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Oct 02, 2021
Avnet Q1 2022 Earnings Report
Sales increased, with Electronic Components and Farnell achieving record sales and margin targets.
Key Takeaways
Avnet reported a strong first quarter for fiscal year 2022, with sales of $5.6 billion, up 18.2% year over year. Diluted EPS was $1.10, and adjusted diluted EPS was $1.22. Electronic Components and Farnell businesses both achieved record sales and reached their respective short-term operating margin targets.
Sales of $5.6 billion, up 18.2% year over year.
GAAP diluted earnings per share of $1.10.
Non-GAAP adjusted diluted earnings per share of $1.22.
Farnell operating margins increased sequentially to 10.9%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the second quarter of fiscal 2022, Avnet expects sales to be in the range of $5.3 billion to $5.7 billion, with adjusted diluted EPS of $1.20 to $1.30.
Positive Outlook
- Continued operating improvements.
- Strong market demand.
- Sales Guidance Range: $5.3B - $5.7B
- Midpoint Sales Guidance: $5.5B
- Adjusted Diluted EPS Guidance Range: $1.20 - $1.30
Challenges Ahead
- Guidance is based upon current market conditions and inventory availability.
- Reflects expected seasonality from the first fiscal quarter to the second fiscal quarter.
- Excludes amortization of intangibles.
- Excludes any potential restructuring, integration, and other expenses.
- Excludes certain income tax adjustments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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