps QoQ 14.9% 13.7% • Sustainable operating margins driven by: 10.9% • Enhancem
Slide 7: Electronic Components
Electronic Components Expanded supply chain orchestration engagements supporting steady growth • Revenues of $6.0B, up 33.2% YoY and 11.0% QoQ, driven by: EC Margin Improvement • Increased demand creation and IP&E revenue 4.4% • New and expanded supply chain orchestration engagements in the Americas
Slide 8: Avnet Operating Margin Growth
Avnet Operating Margin Growth 7th consecutive quarter of adjusted operating margin improvement • Growth supported by increased resiliency and strength from: Adjusted Operating Margin Improvement (1) • Enhanced focus on Avnet’s distribution capabilities 4.7% • Wide breath of suppliers that differenti
Slide 9: Liquidity & Balance Sheet
Liquidity & Balance Sheet Capital deployment suited to demand environment • Cash flow from operations $244 million in the quarter • Days working capital decreased to 67 from 70 days in the $199M $1.6B prior quarter. cash available lines balance of credit • Current inventory levels position us to mee
Slide 10: Shareholder Commitment
Shareholder Commitment Maintained commitment to increasing shareholder value through delivering a reliable, increasing dividend and continued share repurchases Increasing our Dividend Payout $0.26 $0.24 $0.24 $0.22 $0.21 Q3 Q4 Q1 Q2 Q3 FY21 FY21 FY22 FY22 FY22 10
Slide 11: Outlook for Q4 FY 2022
Outlook for Q4 FY 2022 (ending on July 2, 2022) Metric Guidance Range Midpoint Sales $6.0B – $6.4B $6.2B Non-GAAP Adjusted Diluted EPS (1) $1.90 – $2.00 $1.95 Factors impacting • Based on current market conditions, including ongoing strong demand our Q4 FY 2022 and pricing, and the current state of
Slide 12: Q&A Session
/ Q&A Session
Slide 13: Thank You
/ Thank You
Slide 14: 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 ope