Yahoo Finance Avnet Second Quarter 2023 Earnings: Beats Expectations
Avnet (NASDAQ:AVT) Second Quarter 2023 Results
Key Financial Results
Revenue: US$6.72b (up 14% from 2Q 2022).
Net income: US$243.9m (up 62% from 2Q 2022).
Profit margin: 3.6% (up from 2.6% in 2Q 2022). The increase in margin was driven by higher revenue.
EPS: US$2.67 (up from US$1.52 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Avnet Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 57%.
Looking ahead, revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Electronic industry in the US are expected to grow by 5.4%.
Performance of the American Electronic industry.
The company's shares are up 1.9% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 4 warning signs for Avnet (of which 3 don't sit too well with us!) you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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