Avnet Reports Third Quarter 2025 Financial Results

About this update from Avnet, Inc.

Third quarter sales of $5.3 billion and diluted EPS of $1.01 Adjusted diluted EPS of $0.84 Cash flow from operations of $859 million over the past four quarters PHOENIX--(BUSINESS WIRE)-- Avnet, Inc. (Nasdaq: AVT) today announced results for its third quarter ended March 29, 2025. “We are pleased with our third quarter results, with revenue and earnings exceeding our expectations,” said Avnet Chief Executive Officer Phil Gallagher. “Our team continues to execute well in a highly dynamic geopolitical and market environment, and I want to thank them for their persistence during this prolonged and challenging cycle. Avnet’s proven history of helping our customers and suppliers adapt to market changes will serve us well as we continue to create value for our stakeholders.” Fiscal Third Quarter Key Financial Highlights: Sales of $5.3 billion, compared with $5.7 billion in the prior year quarter. Third consecutive quarter of year over year sales growth in Asia. Diluted earnings per share of $1.01, compared with $0.97 in the prior year quarter. Adjusted diluted earnings per share of $0.84, compared with $1.10 in the prior year quarter. Operating income margin of 2.7%, compared with 3.4% in the prior year quarter. Adjusted operating income margin of 2.9%, compared with 3.6% in the prior year quarter. Generated $141 million of cash flow from operations. Returned $101 million to shareholders from share repurchases, representing 2.3% of shares outstanding. Returned over $28 million to shareholders in dividends. Key Financial Metrics ($ in millions, except per share data) Third Quarter Results (GAAP) Mar – 25 Mar – 24 Change Y/Y Dec – 24 Change Q/Q Sales $ 5,315.4 $ 5,653.6 (6.0 )% $ 5,663.4 (6.1 )% Operating Income $ 143.3 $ 190.2 (24.7 )% $ 155.3 (7.8 )% Operating Income Margin 2.7 % 3.4 % (66 ) bps 2.7 % (4 ) bps Diluted Earnings Per Share (EPS) $ 1.01 $ 0.97 4.1 % $ 0.99 2.0 % Third Quarter Results (Non-GAAP)(1) Mar – 25 Mar – 24 Change Y/Y Dec – 24 Change Q/Q Adjusted Operating Income $ 152.7 $ 202.7 (24.7 )% $ 159.5 (4.2 )% Adjusted Operating Income Margin 2.9 % 3.6 % (72 ) bps 2.8 % 5 bps Adjusted Diluted Earnings Per Share (EPS) $ 0.84 $ 1.10 (23.6 )% $ 0.87 (3.4 )% Segment and Geographical Mix Mar – 25 Mar – 24 Change Y/Y Dec – 24 Change Q/Q Electronic Components (EC) Sales $ 4,948.7 $ 5,245.8 (5.7 )% $ 5,317.8 (6.9 )% EC Operating Income Margin 3.5 % 4.1 % (65 ) bps 3.4 % 6 bps Farnell Sales $ 366.7 $ 407.8 (10.1 )% $ 345.6 6.1 % Farnell Operating Income Margin 3.0 % 4.0 % (101 ) bps 1.0 % 198 bps Americas Sales $ 1,274.2 $ 1,403.4 (9.2 )% $ 1,368.8 (6.9 )% EMEA Sales $ 1,559.0 $ 2,053.1 (24.1 )% $ 1,582.8 (1.5 )% Asia Sales $ 2,482.2 $ 2,197.1 13.0 % $ 2,711.8 (8.5 )% ____________________ (1) A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in the “Non-GAAP Financial Information” section of this press release. Outlook for the Fourth Quarter of Fiscal 2025 Ending on June 28, 2025 Guidance Range Midpoint Sales $5.15B – $5.45B $5.30B Adjusted Diluted EPS (1) $0.65 – $0.75 $0.70 ____________________ (1) A reconciliation of non-GAAP guidance to GAAP guidance is presented in the “Non-GAAP Financial Information” section of this press release. The above guidance implies flat sequential sales at the midpoint and has the benefit of favorable foreign currency exchange rates primarily in EMEA. In constant currency this sales guidance assumes lower sales in EMEA and relatively flat sales in the Americas and Asia. The above guidance also excludes restructuring, integration and other expenses, foreign currency gains and losses, and certain income tax adjustments. The above guidance assumes similar interest expense to the third quarter of fiscal 2025 and an adjusted effective tax rate of between 21% and 25%. The above guidance assumes 86 million average diluted shares outstanding and average currency exchange rates as shown in