Avnet Sales Up 25.7% in Fiscal 4Q

In the fourth quarter, Avnet’s profit totaled $85.36 million compared to $52.16 million in last year's fourth quarter.
Avnet, Inc. on Aug. 10 reported 2022 fiscal-year sales of $24.3 billion, a 24.5% increase over the prior year.

Avnet Inc. (Nasdaq: AVT), Phoenix, reported sales for the fiscal fourth quarter ended July 3 of $5.2 billion, up 25.7% year-over-year.

Avnet’s profit totaled $85.36 million, or $0.85 per share compared to $52.16 million, or $0.53 per share, in last year’s fourth quarter. Excluding items, Avnet reported adjusted earnings of $204.47 million or $1.12 per share for the period.

“In the fourth quarter, we delivered strong sales growth with record sales in our Electronic Components business and at Farnell, driving operating margin improvement approaching our 3% and 10% near-term targets, respectively,” said Avnet Chief Executive Officer Phil Gallagher. “We remain well-positioned across all operating regions and are continuing to capitalize on the strong demand environment to capture additional market opportunities. Avnet’s role at the center of the technology supply chain continues to be more vital than ever. As a result, our focus on providing trusted support to our customers and suppliers is driving robust financial performance which is demonstrated in our results.”

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.