The earnings call reflects solid performance with strong revenue and earnings growth, particularly in the Asia region, and improvements in the Farnell segment. However, the decline in EMEA sales and gross margin pressure due to regional sales mix shifts remain challenges. The company is optimistic about future growth opportunities and has shown resilience in managing costs and returning value to shareholders.

Company Guidance

In the Avnet Fourth Quarter Fiscal Year 2025 Earnings Call, the company reported a fiscal year revenue of $22.2 billion and an adjusted diluted earnings per share of $3.44. For the fourth quarter, Avnet achieved sales of $5.6 billion, surpassing their sales and EPS guidance, with an adjusted operating margin of 2.5%. The Farnell business highlighted a 4.3% operating margin. Geographically, Asia led with an 18% year-over-year growth, while EMEA and the Americas saw declines of 17% and 2%, respectively. The company generated $139 million in cash flow from operations during the quarter, contributing to an annual total of $725 million. Inventory levels were reduced by $35 million sequentially, though foreign currency fluctuations impacted reported figures. Avnet also repurchased nearly 7% of its outstanding shares over the fiscal year, achieving a 5% reduction target. Looking ahead, Avnet anticipates first-quarter fiscal 2026 sales to range between $5.55 billion and $5.85 billion, with diluted EPS guidance of $0.75 to $0.85. The company remains optimistic about fiscal 2026, particularly due to strong performance in Asia and stabilization efforts at Farnell.

Revenue and Earnings Performance

Avnet delivered $22.2 billion in revenues for fiscal year 2025 with adjusted diluted earnings per share of $3.44. Q4 sales reached $5.6 billion, exceeding guidance, with an adjusted operating margin of 2.5%.

Strong Performance in Asia

Asia reported an 18% year-over-year increase in sales for the fourth quarter, marking the fourth consecutive quarter of year-over-year growth in the region.

Positive Book-to-Bill Ratio

The book-to-bill ratio improved across all regions and Farnell, with Europe and Asia above parity, indicating a positive trend in order intake.

Farnell's Margin Improvement

Farnell achieved a 4.3% operating margin in Q4, marking the first year-on-year improvement since Q1 of FY '23.

Cash Flow and Shareholder Returns

Generated $139 million in cash flow from operations in Q4, and $725 million for the fiscal year. Returned $415 million to shareholders via dividends and share repurchases in fiscal 2025.

Avnet (AVT) Earnings, Revenues Date & History

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AVT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2026 (Q1)	0.81 / -	0.92	―	―	―
Aug 06, 2025	2025 (Q4)	0.75 / 0.81	1.22	-33.61% (-0.41)
Apr 30, 2025	2025 (Q3)	0.73 / 0.84	1.1	-23.64% (-0.26)
Jan 29, 2025	2025 (Q2)	0.89 / 0.87	1.4	-37.86% (-0.53)
Oct 30, 2024	2025 (Q1)	0.86 / 0.92	1.61	-42.86% (-0.69)
Aug 08, 2024	2024 (Q4)	0.95 / 1.22	2.06	-40.78% (-0.84)
May 01, 2024	2024 (Q3)	1.11 / 1.10	2	-45.00% (-0.90)
Jan 31, 2024	2024 (Q2)	1.40 / 1.40	2	-30.00% (-0.60)
Nov 01, 2023	2024 (Q1)	1.52 / 1.61	2	-19.50% (-0.39)
Aug 16, 2023	2023 (Q4)	1.65 / 2.06	2.07	-0.48% (>-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AVT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$51.89	$49.46	-4.68%
Apr 30, 2025	$50.91	$46.68	-8.31%
Jan 29, 2025	$51.74	$52.54	+1.55%
Oct 30, 2024	$53.42	$56.59	+5.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.