Avnet Q2 Adj. EPS $1.40, Inline, Sales $6.21B Beat $6.16B Estimate
Portfolio Pulse from Benzinga Newsdesk
Avnet (NASDAQ:AVT) reported Q2 adjusted EPS of $1.40, meeting analyst estimates, but marking a 30% decrease from $2.00 per share last year. Sales reached $6.21B, slightly beating estimates of $6.16B but showing a 7.64% decrease from $6.72B in the previous year.
January 31, 2024 | 1:03 pm
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Avnet's Q2 earnings per share matched expectations, but showed a significant year-over-year decline. Revenue exceeded estimates but also declined compared to last year.
While Avnet's EPS met analyst expectations, the year-over-year decline could be seen as a negative signal, potentially offset by the slight revenue beat. The mixed results present a neutral outlook, as the market may have already priced in these expectations.
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IMPORTANCE 75
RELEVANCE 100