Loading...
•
Apr 02, 2022
Avnet Q3 2022 Earnings Report
Reported strong sales and operating margin growth.
Key Takeaways
Avnet reported a strong third quarter with sales of $6.5 billion, up 32% year over year. Diluted EPS was $1.84, and adjusted diluted EPS was $2.15. Farnell achieved record operating margin, and the Americas expanded operating margins for the fifth consecutive quarter.
Sales of $6.5 billion, up 32% year over year and 11% sequentially.
GAAP diluted earnings per share of $1.84, compared with $1.07 in the prior year quarter.
Non-GAAP adjusted diluted earnings per share of $2.15, compared with $0.74 in the prior year quarter.
Farnell operating margins increased 123 basis points sequentially to 14.9%.
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 fourth quarter of fiscal 2022, Avnet expects sales between $6.0B and $6.4B, with an adjusted diluted EPS between $1.90 and $2.00.
Positive Outlook
- Favorable demand environment
- Sustain strong margins from recently implemented operating improvements
- Based upon current market conditions and inventory availability
- Based on the current state of COVID restrictions
- Based on geopolitical events
Challenges Ahead
- Excludes amortization of intangibles
- Excludes the possibility of increased COVID restrictions
- Excludes any additional expense associated with the Russian-Ukraine conflict
- Excludes certain income tax adjustments
- Assumes an effective tax rate of between 21% and 25%
Revenue & Expenses
Visualization of income flow from segment revenue to net income