Avnet Expects Q3 Revenue Of $5.55B–$5.85B Vs. $5.93B Estimate; Company Projects Q3 Diluted EPS Of $1.05-$1.15 Vs. $1.34 Estimate
Portfolio Pulse from Benzinga Newsdesk
Avnet has provided its Q3 revenue and EPS projections, which are both below analysts' estimates. The company expects revenue to be between $5.55B and $5.85B, compared to the $5.93B estimate. Additionally, Avnet forecasts Q3 diluted EPS to be in the range of $1.05 to $1.15, which is lower than the estimated $1.34.
January 31, 2024 | 1:07 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Avnet's Q3 revenue and EPS projections are below the consensus estimates, which may lead to negative investor sentiment and a potential decrease in stock price in the short term.
When a company projects earnings or revenue that are below analysts' estimates, it often results in a negative perception among investors, which can lead to a decrease in the company's stock price in the short term. Avnet's lower-than-expected Q3 guidance is likely to cause concern among investors about the company's performance, potentially leading to a sell-off.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100