Avnet Q4 Adj EPS $2.06 Beats $1.65 Estimate, Sales $6.55B Beat $6.27B Estimate
Portfolio Pulse from Benzinga Newsdesk
Avnet (NASDAQ:AVT) reported Q4 adjusted earnings of $2.06 per share, beating the analyst consensus estimate of $1.65 by 24.85%. However, this is a 0.48% decrease from the same period last year. The company also reported quarterly sales of $6.55 billion, surpassing the analyst consensus estimate of $6.27 billion by 4.55%, and marking a 2.86% increase from the same period last year.
August 16, 2023 | 8:16 pm
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POSITIVE IMPACT
Avnet's Q4 earnings and sales exceeded analyst estimates, which could potentially boost investor confidence. However, the slight decrease in earnings compared to last year might temper this optimism.
Positive earnings reports generally lead to an increase in stock price as they indicate a company's good financial health. However, the slight decrease in earnings compared to last year might be a cause for concern for some investors, potentially limiting the stock's gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100