Avnet Inc. (AVT) reported that its third-quarter net income decreased to $86.2 million or $0.62 per share, from $147.6 million or $1.00 per share last year. Adjusted profit per share was $0.90, compared to $1.03 prior year.
Sales rose to $6.30 billion, from $6.28 billion last year. Pro forma revenue declined 4.8% year over year and 4.4% in constant currency.
On average, ten analysts polled by Thomson Reuters expected the company to report profit of $0.87 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $6.26 billion for the quarter.
The company expects fourth-quarter consolidated sales to be between $6.15 billion and $6.75 billion, and adjusted earnings per share to be in the range of $0.90 to $1.00. Analysts expect the company to report fourth-quarter profit per share of $1.01 on revenue of $6.48 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.