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Jul 02, 2022
Avnet Q4 2022 Earnings Report
Avnet's fourth quarter results for fiscal year 2022 were reported, featuring sales of $6.4 billion and an operating income margin of 4.5%.
Key Takeaways
Avnet reported strong Q4 results with sales of $6.4 billion, up 21.9% year-over-year, and a GAAP diluted EPS of $2.51, compared to $0.85 in the prior year quarter. The company's operating income margin was 4.5%.
Sales of $6.4 billion, up 21.9% year over year.
GAAP diluted earnings per share increased to $2.51, compared with $0.85 in the prior year quarter.
GAAP operating income margin of 4.5%, increased 221 basis points year over year.
Returned $102 million to shareholders in the quarter from share repurchases, representing 2.4% of outstanding shares.
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 first quarter of fiscal 2023, Avnet expects sales between $6.20B and $6.50B, with adjusted diluted EPS between $1.85 and $1.95.
Positive Outlook
- Implies a sequential growth rate range of down 1% to up 4% in constant currency
- Assumes a typical seasonal shift in sales to Asia from the western regions
- Excludes amortization of intangibles and certain income tax adjustments
- Assumes an effective tax rate of between 21% and 25%
- Assumes 96 million average diluted shares outstanding
Challenges Ahead
- Based upon current market conditions
- Includes a $100 million negative impact on sales at mid-point of guidance from the recent strengthening of the U.S. Dollar as compared to the fourth quarter
- Excludes amortization of intangibles
- 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