Avnet Posts $6.7B Sales in Fiscal 2Q - Modern Distribution Management

Log In

Avnet Posts $6.7B Sales in Fiscal 2Q

Avnet's 2Q sales were up 14.5% year-over-year, according to its Feb. 2 earnings announcement.

Phoenix, Arizona-based electronic components distributor Avnet announced Feb. 1 the results for its fiscal 2023 second quarter, which ended Dec. 31, 2022.

Avnet reported 2Q sales of $6.7 billion, a 14.5% increase year-over-year and up 21.1% on a daily, constant-currency basis.

MDM’s M&A Virtual Summit, to be held Feb. 21-22, has something to offer for any distributor on the dealmaking spectrum. We’ll cover the current state of M&A; how to maximize valuation; integration do’s and don’ts; ESOPs; the culture side of the M&A process; and more. Get details and register here.

In 2Q, Avnet posted operating income margin of 4.5%, an increase of 84 basis points year-over-year. Operating income margin for Avnet’s electronic components segment was 4.7%, up 122 basis points from a year ago.

“We delivered another strong quarter of sales and earnings to close out 2022,” Avnet CEO Phil Gallagher said. “This past year we were able to accelerate our sales growth, expand operating margins and gain market share thanks in large part to our customers’ partnership and our employees’ dedication and commitment. As we head into 2023, we are closely monitoring near-term market dynamics and remain encouraged about the medium-term growth opportunities across our diverse end markets.”

Avnet ranked No. 2 on MDM’s 2022 Top Electronics Distributors list.

Related Posts

Share this article

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.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


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.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.