the table below: Q4 Fiscal 2025 Q3 Fiscal Q4 Fiscal Guidance 2025 2024 Euro to U.S. Dollar $1.14 $1.05 $1.08 GBP to U.S. Dollar $1.34 $1.26 $1.26 Today’s Conference Call and Webcast Details Avnet will host a conference call and webcast today at 9:00 a.m. PT / Noon ET to discuss its financial results, provide a business update and answer questions. Live conference call: 877-407-8112 (domestic) or 201-689-8840 (international) Live webcast along with slides can be accessed via Avnet’s Investor Relations website at https://ir.avnet.com An audio replay of the webcast will be available after the completion of the call and archived on the website for one year Forward-Looking Statements 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 Company. You can find many of these statements by looking for words like “believes,” “projected,” “plans,” “expects,” “anticipates,” “should,” “will,” “may,” “estimates,” or similar expressions. These forward-looking statements are subject to numerous assumptions, risks, and uncertainties. The following important factors, in addition to those discussed elsewhere in the Company’s Annual Report on Form 10-K for the fiscal year ended June 29, 2024 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, could affect the Company’s future results of operations, and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: geopolitical events and military conflicts; pandemics and other health-related crises; competitive pressures among distributors of electronic components; an industry down-cycle in semiconductors; relationships with key suppliers and allocations of products by suppliers; accounts receivable defaults; risks relating to the Company’s international sales and operations, including risks relating to repatriating cash, foreign currency fluctuations, inflation, duties and taxes, tariffs, sanctions and trade restrictions, and compliance with international and U.S. laws; risks relating to acquisitions, divestitures, and investments; adverse effects on the Company’s supply chain, operations of its distribution centers, shipping costs, third-party service providers, customers, and suppliers, including as a result of issues caused by military conflicts, terrorist attacks, natural and weather-related disasters, pandemics and health related crises, warehouse modernization, and relocation efforts; risks related to cyber security attacks, other privacy and security incidents, and information systems failures, including related to current or future implementations, integrations, and upgrades; general economic and business conditions (domestic, foreign, and global) affecting the Company’s operations and financial performance and, indirectly, the Company’s credit ratings, debt covenant compliance, liquidity, and access to financing; constraints on employee retention and hiring; and legislative or regulatory changes. Any forward-looking statement speaks only as of the date on which that statement is made. Except as required by law, the Company assumes no obligation to update any forward-looking statement to reflect events or circumstances that occur after the date on which the statement is made. About Avnet As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for more than a century. Through regional and specialized businesses around the world, we support customers and suppliers at every stage of the product lifecycle. We help companies adapt to change and accelerate the design and supply stages of product development. With a unique viewpoint from the center of the technology value chain, Avnet is a trusted partner that solves complex design and supply chain issues so customers can realize revenue faster. Learn more about Avnet at www.avnet.com. (AVT_IR) AVNET, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Third Quarters Ended Nine Months Ended March 29, March 30, March 29, March 30, 2025 2024 2025 2024 (Thousands, except per share data) Sales $ 5,315,423 $ 5,653,591 $ 16,582,959 $ 