Avnet, Inc. announced its financial results for the third quarter ended March 29, 2025, reporting sales of $5.32 billion, a 6.0% decrease year-over-year. Diluted earnings per share (EPS) were $1.01, an increase of 4.1% year-over-year, while adjusted diluted EPS was $0.84, down 23.6% from the prior year.
Operating income for the quarter was $143.3 million, a 24.7% decrease year-over-year, with an operating income margin of 2.7%. The Electronic Components segment saw sales decrease by 5.7% to $4.95 billion, and Farnell sales declined by 10.1% to $366.7 million. Americas sales decreased 9.2% and EMEA sales decreased 24.1%, while Asia sales increased 13.0%.
Avnet repurchased $101.3 million of common stock in Q3 FY25, contributing to $253.5 million in repurchases for the first nine months of FY25. For the fourth quarter of fiscal 2025, the company provided guidance for sales in the range of $5.15 billion to $5.45 billion and diluted EPS between $0.65 and $0.75, assuming lower sales in EMEA and relatively flat sales in Asia and the Americas in constant currency.
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