The massive earnings beat and strong forward guidance confirm Avnet is in a cyclical upswing, with momentum across all regions and segments. Traders should expect further upward earnings revisions and watch for continued margin expansion as inventory normalizes. The 10% sequential sales guidance for Q1 suggests the cycle still has room to run.
Price Chart
Executive Summary
Avnet reported record Q4 FY2026 sales of $8.3B (+48% YoY) and adjusted diluted EPS of $2.28, beating consensus of $1.77 by 28.8%. Guidance for Q1 FY2027 implies 10% sequential sales growth and adjusted EPS of $2.85, significantly above the just-reported quarter, signaling accelerating demand and strong operating leverage.
Key Financial Metrics
Key Facts
- Record quarterly sales of $8.3B, up 47.7% YoY and 16.5% sequentially
- Adjusted diluted EPS $2.28, up 181.5% YoY, beating $1.77 consensus by 28.8%
- GAAP diluted EPS $1.49 vs $0.07 YoY
- Adjusted operating margin expanded 129bps YoY to 3.8%
- EC segment operating margin reached 4.1% on record $7.8B sales; Farnell operating margin 9.0% on record $500M sales
- Q1 FY2027 guidance: sales $9.0B-$9.3B, adjusted EPS $2.80-$2.90 (midpoint $2.85)
- Inventory days reduced to 71, down 6 days sequentially
Financial Impact
Revenue beat consensus by ~$775M (10.3%); adjusted EPS beat by $0.51 (28.8%). Guidance implies ~10% sequential revenue growth.
Risk Factors
- Cyclical semiconductor downcycle remains a medium-term risk
- Supply chain disruptions or tariff escalation could impact margins
- Inventory normalization may not sustain margin expansion at the same pace
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000008858-26-000066 |
| Document: avt-20260805x8k.htm | 0000008858-26-000066 |
| Document: 0000008858-26-000066-index-headers.html | 0000008858-26-000066 |
| Document: 0000008858-26-000066-index.html | 0000008858-26-000066 |
| Document: 0000008858-26-000066.txt | 0000008858-26-000066 |
| 8-K Data (Synthetic) | 0000008858-26-000066 |
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% | $107.89 (+17.90%) |
Aug 21, 2026 6w ago | Insider Cluster | $88.64 $95.48 | ▲ +7.72% | ▲ +8.24% | $107.89 (+21.72%) |
Aug 14, 2026 7w ago | S-3ASR | $95.71 $92.34 | ▼ −3.52% | ▼ −1.53% | $107.89 (+12.73%) |
Aug 5, 2026 8w ago | 8-K | $97.22 $89.99 | ▼ −7.44% | ▼ −6.84% | $107.89 (+10.98%) |
Apr 29, 2026 22w ago | 8-K | $81.53 $87.06 | ▲ +6.78% | ▲ +1.32% | $107.89 (+32.34%) |
US Market Status
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