18,194,153 Cost of sales 4,727,570 4,984,318 14,791,688 16,070,591 Gross profit 587,853 669,273 1,791,271 2,123,562 Selling, general and administrative expenses 435,492 467,275 1,311,214 1,419,253 Restructuring, integration, and other expenses 9,110 11,847 39,255 24,132 Operating income 143,251 190,151 440,802 680,177 Other expense, net (3,992 ) (14,707 ) (9,680 ) (17,144 ) Interest and other financing expenses, net (61,115 ) (73,496 ) (187,957 ) (218,593 ) Gain on legal settlements and other — — — 86,499 Income before taxes 78,144 101,948 243,165 530,939 Income tax (benefit) expense (9,775 ) 13,114 9,037 114,906 Net income $ 87,919 $ 88,834 $ 234,128 $ 416,033 Earnings per share: Basic $ 1.02 $ 0.98 $ 2.69 $ 4.59 Diluted $ 1.01 $ 0.97 $ 2.65 $ 4.52 Shares used to compute earnings per share: Basic 86,014 90,430 86,984 90,726 Diluted 86,876 91,256 88,198 92,075 Cash dividends paid per common share $ 0.33 $ 0.31 $ 0.99 $ 0.93 AVNET, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 29, June 29, 2025 2024 (Thousands) ASSETS Current assets: Cash and cash equivalents $ 188,912 $ 310,941 Receivables 4,095,480 4,391,187 Inventories 5,270,451 5,468,730 Prepaid and other current assets 240,512 199,694 Total current assets 9,795,355 10,370,552 Property, plant and equipment, net 578,744 568,169 Goodwill 795,066 780,984 Operating lease assets 179,254 208,971 Other assets 363,911 280,471 Total assets $ 11,712,330 $ 12,209,147 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt $ 144,542 $ 492,711 Accounts payable 3,319,033 3,345,510 Accrued expenses and other 495,270 573,055 Short-term operating lease liabilities 55,537 53,993 Total current liabilities 4,014,382 4,465,269 Long-term debt 2,494,387 2,406,629 Long-term operating lease liabilities 137,806 173,886 Other liabilities 180,788 237,859 Total liabilities 6,827,363 7,283,643 Shareholders’ equity 4,884,967 4,925,504 Total liabilities and shareholders’ equity $ 11,712,330 $ 12,209,147 AVNET, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Nine Months Ended March 29, March 30, 2025 2024 (Thousands) Cash flows from operating activities: Net income $ 234,128 $ 416,033 Non-cash and other reconciling items: Depreciation and amortization 53,307 64,151 Amortization of operating lease assets 39,963 40,181 Deferred income taxes (81,950 ) 12,895 Stock-based compensation 30,449 27,150 Other, net 26,710 7,932 Changes in (net of effects from businesses acquired and divested): Receivables 310,440 424,437 Inventories 217,568 (311,104 ) Accounts payable (8,785 ) (23,247 ) Accrued expenses and other, net (236,802 ) (242,698 ) Net cash flows provided by operating activities 585,028 415,730 Cash flows from financing activities: Borrowings (repayments) under accounts receivable securitization, net 84,900 (80,100 ) Repayments under senior unsecured credit facility, net (418,591 ) (49,057 ) Borrowings under bank credit facilities and other debt, net 63,432 22,884 Repurchases of common stock (253,490 ) (86,027 ) Dividends paid on common stock (85,645 ) (84,154 ) Other, net (4,297 ) (8,033 ) Net cash flows used for financing activities (613,691 ) (284,487 ) Cash flows from investing activities: Purchases of property, plant and equipment (87,874 ) (200,210 ) Other, net 10,353 629 Net cash flows used for investing activities (77,521 ) (199,581 ) Effect of currency exchange rate changes on cash and cash equivalents (15,845 ) (1,419 ) Cash and cash equivalents: — decrease (122,029 ) (69,757 ) — at beginning of period 310,941 288,230 — at end of period $ 188,912 $ 218,473 Non-GAAP Financial Information 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 other income (expense), (iii) adjusted income before income taxes, (iv) adjusted income tax expense (benefit), and (v) adjusted diluted earnings per share. There are also references to the impact of foreign currency in the discussion of the Company’s results of operations. When the U.S. Dollar strengthens and the stronger exchange