Avnet Inc

Latest Results (05.04.2026):

Avnet Inc — Second Quarter of Fiscal 2026: Avnet reported strong top‑line and adjusted earnings beats for Q2 FY2026, with total sales of $6.319 billion (up 11.6% year‑over‑year and 7.1% sequentially) and record Asia revenues. The company exceeded the high end of its sales and adjusted EPS guidance, delivered adjusted diluted EPS of $1.05 (GAAP diluted EPS $0.75), generated operating cash flow, and materially reduced inventory and days of inventory.

Overall results

Sales: $6,318.955 million in Q2 FY2026 (+11.6% Y/Y; +7.1% Q/Q). GAAP operating income was $146.2 million (2.3% margin); adjusted operating income was $171.7 million (2.7% margin).

Profitability & earnings

GAAP diluted EPS: $0.75. Adjusted diluted EPS: $1.05 (up 20.7% Y/Y and ~25.0% sequentially). Management notes adjusted operating income grew roughly two times faster than sales sequentially.

Segment performance

Electronic Components (EC): $5,891.9 million sales (+10.8% Y/Y), EC operating margin 3.2% (days of inventory in EC below 80 days). Farnell: $427.1 million sales (+23.6% Y/Y) with operating margin improving to 4.7% (from 1.0% prior year).

Geographic highlights

Asia: $3,169.7 million (+16.9% Y/Y; record quarterly revenue). EMEA: $1,714.0 million (+8.3% Y/Y). Americas: $1,435.3 million (+4.9% Y/Y).

Cash, balance sheet & capital returns

Generated $208 million of operating cash flow in the quarter. Returned $28 million to shareholders in dividends, reduced inventories by $126 million, and lowered days of inventory to 86 days. Q2 GAAP net income was $61.7 million.

Outlook

Q3 FY2026 guidance: adjusted diluted EPS $1.20–$1.30 (GAAP diluted EPS guidance $0.95–$1.15) and midpoint implying about 1% sequential sales growth. Guidance assumptions include ~83 million diluted shares and an adjusted effective tax rate of 21–25%.