Avnet Inc. (Nasdaq: AVT), Phoenix, Ariz., electronic components distributor, reported sales for its 2024 fiscal year ended June 29, 2024, were $23.8 billion, down 10.5% from the previous year. Profit for the fiscal year was $499 million.
Don’t miss any content from Distribution Strategy Group. Join our list.
Avnet also reported sales for its fiscal 2024 fourth quarter ended June 29, 2024, were $5.6 billion, down 15.1% from the prior-year period. Profit for the quarter was $82 million.
“We are pleased with our fiscal 2024 performance as we executed well, despite some challenging market conditions,” said Avnet CEO Phil Gallagher. “We are well positioned entering into fiscal year 2025 and I am confident we have the right team and strategy in place to benefit from the eventual market recovery.”
Avnet operates 14 distribution centers around the world.
