Avnet reports Q4 adjusted EPS $1.22, consensus 95c

Reports Q4 revenue $5.56B, consensus $5.37B. “We are pleased with our fiscal 2024 performance as we executed well, despite some challenging market conditions,” said Avnet Chief Executive Officer Phil Gallagher. “I want to thank our team for their focus on supporting our supplier and customer partners, growing market share, controlling costs, and managing working capital to drive operating cash flow. Their efforts enabled us to exceed the upper end of our fourth quarter sales and earnings guidance. We are well positioned entering into fiscal year 2025 and I am confident we have the right team and strategy in place to benefit from the eventual market recovery.”