Back to top

Image: Bigstock

Here's What Key Metrics Tell Us About Avnet (AVT) Q3 Earnings

Read MoreHide Full Article

Avnet (AVT - Free Report) reported $6.51 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 0.4%. EPS of $2.00 for the same period compares to $2.15 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $6.27 billion, representing a surprise of +3.87%. The company delivered an EPS surprise of +12.36%, with the consensus EPS estimate being $1.78.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Avnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Premier Farnell: $455 million versus $408.81 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3% change.
  • Net Sales- Electronic Components: $6.06 billion compared to the $5.86 billion average estimate based on four analysts. The reported number represents a change of +0.7% year over year.
  • Operating Income (loss)- Electronic Components: $305.20 million versus $260.55 million estimated by four analysts on average.
  • Operating Income (loss)- Premier Farnell: $40.90 million versus $39.03 million estimated by four analysts on average.
  • Operating Income (loss)- Corporate: -$31.60 million compared to the -$29.67 million average estimate based on three analysts.
View all Key Company Metrics for Avnet here>>>

Shares of Avnet have returned -7.3% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Avnet, Inc. (AVT) - free report >>

Published in