Business
Avnet Reports Fourth Quarter and Fiscal 2026 Financial Results
Avnet Reports Fourth Quarter and Fiscal 2026 Financial
About this update from Avnet, Inc.
Avnet, Inc. (Nasdaq: AVT) today announced results for its fourth quarter and fiscal year 2026 ended June 27, 2026. “Our fourth quarter results underscore the strength of Avnet’s business model and the impact of our disciplined execution and long-term strategy. We delivered record sales while growing profitability at more than two and a half times the rate of sales growth, demonstrating the operating leverage in our business model. Momentum continues to build across all regions, end markets and customer segments, giving us increasing confidence in our competitive position,” said Avnet Chief Executive Officer Phil Gallagher. “As demand improves and mass market activity continues to accelerate, we are entering fiscal 2027 with great momentum. We are well positioned to capture growth opportunities, further expand earnings and generate attractive long-term returns for our shareholders.” Fiscal Fourth Quarter Key Financial Highlights: Record quarterly sales of $8.3 billion, an increase of 48% year over year and 17% sequentially. Sequential and year-over-year sales growth across all EC regions and Farnell. Diluted earnings per share of $1.49, compared with $0.07 in the prior year quarter. Adjusted diluted earnings per share of $2.28 increased 182% year over year. Adjusted diluted earnings per share grew 3.8 times greater than sales year over year. Operating income margin of 2.8% expanded 147 basis points year over year. Adjusted operating income margin of 3.8% expanded 129 basis points year over year. Adjusted operating income grew 2.6 times greater than sales. EC operating margin of 4.1%. Farnell operating margin of 9.0%. Inventory days declined by 6 days to 71 quarter over quarter. EC inventory days declined by 5 days to under 65 days. Farnell inventory days declined by 10 days to under 200 days. Returned $29 million to shareholders in dividends. Fiscal 2026 Key Financial Highlights: Sales of $27.6 billion, an increase of 25% year over year. Diluted earnings per share of $4.01, compared with $2.75 in the prior year. Adjusted diluted earnings per share of $5.67, an increase of 65% year over year. Adjusted diluted earnings per share grew more than 2.6 times sales. Operating income margin of 2.6%, compared with 2.3% in the prior year. Adjusted operating income margin of 3.1% expanded 31 basis points year over year. Inventory days of 81 decreased 18 days year over...