Electronic components distributor Avnet reported its 2026 second quarter (October-December) financial results on Jan. 28, which were led by accelerated growth in Asia and its U.K.-based Farnell business unit as well as continued year-over-year sales growth in the Americas.
Avnet posted 2Q sales of $6.32 billion, up 11.6% YoY and up 7.1% sequentially from 1Q. In constant currency, sales improved 10% YoY.
By geography:
- Americas revenue totaled $1.435 billion, up 5% YoY (5% constant). It was the second straight quarter of YoY growth.
- EMEA revenue totaled $1.714 billion, up 8% YoY (1% constant) in a return to YoY growth
- Asia revenue – now up to 50% of total business — totaled a company record $3.17 billion, up 17% YoY (17% constant) for a sixth straight quarter of YoY growth
By business unit
- Electronic Components revenue totaled $5.892 billion, up 11% YoY (9% constant)
- Operating margin of 3.2% dipped 25 bps YoY
- Farnell revenue totaled $427 million, up 24% YoY (20% constant) for a third straight quarter of YoY growth
- Operating margin of 4.7% surged 367 bps YoY
Avnet’s 2Q gross margin of 10.5% ticked up 10 basis points sequentially, while operating margin of 2.3% edged down 10 points. Q2 net profit was $62 million, down from $87 million of a year earlier but up from Q1’s $52 million.
Avnet was No. 2 on MDM’s Top Distributors List for Electronics, and was designated a 2025 MDM Industry Titan for ranking in the top three of that list for the past five consecutive years.
