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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.
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
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