Avnet reported $10.7 billion in fiscal first-quarter sales, up 81.7% year over year in a 14-week period, and forecast more growth next quarter, according to its Nov. 4 release.
The quarter ended Oct. 3 and ran for 14 weeks, compared with 13 weeks in the year-earlier period. Avnet said sales growth was 71% without the additional week. Its Electronic Components unit posted $10.1 billion in sales, up 84.3%, while Farnell recorded $583.3 million, a 46.2% increase. The company said sales rose across all regions and operating groups.
The week difference affects the year-over-year comparison: the 81.7% figure covers a longer reporting period, while the 71% figure excludes the added week. The two rates describe growth over periods of different lengths.
Diluted earnings per share under generally accepted accounting principles (GAAP) were $3.28, compared with 61 cents a year earlier. Adjusted diluted earnings per share were $3.63, up 332%. Adjusted operating income totaled $498.1 million, and its margin rose 210 basis points year over year to 4.7%.
CEO Phil Gallagher attributed the performance to stronger demand and solid execution. He cited industrial, aerospace and defense, transportation, and AI and data center applications as areas of growth. Gallagher called it “another record quarter.” Avnet also said it returned $30 million to shareholders in dividends.
For the fiscal second quarter ending Jan. 2, 2027, Avnet forecast sales of $11.1 billion to $11.4 billion and adjusted diluted earnings per share of $3.90 to $4.10. The $11.25 billion midpoint is about 5% above first-quarter sales; after adjusting for the extra week, Avnet estimated a 12% increase. The outlook assumes suppliers keep component deliveries near first-quarter levels.