rates of the current year are used to translate the results of operations of Avnet’s subsidiaries denominated in foreign currencies, the resulting impact is a decrease in U.S. Dollars of reported results. Conversely, when the U.S. Dollar weakens and the weaker exchange rates of the current year are used to translate the results of operations of Avnet’s subsidiaries denominated in foreign currencies, the resulting impact is an increase in U.S. Dollars of reported results. In the discussion of the Company’s results of operations, results excluding this impact are referred to as “constant currency.” Management believes sales in constant currency is a useful measure for evaluating current period performance as compared with prior periods and for understanding underlying trends. In order to determine the translation impact of changes in foreign currency exchange rates on sales, income or expense items for subsidiaries reporting in currencies other than the U.S. Dollar, the Company adjusts the average exchange rates used in current periods to be consistent with the average exchange rates in effect during the comparative period. Management believes that operating income adjusted for restructuring, integration and other expenses, and amortization of acquired intangible assets, is a useful measure to help investors better assess and understand the Company’s operating performance. This is especially the case when comparing results with previous periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of Avnet’s normal operating results or non-cash in nature. Management analyzes operating income without the impact of these items as an indicator of ongoing margin performance and underlying trends in the business. Management also uses these non-GAAP measures to establish operational goals and, in most cases, for measuring performance for compensation purposes. Management measures operating income for its reportable segments excluding restructuring, integration and other expenses, and amortization of acquired intangible assets and other. Management also believes income tax expense (benefit), net income and diluted earnings per share adjusted for the impact of the items described above, gain on legal settlements and other, foreign currency gains and losses and certain items impacting income tax expense (benefit) are useful to investors because they provide a measure of the Company’s net profitability on a more comparable basis to historical periods and provide a more meaningful basis for forecasting future performance. Adjustments to income tax expense (benefit) and the effective income tax rate include the effect of changes in tax laws, certain changes in valuation allowances and unrecognized tax benefits, income tax audit settlements and adjustments to the effective tax rate based upon the expected long-term adjusted effective tax rate. Additionally, because of management’s focus on generating shareholder value, of which net profitability is a primary driver, management believes net income and diluted earnings per share excluding the impact of these items provides an important measure of the Company’s net profitability for the investing public. Additional non-GAAP metrics management uses are adjusted operating income margin, which is defined as adjusted operating income divided by sales and the adjusted effective income tax rate, which is defined as adjusted income tax expense divided by adjusted income before income taxes. Any analysis of results and outlook on a non-GAAP basis should be used as a complement to, and in conjunction with, results presented in accordance with GAAP. Fiscal Quarters Ended Year to Date March 29, December 28, September 28, 2025* 2025 2024 2024 ($ in thousands, except per share amounts) GAAP operating income $ 440,802 $ 143,251 $ 155,327 $ 142,225 Restructuring, integration, and other expenses 39,255 9,110 3,794 26,351 Amortization of intangible assets 1,099 364 366 368 Adjusted operating