Avnet, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 30, 2024
May 01, 2024 at 01:06 pm
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Avnet, Inc. reported earnings results for the third quarter and nine months ended March 30, 2024. For the third quarter, the company reported sales was USD 5,653.59 million compared to USD 6,514.62 million a year ago. Net income was USD 88.83 million compared to USD 187.43 million a year ago. Basic earnings per share from continuing operations was USD 0.98 compared to USD 2.05 a year ago. Diluted earnings per share from continuing operations was USD 0.97 compared to USD 2.03 a year ago.
For the nine months, sales was USD 18,194.15 million compared to USD 19,982.27 million a year ago. Net income was USD 416.03 million compared to USD 615.57 million a year ago. Basic earnings per share from continuing operations was USD 4.59 compared to USD 6.67 a year ago. Diluted earnings per share from continuing operations was USD 4.52 compared to USD 6.58 a year ago.
Avnet, Inc. is a global electronic component technology distributor and solutions provider. The Company markets, sells, and distributes electronic components from electronic component manufacturers, including semiconductors, interconnect, passive and electromechanical components, and other integrated and embedded components. Its primary operating groups include Electronic Components (EC) and Farnell. EC serves a variety of markets ranging from industrial to automotive to defense and aerospace. EC offers an array of customer support options throughout the entire product lifecycle, including turnkey and customized design, supply chain, new product introduction, programming, logistics and post-sales services. The Farnell operating group primarily supports lower-volume customers and distributes a portfolio of kits, tools, electronic components, industrial automation components, and test and measurement products to both engineers and entrepreneurs, primarily through an e-commerce channel.
AVNET, INC. 
