Avnet Inc. (AVT) reported first-quarter net income of $50.9 million or $0.33 per share compared to $90.3 million or $0.59 per share last year.
Excluding items, net income was $67.2 million or $0.44 per share compared to $101.7 million or $0.67 per share prior year.
On average, 12 analysts polled by Thomson Reuters expected the company to report profit of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.
Sales were $4.355 billion compared to $4.495 billion last year. Analysts expected revenue of $3.92 billion for the quarter.
The company expects second-quarter consolidated sales to be between $4.10 billion and $4.70 billion. Management expects second-quarter earnings per share to be in the range of $0.52-$0.60.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.