income 481,156 152,725 159,487 168,944 GAAP other expense, net $ (9,680 ) $ (3,992 ) $ (2,645 ) $ (3,043 ) Foreign currency loss 16,820 6,933 5,104 4,783 Adjusted other income, net 7,140 2,941 2,459 1,740 GAAP income before income taxes $ 243,165 $ 78,144 $ 90,283 $ 74,738 Restructuring, integration, and other expenses 39,255 9,110 3,794 26,351 Amortization of intangible assets 1,099 364 366 368 Foreign currency loss 16,820 6,933 5,104 4,783 Adjusted income before income taxes 300,339 94,551 99,547 106,240 GAAP income tax expense (benefit) $ 9,037 $ (9,775 ) $ 3,030 $ 15,782 Restructuring, integration, and other expenses 10,274 2,475 1,142 6,657 Amortization of intangible assets 259 86 86 87 Foreign currency loss 5,004 1,762 1,630 1,612 Income tax expense items, net 44,504 27,199 17,007 298 Adjusted income tax expense 69,078 21,747 22,895 24,436 GAAP net income $ 234,128 $ 87,919 $ 87,253 $ 58,956 Restructuring, integration, and other expenses (net of tax) 28,981 6,635 2,652 19,694 Amortization of intangible assets (net of tax) 839 278 280 281 Foreign currency loss (net of tax) 11,816 5,171 3,474 3,171 Income tax expense items, net (44,504 ) (27,199 ) (17,007 ) (298 ) Adjusted net income 231,260 72,804 76,652 81,804 GAAP diluted earnings per share $ 2.65 $ 1.01 $ 0.99 $ 0.66 Restructuring, integration, and other expenses (net of tax) 0.33 0.08 0.03 0.22 Amortization of intangible assets (net of tax) 0.01 0.00 0.00 0.00 Foreign currency loss (net of tax) 0.13 0.06 0.04 0.04 Income tax expense items, net (0.50 ) (0.31 ) (0.19 ) (0.00 ) Adjusted diluted EPS 2.62 0.84 0.87 0.92 ____________________ * May not foot/cross foot due to rounding. Quarters Ended Fiscal Year June 29, March 30, December 30, September 30, 2024* 2024* 2024* 2023 2023 ($ in thousands, except per share amounts) GAAP operating income $ 844,367 $ 164,189 $ 190,151 $ 236,257 $ 253,769 Restructuring, integration, and other expenses 52,550 28,417 11,847 5,235 7,051 Amortization of intangible assets 3,130 828 712 712 878 Adjusted operating income 900,047 193,434 202,710 242,204 261,698 GAAP other (expense) income, net $ (15,736 ) $ 1,409 $ (14,707 ) $ (8,397 ) $ 5,960 Foreign currency loss (gain) and other, net 27,730 680 17,850 9,200 — Adjusted other (expense) income, net 11,994 2,089 3,143 803 5,960 GAAP income before income taxes $ 632,263 $ 101,324 $ 101,948 $ 153,558 $ 275,432 Restructuring, integration, and other expenses 52,550 28,417 11,847 5,235 7,051 Amortization of intangible assets 3,130 828 712 712 878 Foreign currency loss (gain) and other, net 27,730 680 17,850 9,200 — Gain on legal settlements and other (86,499 ) — — — (86,499 ) Adjusted income before income taxes 629,174 131,249 132,357 168,705 196,862 GAAP income tax expense $ 133,564 $ 18,659 $ 13,114 $ 35,627 $ 66,164 Restructuring, integration, and other expenses 13,000 7,251 2,772 1,274 1,703 Amortization of intangible assets 700 185 156 156 203 Foreign currency loss (gain) and other, net 7,373 88 5,251 2,034 — Gain on legal settlements and other (20,434 ) — — — (20,434 ) Income tax expense items, net 4,992 (6,489 ) 10,472 1,399 (390 ) Adjusted income tax expense 139,195 19,694 31,765 40,490 47,246 GAAP net income $ 498,699 $ 82,665 $ 88,834 $ 117,931 $ 209,268 Restructuring, integration, and other expenses (net of tax) 39,550 21,166 9,075 3,961 5,348 Amortization of intangible assets (net of tax) 2,430 643 556 556 675 Foreign currency loss (gain) and other, net (net of tax) 20,357 592 12,599 7,166 — Gain on legal settlements and other (net of tax) (66,065 ) — — — (66,065 ) Income tax expense items, net (4,992 ) 6,489 (10,472 ) (1,399 ) 390 Adjusted net income 489,979 111,555 100,592 128,215 149,616 GAAP diluted earnings per share $ 5.43 $ 0.91 $ 0.97 $ 1.28 $ 2.25 Restructuring, integration, and other expenses (net of tax) 0.43 0.23 0.10 0.04 0.06 Amortization of intangible assets (net of tax) 0.03 0.01 0.01 0.01 0.01 Foreign currency loss (gain) and other, net (net of