Avnet, Inc. (AVT), Wednesday announced its second quarter financial results, reporting net income of $61.7 million, or $0.75 per share, compared to $87.3 million, or $0.99 per share, in the prior year.
On an adjusted basis, earnings rose 20.7 percent, to $1.05 per share from last year's $0.87 per share.
Analysts, on average, estimated earnings of $0.95 per share for the quarter.
Operating income declined to $146.2 million, down 5.9 percent from $155.3 million in the earlier year.
For the quarter, sales increased 11.6 percent, to $6.318 billion from $5.663 billion in the previous year.
Looking ahead, the company expects sales of $6.20 to $6.50 billion, and adjusted earnings of $1.20 to $1.30 per share for the third quarter of fiscal year 2026.
Analysts, on average, see earnings of $1.2 per share, and revenue of $5.85 billion for the next quarter.
Currently, AVT is climbing 11.29 percent, to $58.63 on the Nasdaq.
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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.