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Apr 03, 2021
Avnet Q3 2021 Earnings Report
Sales increased and EPS exceeded expectations due to broad end-market strength and the impact of the back-to-basics strategy.
Key Takeaways
Avnet reported strong third-quarter results, with sales exceeding guidance and operating margin expansion across all regions. Sales reached $4.9 billion, up 14% year over year, and diluted EPS was $1.07. The company's back-to-basics strategy resulted in strong execution and performance across all regions, with operating margins expanding for the third consecutive quarter.
Sales of $4.9 billion, up 14% year over year.
GAAP diluted earnings per share of $1.07, compared with a GAAP diluted loss per share of $1.29 in the prior year quarter.
Non-GAAP adjusted diluted earnings per share of $0.74, compared with $0.38 earnings per share in the prior year quarter.
GAAP operating margin was up 447 basis points to 1.8% compared with negative 2.7% in the prior year quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Avnet provided guidance for the fourth quarter of fiscal year 2021, expecting sales between $4.7 billion and $5.1 billion, with a midpoint of $4.9 billion, and non-GAAP diluted EPS between $0.71 and $0.77, with a midpoint of $0.74.
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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