The strong beat and raised guidance signal accelerating demand across all regions and operating leverage. Expect positive stock reaction; watch Q4 for margin progression and working capital trends.
Price Chart
Executive Summary
Avnet reported strong Q3 FY2026 results with adjusted EPS of $1.48 (beat consensus $1.33 by 11.3%) and revenue of $7.12B (up 34% YoY). Q4 guidance was raised to adjusted EPS of $1.70-$1.80 and revenue of $7.30B-$7.60B, implying continued sequential growth and margin expansion.
Key Financial Metrics
Key Facts
- Adjusted diluted EPS of $1.48 vs consensus $1.33 (+11.3%)
- Revenue $7.12B, +34% YoY, +12.7% sequentially
- Adjusted operating margin expanded 38 bps QoQ to 3.1%
- Q4 FY2026 guidance: sales $7.30B-$7.60B, adjusted EPS $1.70-$1.80
- EC segment sales record, all regions grew YoY and sequentially
- Inventories reduced to 77 days, EC below 70 days
Financial Impact
Adjusted EPS beat by $0.15 on $7.12B revenue; guidance midpoint $7.45B/$1.75 implies ~5% sequential sales growth and ~18% sequential EPS growth
Risk Factors
- Cash flow from operations was negative $54M in Q3 due to working capital investment for sales growth
- Semiconductor cycle downturn or supply chain disruptions could impact future quarters
- Geopolitical risks in Asia and EMEA regions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000008858-26-000040 |
| Document: avt-20260429x8k.htm | 0000008858-26-000040 |
| Document: 0000008858-26-000040-index-headers.html | 0000008858-26-000040 |
| Document: 0000008858-26-000040-index.html | 0000008858-26-000040 |
| Document: 0000008858-26-000040.txt | 0000008858-26-000040 |
| 8-K Data (Synthetic) | 0000008858-26-000040 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Institutional Cluster | $91.52 $100.91 | ▲ +10.27% | ▲ +10.77% | $106.93 (+16.85%) |
Aug 21, 2026 6w ago | Insider Cluster | $88.64 $95.48 | ▲ +7.72% | ▲ +8.24% | $106.93 (+20.64%) |
Aug 14, 2026 7w ago | S-3ASR | $95.71 $92.34 | ▼ −3.52% | ▼ −1.53% | $106.93 (+11.73%) |
Aug 5, 2026 8w ago | 8-K | $97.22 $89.99 | ▼ −7.44% | ▼ −6.84% | $106.93 (+9.99%) |
Apr 29, 2026 22w ago | 8-K | $81.53 $87.06 | ▲ +6.78% | ▲ +1.32% | $106.93 (+31.16%) |
US Market Status
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