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Avnet, Inc. (NASDAQ: AVT) is a global leader in electronic components distribution, dedicated to advancing technological innovation. With a presence in 125 countries and a team of 15,000 professionals, Avnet bridges the gap between suppliers and customers in the electronics industry. The company supports all phases of the technology lifecycle, from initial design to final production.
Avnet caters to startups and established manufacturers alike, providing crucial resources such as design tools, test kits, and supply chain services. As the third-largest semiconductor distributor globally, Avnet serves over 2.1 million small- and mid-sized businesses in 140 countries. The company's European distribution network is particularly noteworthy, being the largest in the region.
Recent achievements include innovative partnerships and cutting-edge projects aimed at accelerating technological advancements. Avnet’s engineers and support teams are at the forefront of these developments, enhancing the company’s role as a pivotal player in the tech industry.
With a strong financial foundation and a culture rooted in emerging technology, Avnet continues to guide ideas into tomorrow's technology. Whether you're an innovator at the start of your journey or a manufacturer ready to scale, Avnet provides the tools and expertise needed to succeed.
Avnet (Nasdaq: AVT), a global technology solutions company, has announced key dates for its fourth quarter and fiscal year 2024 financial reporting and annual shareholder meeting. The company will release its earnings report on August 8, 2024, before the market opens, followed by a webcast and conference call at 9:00 a.m. PT / Noon ET. CEO Phil Gallagher and CFO Ken Jacobson will host the call to discuss financial results and provide a corporate update.
The Annual Meeting of Shareholders is scheduled for November 22, 2024, at 8:00 a.m. in Phoenix, Arizona. The record date for voting eligibility is set for September 23, 2024. Investors can access the live earnings call and webcast through Avnet's Investor Relations web page, with a replay available until August 15.
Avnet (Nasdaq: AVT) has launched a new product brand called Tria™ and a corresponding business, Tria Technologies, to consolidate its compute design and manufacturing capabilities. The Tria brand will encompass embedded compute boards, systems, and associated design and manufacturing services. This move aims to address the growing trend of OEMs shifting from chip-down manufacturing to pre-made embedded compute platforms.
Led by Thomas Staudinger, president of Embedded Solutions at Avnet, Tria Technologies will design and manufacture both standard and custom embedded compute products. The new brand represents Avnet's global design and manufacturing capabilities across the Americas, Europe, and Asia. It builds on Avnet's established market-leading position in embedded compute and advanced applications solutions, offering customers faster time-to-market, improved products, and reduced business risks.
Avnet (Nasdaq: AVT) has announced Rebeca Obregon as the new president of Farnell, effective July 1, 2024. Farnell is a key electronics components distributor within Avnet's portfolio, known for its comprehensive product range and global supply chain. Rebeca Obregon has been with Avnet since last year, serving as senior vice president of Strategic Business Engagements and Supplier Management. She brings over 30 years of semiconductor industry experience and has held leadership roles, including corporate vice president at Amkor Technology. Avnet CEO Phil Gallagher expressed confidence in Obregon’s ability to drive Farnell's success, emphasizing her commitment to the company's suppliers, customers, partners, and employees.
Avnet (NASDAQ: AVT), a global technology solutions company, has announced its participation in two upcoming investor conferences in June 2024. The Stifel 2024 Cross Sector Insight Conference will take place on June 4 in Boston, featuring Avnet’s CEO Phil Gallagher and CFO Ken Jacobson in a fireside chat at 1:15 pm ET. The BofA Securities 2024 Global Technology Conference will occur on June 6 in San Francisco, with CFO Ken Jacobson and Vice President of Treasury & Investor Relations Joe Burke participating in a fireside chat at 8:40 am PT. Both sessions will be available for live and archived viewing on Avnet's Investor Relations webpage.
Avnet, a global technology solutions provider, has announced that its Board of Directors approved a regular quarterly cash dividend of $0.31 per share on May 15, 2024. This dividend will be paid on June 19, 2024, to shareholders who are recorded by the close of business on June 5, 2024. The announcement reflects Avnet's commitment to returning value to its shareholders.
Avnet, a global technology solutions provider, announced that its Board of Directors approved a regular quarterly cash dividend of $0.31 per share on May 15, 2024. The dividend will be paid on June 18, 2024, to shareholders who are recorded by the close of business on June 5, 2024. This announcement corrects a previous release that incorrectly listed the payment date as June 19, 2024.
Avnet reported third quarter 2024 financial results with sales of $5.7 billion and diluted EPS of $0.97. Adjusted diluted EPS was $1.10, with an electronic components operating margin of 4.1%. Despite lower demand and economic softness, the company generated nearly $500 million in cash flow from operations and returned $28 million to shareholders in dividends.
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