Avnet (AVT) Tops Q2 EPS by 5c, Offers Q3 Outlook

Avnet Reports Second Quarter Fiscal 2018 Results

January 25, 2018 7:00 AM EST

PHOENIX--(BUSINESS WIRE)-- Avnet, Inc. (NYSE: AVT) today announced results for the second quarter ended December 30, 2017.

Second Quarter Results

Sales of $4.5 billion were at the high end of our guidance Sales increased 5.8% year over year Organic sales increased 1.9% in constant currency from the year ago quarter Diluted earnings per share (EPS) from continuing operations of $0.47 Adjusted diluted EPS from continuing operations of $0.78 Cash generated from operating activities was $68.8 million in the December quarter                         Second Quarters Ended Organic December 30, 2017

December 31, 2016(1)

Change

Growth(2)

Avnet $ in millions, except per share data Sales $ 4,521.6 $ 4,273.6 5.8 % 4.6 %

Constant Currency(3)

3.1 %... More