Avnet Sees Q2 Sales Of $5.40B-$5.70B Vs. $5.5B Estimate; Projects Diluted EPS Of $0.80-$0.90 Vs. $1.01 Estimate
Portfolio Pulse from Benzinga Newsdesk
Avnet has released its Q2 sales forecast, projecting revenues between $5.40 billion and $5.70 billion, which is in line with the $5.5 billion estimate. However, the company expects diluted EPS to be between $0.80 and $0.90, below the $1.01 estimate.
October 30, 2024 | 12:13 pm
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NEGATIVE IMPACT
Avnet's Q2 sales forecast aligns with estimates, but its EPS projection falls short, which may negatively impact the stock price.
Avnet's sales forecast is within the expected range, which is neutral. However, the EPS projection is below the market estimate, indicating potential profitability concerns. This discrepancy is likely to lead to a negative short-term impact on the stock price as investors may react to the lower-than-expected earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100