Avnet's Fiscal Q3 Adjusted Earnings, Revenue Fall; Fiscal Q4 Guidance Issued

MT Newswires Live

04-30

Avnet (AVT) reported fiscal Q3 adjusted earnings Wednesday of $0.84 per diluted share, down from $1.10 a year earlier.

Analysts polled by FactSet expected $0.73.

Revenue for the quarter ended March 31 was $5.32 billion, down from $5.65 billion a year earlier.

Analysts surveyed by FactSet expected $5.29 billion.

The company said it expects fiscal Q4 adjusted earnings of $0.65 to $0.75 per diluted share. Analysts surveyed by FactSet expect $0.89. The company expects revenue for the quarter of $5.15 billion to $5.45 billion. Analysts polled by FactSet expect $5.48 billion.

Avnet's shares were down more than 4% in recent premarket trading on Wednesday.

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