Avnet Fiscal-Year Sales Top $24B - Modern Distribution Management

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Avnet Fiscal-Year Sales Top $24B

The Phoenix-based global technology solutions provider also reported fiscal 2022 4Q sales of $6.4 billion.
Avnet, Inc. on Aug. 10 reported 2022 fiscal-year sales of $24.3 billion, a 24.5% increase over the prior year.

Avnet, Inc. on Aug. 10 reported 2022 fiscal-year sales of $24.3 billion, a 24.5% increase over the prior year.

The Phoenix-based technology solutions company also reported fiscal fourth-quarter sales of $6.4 billion, up 21.9% from the previous year.

“We are pleased to end the fiscal year on a high note, delivering another strong quarter of year-over-year sales growth and operating margin expansion,” Avnet CEO Phil Gallagher said. “Supported by solid execution across our businesses, Avnet continues to gain share and secure new opportunities in the markets in which we compete. Despite an evolving macro environment, we remain well-positioned to continue to grow our business profitably by helping our customers and suppliers navigate an increasingly complex market.”

For fiscal-year 2022, Avnet’s electronic components operating income margin was 3.9%, an increase of 135 basis points year over year.

In 4Q, Avnet reported an electronic components operating income margin of 4.3%, which increased 122 basis points over 4Q of last year.

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