Avnet reports Q1 EPS $1.61, consensus $1.51

Reports Q1 revenue $6.34B, consensus $6.33B. Commenting on the Company’s financial results, Avnet Chief Executive Officer Phil Gallagher stated, “We delivered better-than-expected results in the first quarter thanks to the strong performance of our Electronic Components business. Our team’s continued execution and flexibility are resonating with both our customer and supplier partners, especially in today’s market conditions. We remain focused on the things we can control, and are confident that our resiliency and adaptability will keep us on our path to driving profitable growth and value for all of our stakeholders in the long term.”