Benzinga | Jan 26, 2022 04:55PM EST

Avnet: Q2 Earnings Insights

Avnet (NASDAQ:AVT) reported its Q2 earnings results on Wednesday, January 26, 2022 at 04:05 PM.

Here's what investors need to know about the announcement.

Earnings

Avnet beat estimated earnings by 18.9%, reporting an EPS of $1.51 versus an estimate of $1.27, which surprised analysts.

Revenue was up $1.20 billion from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.14, which was followed by a 2.12% increase in the share price the next day.

Here's a look at Avnet's past performance:



Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021EPS Estimate 1.08 0.79 0.56 0.39EPS Actual 1.22 1.12 0.74 0.48Revenue Estimate 5.29B 5.00B 4.59B 4.27BRevenue Actual 5.58B 5.23B 4.92B 4.67B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Avnet management provided guidance for their next quarter, expecting earnings between $1.45 and $1.55 per share for the next quarter.

This represents a -0.66% in quarter-over-quarter growth for Avnet, a bearish signal to many investors.

To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.

This article was generated by Benzinga's automated content engine and reviewed by an editor.