Avnet Q4 Results Top Estimates. But Guides Q1 Adj. EPS Below Estimates
2024-07-31
3738
(fxcue news) - Avnet, Inc. (AVT) reported Thursday that net income for the fourth quarter decreased to $82.67 million or $0.91 per share from $155.26 million or $1.68 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $1.22 per share, compared to $2.06 per share in the year-ago quarter.
On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter declined 15.1 percent to $5.56 billion from $6.66 billion in the same quarter last year. It was down 14.2 percent in constant currency. Analysts expected revenues of $5.37 billion for the quarter.
Looking ahead to the first quarter of fiscal 2025, the company now projects earnings in a range of $0.80 to $0.90 per share on sales between $5.25 billion and $5.55 billion. The Street is looking for earnings of $0.97 per share on revenues of $5.51 billion for the quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Sign In via X
Google
Sign In via Google
This page link：http://www.fxcue.com/45104.html
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights