Avnet Inc

Latest Results (21.11.2025):

Avnet, Inc. — fiscal third quarter 2025: Revenue of $5.3 billion and GAAP diluted EPS of $1.01 (adjusted diluted EPS $0.84), with mixed results across regions as the company provided guidance for fiscal Q4 2025. Sales were down year‑over‑year, Asia showed continuing growth, and management signaled flat sequential sales at the Q4 midpoint with FX tailwinds.

Top‑line and year/year trends

Sales were $5.315 billion in Q3 FY2025, down 6.0% year over year (from $5.654B) and down 6.1% sequentially. Avnet reported its third consecutive quarter of year‑over‑year sales growth in Asia (+13.0% YoY), while EMEA fell sharply (-24.1% YoY) and the Americas declined (-9.2% YoY).

Profitability and margins

GAAP operating income was $143.3 million (operating margin 2.7%), down 24.7% YoY from $190.2M (3.4% margin). Adjusted operating income was $152.7 million (adjusted margin 2.9%), also down ~24.7% YoY from $202.7M (3.6% adjusted margin).

Earnings per share

GAAP diluted EPS was $1.01, up 4.1% from $0.97 a year earlier. Adjusted diluted EPS was $0.84, down 23.6% from $1.10 in Q3 FY2024.

Cash flow and shareholder returns

Avnet generated $141 million of cash flow from operations in the quarter and reported $859 million of operating cash flow over the past four quarters. The company repurchased $101 million of shares (~2.3% of shares outstanding) and paid over $28 million in dividends during the quarter.

Segment performance

Electronic Components sales were $4.949 billion (down 5.7% YoY) with an EC operating margin of 3.5%. Farnell sales were $366.7 million (down 10.1% YoY) with a Farnell operating margin of 3.0%.

Q4 fiscal 2025 guidance

Guidance for Q4 ending June 28, 2025: sales $5.15B–$5.45B (midpoint $5.30B, implying flat sequential sales at midpoint) and adjusted diluted EPS $0.65–$0.75 (midpoint $0.70). Company notes FX benefit primarily in EMEA; on a constant‑currency basis guidance assumes lower EMEA sales and relatively flat Americas and Asia.

Other guidance assumptions

Q4 guidance excludes certain items (restructuring, integration, FX gains/losses, some tax adjustments), assumes similar interest expense to Q3, an adjusted effective tax rate of 21%–25%, and ~86 million weighted average diluted shares outstanding. Summarized from source with an LLMView Source