Avnet, Inc.
48.64-1.90 (-3.76%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · AVT · USD
Key Stats
Market Cap
3.96BP/E (TTM)
17.69Basic EPS (TTM)
2.75Dividend Yield
0.03%Recent Filings
8-K
8-K
Avnet prices $650M notes
Avnet issued $650 million in 1.75% convertible senior notes due 2030 on September 5, 2025, netting $632.8 million after fees. The company repurchased 1.92 million shares for $100 million under its program, while directing the rest to trim revolving credit debt. Notes convert at 14.2313 shares per $1,000, implying $70.27 per share—a 35% premium over the $52.05 closing price. Holders can force repurchase in 2028. This bolsters liquidity yet adds dilution risk if converted.
8-K
Avnet, Inc. (Nasdaq: AVT), a global technology solutions provider, today announced that it has entered into Amendment No. 1 to its Third Amended and Restated Credit Agreement, dated January 17, 2025, and Amendment No. 1 to its Credit Agreement, dated July 1, 2025. These amendments, effective August 28, 2025, temporarily increase the maximum consolidated leverage ratio under the revolving credit facility to 5.00 to 1.00 for certain fiscal quarters and to 4.50 to 1.00 for another, before reverting to 4.00 to 1.00, and impose restrictions on restricted payments during this relief period.
10-K
FY2025 results
Avnet's FY2025 sales fell 6.6% y/y to $22.2B, driven by a downturn in the electronic components market, yet Q4 showed sequential stabilization with Asia sales up 11.1% y/y offsetting declines in EMEA (-23.7%) and Americas (-10.5%). Gross margins compressed to 10.7% from 11.6%, reflecting a shift toward lower-margin Asia sales, while operating income dropped 39.1% to $514M amid higher restructuring costs of $108M for headcount cuts and facility closures. EC drove 93.5% of sales but saw margins slip to 3.4%; Farnell faltered with 9.5% sales drop and 2.3% margin. Cash from operations surged to $725M on inventory normalization, funding $303M buybacks and $113M dividends; debt stood at $2.7B with $1.1B liquidity. Q4 momentum hints at recovery, but supply chain volatility looms large.
8-K
Avnet's FY25 results show resilience
Avnet reported fiscal 2025 sales of $22.2 billion, down 6.6% from $23.8 billion last year, with diluted EPS falling to $2.75 from $5.43 amid a tough market. Yet Asia sales surged 17.6% to $2.7 billion in Q4, and Farnell posted 3% growth with margins up to 4.3%. Cash flow hit $725 million, funding $301 million in repurchases. Q1 2026 guidance eyes $5.55B–$5.85B sales and $0.75–$0.85 adjusted EPS. Inventory cuts signal efficiency gains.
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