Skip to content Skip to sidebar Skip to footer

Sales Dip Amid Economic Challenges

  • Sales: Reported a decrease to $6.2 billion, a 7.6% year-over-year decline.

  • Operating Income: Dropped by 21% year-over-year to $236.3 million.

  • Diluted EPS: GAAP EPS at $1.28, a significant decrease from $2.63 the previous year.

  • Adjusted Diluted EPS: Non-GAAP EPS at $1.40, down 30% year-over-year.

  • Electronic Components Margin: Operating margin decreased to 4.3% from 4.7% year-over-year.

  • Balance Sheet: Total assets increased to $12.99 billion from $12.48 billion as of July 1, 2023.

  • Cash Flow: Operating activities resulted in a cash use of $83.6 million for the six months ended December 30, 2023.

On January 31, 2024, Avnet Inc (NASDAQ:AVT) released its 8-K filing, detailing the financial results for its second quarter ended December 30, 2023. The global distributor of electronic components reported a decrease in sales to $6.2 billion, a 7.6% year-over-year decline, and a 2.1% decrease from the…

Read the full article…