Avnet - AVT STOCK NEWS

Avnet (Nasdaq: AVT), a leading global technology solutions provider, has announced its participation in the 46th Annual Raymond James Institutional Investors Conference. The event will take place on March 3, 2025, featuring a fireside chat with Avnet's Vice President of Treasury & Investor Relations, Joe Burke, scheduled for 11:35 a.m. ET.

Investors and interested parties can access both the live presentation and archived webcast through Avnet's Investor Relations website at https://ir.avnet.com.

Avnet (AVT) reported second quarter fiscal 2025 results with sales of $5.7 billion, down 8.7% from the prior year. The company posted diluted earnings per share of $0.99, compared to $1.28 in the prior year quarter, while adjusted EPS was $0.87 versus $1.40.

Operating income margin decreased to 2.7% from 3.8% year-over-year. The company generated over $300 million in cash flow from operations and reduced inventory by $362 million (6%) from the previous quarter. Avnet returned $80 million to shareholders through share repurchases ($51 million) and dividends ($29 million).

For Q3 fiscal 2025, Avnet expects sales between $5.05-5.35 billion and diluted EPS of $0.65-0.75, anticipating seasonal sales declines in Asia due to Lunar New Year and modest declines in western regions.

Avnet (Nasdaq: AVT), a global technology solutions company, will announce its financial results for the second quarter of fiscal year 2025 on January 29, 2025, before the market opens.

Following the earnings release, Avnet's CEO, Phil Gallagher, and CFO, Ken Jacobson, will host a webcast and conference call at 8:00 a.m. PT / 11:00 a.m. ET to discuss the financial results and provide a corporate update.

To join the live call, dial 877-407-8112 or 201-689-8840. The live webcast, along with slides, will be accessible via Avnet’s Investor Relations web page at www.ir.avnet.com. An audio replay will be available after the call and archived on the Avnet website for one year.

The fourth annual Avnet Insights survey reveals that engineers are optimistic yet cautious about the impact of Artificial Intelligence (AI) in product development. According to the survey, 75% of engineers believe market conditions for their design products are improving, and 49% expect better economic conditions to ease their work in the next year.

Avnet found that 42% of engineers have already integrated AI into their product design processes and are shipping those products. The survey explored 14 areas where AI could have a significant impact, from AI-driven simulation and testing to hardware design tools and software code generation. Engineers couldn't pinpoint a single leading area, indicating AI's broad potential impact.

Nearly all surveyed engineers (96%) agree that AI is likely to influence key product development functions, such as automating design tasks, enabling personalized designs, improving market predictive capabilities, and reducing development cycles. However, they also anticipate challenges, including security and privacy concerns (37%), data quality issues (31%), integration with existing tools (25%), and high costs (24%).

The survey highlights the need for specific skills to leverage AI effectively, including data analysis and interpretation, AI model optimization, and problem-solving and critical thinking, each cited by 16% of respondents. The survey included 1,204 global respondents from various regions and was conducted from October 31 to November 15, 2024.

Avnet (Nasdaq: AVT) has announced its participation in two major investor conferences this December. The company will be present at the Raymond James TMT & Consumer Conference in New York on December 9, 2024, where CEO Phil Gallagher and CFO Ken Jacobson will participate in a fireside chat at 1:40 pm ET. Additionally, CFO Ken Jacobson and VP of Treasury & Investor Relations Joe Burke will attend the Nasdaq London Investor Conference on December 11, 2024, participating in a fireside chat at 10:00 am GMT. Both presentations will be available via live and archived webcasts on Avnet's Investor Relations website.

Avnet (Nasdaq: AVT) has announced its Board of Directors' approval of a regular quarterly cash dividend of $0.33 per share. The dividend will be distributed on December 18, 2024, to shareholders recorded as of the business close on December 4, 2024. Avnet, which operates as a global technology solutions provider, continues its commitment to returning value to shareholders through this dividend payment.

Avnet (AVT) reported Q1 2025 financial results with sales of $5.6 billion, down 11.6% year-over-year. Diluted EPS was $0.66, compared to $2.25 in the prior year, while adjusted EPS reached $0.92. The company's operating income margin decreased to 2.5% from 4.0% year-over-year. Asia region showed growth with sales up 6.2%, while Americas and EMEA declined by 15.5% and 27.7% respectively. The company generated $106 million in operating cash flow and returned nearly $100 million to shareholders through share repurchases and $29 million in dividends.

Avnet (Nasdaq: AVT) has appointed Dave Youngblood as its new Chief Digital Officer, effective October 21, 2024. In this newly created role, Youngblood will lead Avnet's enterprise-wide digital platform and eCommerce strategy, reporting directly to CEO Phil Gallagher and joining the executive leadership team.

Youngblood brings over 25 years of experience in the electronics industry, with a focus on digital experiences and demand creation. His most recent position was Head of Digital Customer Experience at Analog Devices. Avnet's digital strategy aims to simplify transactions and provide reliable, actionable data to help customers grow their businesses.

CEO Phil Gallagher expressed confidence that Youngblood's leadership will enhance Avnet's digital and eCommerce capabilities, making it easier for customers to do business with the company and enabling them to move faster at scale.

Avnet (Nasdaq: AVT), a global technology solutions company, has announced it will report its first quarter fiscal year 2025 earnings on October 30, 2024 before the market opens. Following the earnings release, CEO Phil Gallagher and CFO Ken Jacobson will host a webcast and conference call at 9:00 a.m. PT / Noon ET to discuss the financial results and provide a corporate update.

To participate in the live call, interested parties can dial 877-407-8112 or 201-689-8840. The live webcast, along with accompanying slides, will be accessible via Avnet's Investor Relations web page at www.ir.avnet.com. An audio replay of the webcast will be available after the call and archived on the Avnet website for one year.