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Compared to Estimates, Avnet (AVT) Q2 Earnings: A Look at Key Metrics
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Avnet (AVT - Free Report) reported $6.2 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 7.6%. EPS of $1.40 for the same period compares to $2.00 a year ago.
The reported revenue represents a surprise of +0.86% over the Zacks Consensus Estimate of $6.15 billion. With the consensus EPS estimate being $1.39, the EPS surprise was +0.72%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Avnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Farnell: $392.80 million compared to the $398.96 million average estimate based on three analysts. The reported number represents a change of -3.7% year over year.
Sales- Electronic Components: $5.81 billion versus the three-analyst average estimate of $5.75 billion. The reported number represents a year-over-year change of -7.9%.
Operating Income (loss)- Electronic Components: $247.90 million compared to the $248.26 million average estimate based on three analysts.
Operating Income (loss)- Farnell: $15.70 million versus $20.01 million estimated by three analysts on average.
Operating Income (loss)- Corporate expenses: -$15.70 million versus the two-analyst average estimate of -$26.67 million.
Shares of Avnet have returned -2.7% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Avnet (AVT) Q2 Earnings: A Look at Key Metrics
Avnet (AVT - Free Report) reported $6.2 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 7.6%. EPS of $1.40 for the same period compares to $2.00 a year ago.
The reported revenue represents a surprise of +0.86% over the Zacks Consensus Estimate of $6.15 billion. With the consensus EPS estimate being $1.39, the EPS surprise was +0.72%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Avnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Farnell: $392.80 million compared to the $398.96 million average estimate based on three analysts. The reported number represents a change of -3.7% year over year.
- Sales- Electronic Components: $5.81 billion versus the three-analyst average estimate of $5.75 billion. The reported number represents a year-over-year change of -7.9%.
- Operating Income (loss)- Electronic Components: $247.90 million compared to the $248.26 million average estimate based on three analysts.
- Operating Income (loss)- Farnell: $15.70 million versus $20.01 million estimated by three analysts on average.
- Operating Income (loss)- Corporate expenses: -$15.70 million versus the two-analyst average estimate of -$26.67 million.
View all Key Company Metrics for Avnet here>>>Shares of Avnet have returned -2.7% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.