Recap: Avnet Q2 Earnings

Shares of Avnet AVT decreased in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 20.00% over the past year to $0.48, which beat the estimate of $0.39.

Revenue of $4,668,000,000 rose by 2.93% year over year, which beat the estimate of $4,270,000,000.

Guidance

Q3 EPS expected between $0.52 and $0.58.

Q3 revenue expected to be between $4,300,000,000 and $4,700,000,000.

Conference Call Details

Date: Jan 27, 2021

Time: 04:30 PM

ET Webcast URL: https://veracast.com/webcasts/avt/earnings/1031009385.cfm

Recent Stock Performance

52-week high: $42.89

Company's 52-week low was at $17.85

Price action over last quarter: Up 52.88%

Company Profile

Avnet is a leading value-added distributor of electronic components. The company's customer base is composed of original equipment manufacturers, or OEMs, electronic manufacturing services, or EMS, providers and original design manufacturers, or ODMs. The firm operates in two groups--electronic components and Farnell, the latter of which was acquired by Avnet in October 2016.