Avnet Inc reports results for the quarter ended December 31 - Earnings Summary

• Avnet Inc AVT.OQ reported quarterly adjusted earnings of 87 cents​​ per share for the quarter ended December 31, lower than the same quarter last year, when the company reported EPS of $1.40. The mean expectation of six analysts for the quarter was for earnings of 89 cents per share. Wall Street expected results to range from 85 cents to 95 cents per share.

• Revenue fell 8.7% to $5.66 billion from a year ago; analysts expected $5.58 billion.

• Avnet Inc's reported EPS for the quarter was 99 cents​.

• The company reported quarterly net income of $87.25 million.

• Avnet Inc shares had risen by 0.2% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.5% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 4 "hold" and 2 "sell" or "strong sell."

• The average consensus recommendation for the electronic equipment & parts peer group is also "hold"

Wall Street's median 12-month price target for Avnet Inc is $54.00

This summary was machine generated from LSEG data January 29 at 02:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)