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 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.