Avnet Stock Rises Despite Decline In Q2 Net Income

(RTTNews) - 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.