Avnet reports Q3 EPS $1.48, consensus $1.32

Reports Q3 revenue $7.1B, consensus $6.41B. “Sales and earnings exceeded our expectations, with double-digit sales growth both sequentially and year over year. Our team is executing well, driving improved operating margins and leverage, supported by continued disciplined cost management and inventory optimization. The investments we have made in our capabilities and digital infrastructure are paying off,” said Avnet (AVT) Chief Executive Officer Phil Gallagher. “We see the momentum building in our business, indicative of broadening strength across all regions in our core markets. Avnet is well-positioned to drive profitable growth and expect to continue progressing toward our prior peak margin levels.”