Benzinga | Jul 20, 2021 04:09PM EDT

Avnet Sees Q4 2021 Non-GAAP Adj. EPS $1.01-$1.05

Sales and Adjusted Earnings Expected to Exceed Prior Guidance

GAAP EPS Expected to be $0.72 to $0.78 and Adjusted EPS $1.01 to $1.05

Company Plans to Report Fourth Quarter and Fiscal Year 2021 Results on August 11

Avnet, Inc. (NASDAQ:AVT) today announced preliminary, unaudited results for fourth quarter sales, operating margins, and earnings per share. Sales and earnings per share will exceed the high end of previous guidance.

Commenting on today's announcement, Avnet Chief Executive Officer Phil Gallagher stated, "Strong quarter-over-quarter sales growth in EMEA, Asia and Farnell, and continued operating improvement in the Americas, all contributed to better-than-expected results. Avnet's role at the center of the technology supply chain is now more vital than ever and our focus on maintaining trusted relationships with our customers and suppliers is driving this robust financial performance."