Avnet Reports Q3 Fiscal 2026: $7.12B Revenue, $1.48 Adjusted Diluted EPS

Avnet reported third-quarter fiscal 2026 results with sales of $7.12 billion, up 34% year over year and 13% sequentially, and GAAP diluted EPS of $1.14. Adjusted diluted EPS was $1.48, a 76% increase year over year and 41% sequentially, while operating income rose to $205.5 million and adjusted operating income to $220.6 million. The company cited broad regional strength across Electronic Components and Farnell, inventory improvement and sequential margin expansion.Financial HighlightsRevenue: $7,119.8 million for the third quarter (34.0% year-over-year; 12.7% sequential).Gross profit: $739.1 million for the quarter (reported in consolidated statements of operations).Operating income (GAAP): $205.5 million for the quarter; Operating income margin: 2.9%.Net income (GAAP): $94.3 million for the quarter; GAAP diluted EPS: $1.14.Adjusted diluted EPS (non-GAAP): $1.48 for the quarter; Adjusted operating income: $220.6 million; Adjusted operating income margin: 3.1%.Business HighlightsElectronic Components segment delivered record sales of $6,665.1 million, up 34.7% year over year and up 13.1% sequentially, with an operating margin of 3.5%.Farnell achieved its third consecutive quarter of double-digit year-over-year sales growth; Farnell sales were $454.7 million with operating margin expanding to 5.2%.Sales grew across all geographic regions: Americas, EMEA and Asia each reported year-over-year and sequential increases, with Asia the largest region at $3,458.5 million in sales for the quarter.Working capital and inventory actions improved days of inventory to 77 days overall and below 70 days in the Electronic Components business for the quarter.Returned cash to shareholders via dividends of $29 million for the quarter and prioritized inventory optimization while supporting sales growth.Original SEC Filing: AVNET INC [ AVT ] - 8-K - Apr. 29, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.