Avnet (AVT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Avnet (AVT) reported revenue of $6.34 billion, down 6.1% over the same period last year. EPS came in at $1.61, compared to $2.00 in the year-ago quarter.
The reported revenue represents a surprise of +0.35% over the Zacks Consensus Estimate of $6.31 billion. With the consensus EPS estimate being $1.50, the EPS surprise was +7.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Avnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Farnell: $421.20 million versus $410.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
Sales- Electronic Components: $5.91 billion versus $5.91 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.
Operating Income (loss)- Electronic Components: $272.80 million compared to the $254.67 million average estimate based on four analysts.
Operating Income (loss)- Farnell: $17.70 million versus the four-analyst average estimate of $31.90 million.
Operating Income (loss)- Corporate expenses: -$28.70 million compared to the -$29.38 million average estimate based on three analysts.
View all Key Company Metrics for Avnet here>>>
Shares of Avnet have returned -2.6% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Avnet, Inc. (AVT) : Free Stock Analysis Report
