NASDAQ$AVT
Avnet Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Avnet's Q2 2021 financial results were announced, with sales of $4.7 billion and EPS of $0.19, exceeding guidance. The company achieved its third consecutive quarter of operating margin improvement.
Avnet reported a strong second quarter for fiscal year 2021, with sales reaching $4.7 billion and adjusted EPS exceeding guidance at $0.48. The company saw growth in Asia and improvements in Farnell, EMEA, and Americas businesses.
- Sales reached $4.7 billion, up from $4.5 billion in the prior year quarter, driven by record sales in Asia.
- GAAP diluted earnings per share was $0.19, a 200% increase compared to the prior quarter.
- Non-GAAP adjusted diluted earnings per share was $0.48, a 33% increase compared to the prior quarter.
- Farnell operating margins increased sequentially 97 basis points to 4.5%.
Headline financials
Revenue & EPS history
Avnet · Revenue · Quarterly
$4.67B
Revenue by segment
Avnet · $4.67B total across 2 segments · Q2 2021
- Electronic Components$4.34B+3.3%93.0%
- Farnell$326M-1.6%7.0%
Forward guidance
For the third quarter of fiscal year 2021, Avnet expects sales to be between $4.3 billion and $4.7 billion, with a midpoint of $4.5 billion. Non-GAAP diluted EPS is expected to be between $0.52 and $0.58, with a midpoint of $0.55.
Tailwinds
- Guidance is based on market conditions existing as of the report date.
- Expects seasonally lower revenues in Asia.
- Gross margin improvement due to the mix shift from Asia to Americas and EMEA.
- Ongoing cost reduction programs.
- Excludes amortization of intangibles, any potential restructuring, integration, and other expenses and certain income tax adjustments.
Headwinds
- Sales guidance assumes approximately $50 million in lower sales of Texas Instruments products as compared to the second quarter of fiscal 2021.
- Guidance assumes 100 million average diluted shares outstanding.
- Guidance assumes average U.S. Dollar to Euro and GBP currency exchange rates of $1.21 and $1.36 respectively.
- Market conditions existing as of the report date.
- Seasonally lower revenues in Asia.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
-0.4%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+2.2%
Avg return
30 days after
39%
28 / 71 earnings
Positive
+13.9%
Q2 2026
Best reaction
-13.2%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +4.1% | +2.7% | +11.1% | |
| Q2 2026 | +13.9% | +20.2% | +25.0% | |
| Q1 2026 | -3.9% | -4.7% | -6.0% | |
| Q3 2025 | -8.3% | -2.3% | -2.4% | |
| Q2 2025 | +1.5% | -5.1% | -3.6% | |
| Q1 2025 | -0.5% | -0.8% | +0.5% | |
| Q4 2024 | +6.0% | +6.6% | +1.6% | |
| Q3 2024 | -0.5% | +1.8% | +11.7% | |
| Q2 2024 | -5.2% | -5.8% | -0.6% | |
| Q1 2024 | -2.1% | -0.2% | +2.4% | |
| Q4 2023 | +6.4% | +7.1% | +4.7% | |
| Q3 2023 | +4.0% | +1.4% | +9.3% | |
| Q2 2023 | +2.3% | +1.3% | -0.7% | |
| Q1 2023 | -2.2% | -0.4% | +11.8% | |
| Q4 2022 | -4.1% | -1.4% | -5.9% | |
| Q3 2022 | +12.4% | +13.1% | +23.9% | |
| Q2 2022 | +3.3% | +4.4% | +9.1% | |
| Q1 2022 | +4.1% | +8.2% | +1.5% | |
| Q4 2021 | -0.4% | -3.2% | -7.5% | |
| Q3 2021 | -0.5% | -1.4% | -0.7% | |
| Q2 2021 | -7.4% | -5.0% | -1.8% | |
| Q1 2021 | -5.2% | -0.9% | +17.9% | |
| Q4 2020 | +1.0% | -0.3% | -2.7% | |
| Q3 2020 | +3.5% | +5.9% | +1.7% | |
| Q2 2020 | +1.1% | -4.2% | -14.2% | |
| Q1 2020 | -4.2% | -2.2% | -1.2% | |
| Q4 2019 | -1.1% | -1.1% | +4.9% | |
| Q3 2019 | +1.2% | +2.4% | -10.7% | |
| Q2 2019 | +1.3% | -0.4% | +10.7% | |
| Q1 2019 | -2.9% | +1.7% | +11.3% | |
| Q4 2018 | +4.8% | +3.4% | +7.6% | |
| Q3 2018 | -2.7% | -2.5% | -4.1% | |
| Q2 2018 | +2.1% | +0.2% | -0.4% | |
| Q1 2018 | -0.0% | -0.7% | +0.2% | |
| Q4 2017 | -3.9% | -2.2% | -3.8% | |
| Q3 2017 | -13.2% | -15.9% | -17.7% | |
| Q2 2017 | -1.5% | -2.5% | -2.5% | |
| Q1 2017 | -1.7% | -1.4% | +10.1% | |
| Q4 2016 | -0.4% | +0.8% | -3.4% | |
| Q3 2016 | -7.9% | — | — | |
| Q2 2016 | +1.4% | — | — | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | +4.8% | — | — | |
| Q3 2015 | -4.4% | — | — | |
| Q2 2015 | +2.5% | — | — | |
| Q1 2015 | +4.3% | — | — | |
| Q4 2014 | -5.7% | — | — | |
| Q3 2014 | -8.5% | — | — | |
| Q2 2014 | -5.8% | — | — | |
| Q1 2014 | -5.8% | — | — | |
| Q4 2013 | +1.2% | — | — | |
| Q3 2013 | -3.6% | — | — | |
| Q2 2013 | +10.2% | — | — | |
| Q1 2013 | +2.0% | — | — | |
| Q4 2012 | -0.9% | — | — | |
| Q3 2012 | -1.1% | — | — | |
| Q2 2012 | +3.6% | — | — | |
| Q1 2012 | -4.5% | — | — | |
| Q4 2011 | -3.1% | — | — | |
| Q3 2011 | +2.1% | — | — | |
| Q2 2011 | +1.1% | — | — | |
| Q1 2011 | -0.7% | — | — | |
| Q4 2010 | -2.0% | — | — | |
| Q4 2008 | -2.0% | — | — | |
| Q3 2010 | -3.2% | — | — | |
| Q3 2009 | -3.2% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q1 2009 | -0.2% | — | — | |
| Q4 2009 | -0.2% | — | — | |
| Q1 2010 | -0.2% | — | — | |
| Q2 2009 | -0.2% | — | — |
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