Yahoo Finance Avnet Third Quarter 2024 Earnings: Misses Expectations
Avnet (NASDAQ:AVT) Third Quarter 2024 Results
Key Financial Results
Revenue: US$5.65b (down 13% from 3Q 2023).
Net income: US$88.8m (down 53% from 3Q 2023).
Profit margin: 1.6% (down from 2.9% in 3Q 2023). The decrease in margin was driven by lower revenue.
EPS: US$0.98 (down from US$2.05 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Avnet Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 2.0%.
Looking ahead, revenue is expected to decline by 2.0% p.a. on average during the next 3 years, while revenues in the Electronic industry in the US are expected to grow by 6.1%.
Performance of the American Electronic industry.
The company's shares are down 1.9% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for Avnet (1 is concerning!) that you need to take into consideration.
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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.
