Avnet ( (AVT) ) has realeased its Q1 earnings. Here is a breakdown of the information Avnet presented to its investors.
Avnet Inc., a global technology distributor and solutions provider, operates at the heart of the technology value chain, supporting customers through all stages of product development. In its latest earnings report for the first quarter of fiscal year 2025, Avnet reported sales of $5.6 billion with a diluted earnings per share (EPS) of $0.66 and an adjusted diluted EPS of $0.92. Despite a decline in year-over-year sales and earnings compared to the previous year, the company saw a return to growth in its Asia region, which helped it exceed the upper end of its guidance range. Key financial metrics from this quarter indicated a sales decrease of 11.6% year-over-year, with operating income dropping by 44% and a decrease in operating margins. Despite these challenges, Avnet generated $106 million in cash flow from operations and returned approximately $129 million to shareholders through share repurchases and dividends. Looking forward, Avnet remains focused on improving the performance and profitability of its Farnell business while capitalizing on growth opportunities as market conditions stabilize.
