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Avnet (AVT) to Report Q1 Earnings: Key Factors to Consider
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Avnet (AVT - Free Report) is slated to report its first-quarter fiscal 2023 results on Oct 26, after the market close.
The company's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 20.4%.
Avnet estimates fiscal first-quarter revenues in the range of $6.2-$6.5 billion (mid-point being $6.35 billion). The Zacks Consensus Estimate for the same is pegged at $6.35 billion, suggesting an increase of 13.7% from the year-ago quarter's reported figure.
This Phoenix, AZ-based tech company projects adjusted earnings in the band of $1.85-$1.95 per share (mid-point being $1.90). The consensus mark for the bottom line stands at $1.91 per share, indicating a 56.6% year-over-year surge.
Avnet's fiscal first-quarter results are likely to reflect high-margin expansion for its electronic components. Specifically, America and the EMEA are anticipated to have registered higher revenues, which typically generate high margins. This might have boosted its profitability in the to-be-reported quarter.
With critical updates in Farnell's e-commerce platform, Avnet might have witnessed continued engagement of existing customers and new customer acquisitions in the quarter to be reported. The company expects to witness solid demand across its Automotive, Transportation, Industrial and Aerospace & Defense segments.
The Zacks Consensus Estimate for the Electronic Component segment's revenues is pegged at $5.89 billion, suggesting an increase of 14.8% year over year. The consensus mark for the Premier Farnell division's sales stands at $464 million, indicating 2% year-over-year growth.
However, headwinds related to the Russia-Ukraine conflict, inflation and persistent disruption from supply-chain constraints might have weighed on the company's top and bottom-line performance in the quarter to be reported.
Earnings Whispers
Our proven model predicts an earnings beat for Avnet this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate ($1.91 per share) and the Zacks Consensus Estimate ($1.91 per share), is +0.26%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: AVT carries a Zacks Rank #3.
Other Stocks With a Favorable Combination
Per our model, Equinor (EQNR - Free Report) , Kimbell Royalty (KRP - Free Report) and Murphy USA (MUSA - Free Report) also have the right combination of elements to post an earnings beat in their upcoming releases.
Equinor has an Earnings ESP of +25.07% and sports a Zacks Rank #1. The company is anticipated to report its third-quarter 2022 results on Oct 26. Equinor’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 7.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EQNR’s third-quarter earnings is pegged at $1.78 per share, indicating a 109.4% surge from the year-ago quarter’s 85 cents per share. The consensus mark for revenues stands at $57.68 billion, suggesting a year-over-year increase of 147.9%.
Kimbell Royalty has an Earnings ESP of +21.88% and currently sports a Zacks Rank #1. The company is slated to report its third-quarter 2022 results on Nov 3. Kimbell’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters and missed on the other two occasions, the average surprise being 34.4%.
The Zacks Consensus Estimate for Kimbell’s third-quarter earnings stands at 32 cents per share, implying a year-over-year increase of 700%. KRP is estimated to report revenues of $67.8 million, which suggests a surge of 113.1% from the year-ago quarter.
Murphy has an Earnings ESP of +12.68% and carries a Zacks Rank #1 at present. The company is slated to report third-quarter 2022 results on Oct 26. Murphy’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 49%.
The Zacks Consensus Estimate for quarterly earnings is pegged at $7.82 per share, suggesting a year-over-year increase of 96.5%. MUSA’s quarterly revenues are estimated to increase 29.7% year over year to $5.96 billion.
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Avnet (AVT) to Report Q1 Earnings: Key Factors to Consider
Avnet (AVT - Free Report) is slated to report its first-quarter fiscal 2023 results on Oct 26, after the market close.
The company's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 20.4%.
Avnet estimates fiscal first-quarter revenues in the range of $6.2-$6.5 billion (mid-point being $6.35 billion). The Zacks Consensus Estimate for the same is pegged at $6.35 billion, suggesting an increase of 13.7% from the year-ago quarter's reported figure.
This Phoenix, AZ-based tech company projects adjusted earnings in the band of $1.85-$1.95 per share (mid-point being $1.90). The consensus mark for the bottom line stands at $1.91 per share, indicating a 56.6% year-over-year surge.
Avnet, Inc. Price and EPS Surprise
Avnet, Inc. price-eps-surprise | Avnet, Inc. Quote
Factors to Note
Avnet's fiscal first-quarter results are likely to reflect high-margin expansion for its electronic components. Specifically, America and the EMEA are anticipated to have registered higher revenues, which typically generate high margins. This might have boosted its profitability in the to-be-reported quarter.
With critical updates in Farnell's e-commerce platform, Avnet might have witnessed continued engagement of existing customers and new customer acquisitions in the quarter to be reported. The company expects to witness solid demand across its Automotive, Transportation, Industrial and Aerospace & Defense segments.
The Zacks Consensus Estimate for the Electronic Component segment's revenues is pegged at $5.89 billion, suggesting an increase of 14.8% year over year. The consensus mark for the Premier Farnell division's sales stands at $464 million, indicating 2% year-over-year growth.
However, headwinds related to the Russia-Ukraine conflict, inflation and persistent disruption from supply-chain constraints might have weighed on the company's top and bottom-line performance in the quarter to be reported.
Earnings Whispers
Our proven model predicts an earnings beat for Avnet this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate ($1.91 per share) and the Zacks Consensus Estimate ($1.91 per share), is +0.26%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: AVT carries a Zacks Rank #3.
Other Stocks With a Favorable Combination
Per our model, Equinor (EQNR - Free Report) , Kimbell Royalty (KRP - Free Report) and Murphy USA (MUSA - Free Report) also have the right combination of elements to post an earnings beat in their upcoming releases.
Equinor has an Earnings ESP of +25.07% and sports a Zacks Rank #1. The company is anticipated to report its third-quarter 2022 results on Oct 26. Equinor’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 7.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EQNR’s third-quarter earnings is pegged at $1.78 per share, indicating a 109.4% surge from the year-ago quarter’s 85 cents per share. The consensus mark for revenues stands at $57.68 billion, suggesting a year-over-year increase of 147.9%.
Kimbell Royalty has an Earnings ESP of +21.88% and currently sports a Zacks Rank #1. The company is slated to report its third-quarter 2022 results on Nov 3. Kimbell’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters and missed on the other two occasions, the average surprise being 34.4%.
The Zacks Consensus Estimate for Kimbell’s third-quarter earnings stands at 32 cents per share, implying a year-over-year increase of 700%. KRP is estimated to report revenues of $67.8 million, which suggests a surge of 113.1% from the year-ago quarter.
Murphy has an Earnings ESP of +12.68% and carries a Zacks Rank #1 at present. The company is slated to report third-quarter 2022 results on Oct 26. Murphy’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 49%.
The Zacks Consensus Estimate for quarterly earnings is pegged at $7.82 per share, suggesting a year-over-year increase of 96.5%. MUSA’s quarterly revenues are estimated to increase 29.7% year over year to $5.96 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.