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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%.
Avnet
Avnet
Avnet Revenue by Segment
Avnet Revenue by Geographic Location
Revenue by Segment
Electronic Components Revenue
CapyFin.comFarnell Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Revenue
CapyFin.com 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