Avnet, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended July 01, 2023
August 16, 2023 at 04:05 pm EDT
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Avnet, Inc. reported earnings results for the fourth quarter and full year ended July 01, 2023. For the fourth quarter, the company reported sales was USD 6,554.61 million compared to USD 6,372.65 million a year ago. Net income was USD 155.26 million compared to USD 246.82 million a year ago. Basic earnings per share from continuing operations was USD 1.7 compared to USD 2.54 a year ago. Diluted earnings per share from continuing operations was USD 1.68 compared to USD 2.51 a year ago.
For the full year, sales was USD 26,536.88 million compared to USD 24,310.71 million a year ago. Net income was USD 770.83 million compared to USD 692.38 million a year ago. Basic earnings per share from continuing operations was USD 8.37 compared to USD 7.02 a year ago. Diluted earnings per share from continuing operations was USD 8.26 compared to USD 6.94 a year ago.
Avnet, Inc. is a global electronic component technology distributor and solutions provider. The Company markets, sells, and distributes electronic components from electronic component manufacturers, including semiconductors, interconnect, passive and electromechanical components, and other integrated and embedded components. Its primary operating groups include Electronic Components (EC) and Farnell. EC serves a variety of markets ranging from industrial to automotive to defense and aerospace. EC offers an array of customer support options throughout the entire product lifecycle, including turnkey and customized design, supply chain, new product introduction, programming, logistics and post-sales services. The Farnell operating group primarily supports lower-volume customers and distributes a portfolio of kits, tools, electronic components, industrial automation components, and test and measurement products to both engineers and entrepreneurs, primarily through an e-commerce channel.
AVNET, INC. 
