Avnet’s Q3 Revenue Surges 34% to $7.12B, EPS Beats at $1.48
Avnet reported Q3 revenue of $7.12 billion, up 34% year-over-year, with EPS of $1.48 beating estimates and driving the stock to a 52-week high of $82.51. Truist Financial boosted its price target to $95, implying a 16.5% upside on the distributor’s market cap of $6.67 billion.
1. Q3 Financial Highlights
Avnet posted third-quarter revenue of $7.12 billion, representing a 34% increase over last year, and delivered EPS of $1.48, both surpassing consensus forecasts of $6.35 billion and $1.33 respectively.
2. Analyst Price Target Upgrade
Truist Financial raised its price target for Avnet to $95 from $81.53, signaling a 16.5% potential upside and reflecting heightened confidence in the company’s growth trajectory.
3. Segment Growth & Inventory Management
Record sales in the Electronic Components segment, particularly in Asia accounting for nearly 50% of revenues, and disciplined inventory management reducing days on hand to 77 underline Avnet’s operational strength as data center and AI demand expands.