Recap: Avnet Q3 Earnings

Shares of Avnet AVT decreased in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 94.74% year over year to $0.74, which beat the estimate of $0.56.

Revenue of $4,917,000,000 higher by 14.08% from the same period last year, which beat the estimate of $4,590,000,000.

Looking Ahead

Q4 EPS expected between $0.71 and $0.77.

Q4 revenue expected between $4,700,000,000 and $5,100,000,000.

Details Of The Call

Date: Apr 28, 2021

Time: 04:30 PM

ET Webcast URL: https://www.veracast.com/webcasts/avt/earnings/Tt48iO.cfm

Technicals

52-week high: $44.92

52-week low: $24.30

Price action over last quarter: Up 21.72%

Company Overview

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.