Avnet reported sales of $6.32 billion for the quarter ended December 27, 2025, representing an 11.6% year-over-year increase and a 7.1% sequential gain. GAAP diluted earnings per share were $0.75, down 24.2% from $0.99 a year ago, while non-GAAP adjusted EPS rose 20.7% to $1.05, outperforming consensus estimates by $0.10. Operating income under GAAP was $146.2 million (2.3% margin), and adjusted operating income reached $171.7 million (2.7% margin), both reflecting margin expansion versus the prior quarter.

Electronic Components sales climbed 10.8% year-over-year to $5.89 billion, with the operating margin improving to 3.2%. Farnell revenues jumped 23.6% to $427.1 million, driven by strong demand in Europe, lifting its operating margin to 4.7%. Asia posted a sixth consecutive quarter of growth with record sales of $3.17 billion (up 16.9%). EMEA returned to year-over-year growth at $1.71 billion (+8.3%), and the Americas advanced 4.9% to $1.44 billion.

The company generated $208 million in operating cash flow and reduced inventories by $126 million, bringing days of inventory down to 86 days overall and below 80 days in the Electronic Components business. Free cash flow strength supported $28 million in dividend payments during the quarter.

For the quarter ending March 28, 2026, management expects sales of $6.20 billion to $6.50 billion (midpoint +1% sequential growth) and adjusted diluted EPS of $1.20 to $1.30 (midpoint +19% sequential growth). Guidance assumes continued growth in the Americas and EMEA, a modest seasonal decline in Asia, an effective tax rate near 23%, and 83 million average diluted shares outstanding.