tax) 0.22 0.01 0.14 0.08 — Gain on legal settlements and other (net of tax) (0.72 ) — — — (0.71 ) Income tax expense items, net (0.05 ) 0.07 (0.11 ) (0.01 ) 0.00 Adjusted diluted EPS 5.34 1.22 1.10 1.40 1.61 ____________________ * May not foot/cross foot due to rounding. Sales in Constant Currency The following table presents the percentage change in sales and the percentage change in sales in constant currency for the third quarter and first nine months of fiscal 2025 compared to the third quarter and first nine months of fiscal 2024. Quarter Ended Nine Months Ended March 29, 2025 March 29, 2025 Sales Sales Sales Year-Year % Sequential % Year-Year % Sales Change in Sales Change in Sales Change in Year-Year Constant Sequential Constant Year-Year Constant % Change Currency % Change Currency % Change Currency Avnet (6.0 )% (4.9 )% (6.1 )% (5.6 )% (8.9 )% (8.5 )% Avnet by region Americas (9.2 )% (9.2 )% (6.9 )% (6.9 )% (13.0 )% (13.0 )% EMEA (24.1 ) (21.8 ) (1.5 ) 0.1 (25.7 ) (25.2 ) Asia 13.0 13.4 (8.5 ) (8.3 ) 9.0 9.3 Avnet by segment EC (5.7 )% (4.6 )% (6.9 )% (6.4 )% (8.5 )% (8.2 )% Farnell (10.1 ) (8.5 ) 6.1 7.4 (13.3 ) (13.1 ) Historical Segment Financial Information Quarters Ended Fiscal Third Quarter Second Quarter First Quarter Year to Date March 29, December 28, September 28, 2025* 2025 2024 2024 ($ in millions) Sales: Electronic Components $ 15,523.6 $ 4,948.7 $ 5,317.8 $ 5,257.1 Farnell 1,059.4 366.7 345.6 347.1 Avnet sales $ 16,583.0 $ 5,315.4 $ 5,663.4 $ 5,604.2 Operating income: Electronic Components $ 551.2 $ 172.2 $ 181.6 $ 197.4 Farnell 16.3 11.0 3.5 1.9 567.5 183.2 185.1 199.3 Corporate expenses (86.3 ) (30.4 ) (25.6 ) (30.3 ) Restructuring, integration, and other expenses (39.3 ) (9.1 ) (3.8 ) (26.4 ) Amortization of acquired intangible assets (1.1 ) (0.4 ) (0.4 ) (0.4 ) Avnet operating income $ 440.8 $ 143.3 $ 155.3 $ 142.2 Sales by geographic area: Americas $ 3,972.9 $ 1,274.2 $ 1,368.8 $ 1,329.9 EMEA 4,810.0 1,559.0 1,582.8 1,668.2 Asia 7,800.1 2,482.2 2,711.8 2,606.1 Avnet sales $ 16,583.0 $ 5,315.4 $ 5,663.4 $ 5,604.2 ____________________ * May not foot/cross foot due to rounding. Quarters Ended Fiscal Fourth Quarter Third Quarter Second Quarter First Quarter Year June 29, March 30, December 30, September 30, 2024* 2024 2024 2023 2023 ($ in millions) Sales: Electronic Components $ 22,160.0 $ 5,187.8 $ 5,245.8 $ 5,812.1 $ 5,914.4 Farnell 1,597.1 375.2 407.8 392.8 421.2 Avnet sales $ 23,757.1 $ 5,563.0 $ 5,653.6 $ 6,204.9 $ 6,335.6 Operating income: Electronic Components $ 947.6 $ 210.1 $ 216.9 $ 247.9 $ 272.8 Farnell 64.8 15.1 16.3 15.7 17.7 1,012.4 225.2 233.2 263.6 290.5 Corporate expenses (112.3 ) (31.8 ) (30.5 ) (21.4 ) (28.7 ) Restructuring, integration, and other expenses (52.6 ) (28.4 ) (11.8 ) (5.2 ) (7.1 ) Amortization of acquired intangible assets (3.1 ) (0.8 ) (0.7 ) (0.7 ) (0.9 ) Avnet operating income $ 844.4 $ 164.2 $ 190.2 $ 236.3 $ 253.8 Sales by geographic area: Americas $ 5,919.2 $ 1,353.8 $ 1,403.4 $ 1,588.5 $ 1,573.5 EMEA 8,395.0 1,920.3 2,053.1 2,113.6 2,308.0 Asia 9,442.9 2,288.9 2,197.1 2,502.8 2,454.1 Avnet sales $ 23,757.1 $ 5,563.0 $ 5,653.6 $ 6,204.9 $ 6,335.6 ____________________ * May not foot/cross foot due to rounding. Guidance Reconciliation The following table presents the reconciliation of non-GAAP adjusted diluted earnings per share guidance to the expected GAAP diluted earnings per share guidance for the fourth quarter of fiscal 2025. Low End of High End of Guidance Range Guidance Range Adjusted diluted earnings per share guidance $ 0.65 $ 0.75 Restructuring, integration, and other expenses (net of tax) (0.18 ) (0.09 ) GAAP diluted earnings per share guidance $ 0.47 $ 0.66 View source version on businesswire.com: https://www.businesswire.com/news/home/20250430761167/en/ Investor Relations Contact [email protected] Media Relations Contact Jeanne Forbis, 480-643-7499 [email protected] Source: Avnet

View stock analysis, news, and events for Avnet, Inc.