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Home » Distribution Industry News » Avnet Sales Up 35.7% in 1Q 2022 

Date

  • Published on: May 2, 2022

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  • Jonathan Bein Jonathan Bein

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Distribution Industry News

Avnet Sales Up 35.7% in 1Q 2022 

Electronic component distributor Avnet, Inc. (Nasdaq: AVT) announced its third-quarter fiscal results ending April 2, 2022, were $6.5 billion, up 35.7% year-over-year.  

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Farnell operating margins increased 123 basis points sequentially to 14.9%, and Electronic Components operating margins increased 92 basis points sequentially to 4.4%.  

Net income was $183 million, up from $107 million in the prior-year period.  

“We are pleased to report another strong quarter of sales and operating margin growth. Farnell achieved record operating margin as our continued investments in inventory breadth, and e-commerce capabilities continue to pay off. Supported by increased sales, the Americas expanded operating margins for the fifth consecutive quarter,” Avnet CEO Phil Gallagher said.  

Jonathan Bein

Jonathan Bein

Jonathan Bein, Ph.D. is Managing Partner at Distribution Strategy Group. He’s developed customer-facing analytics approaches for customer segmentation, customer lifecycle management, positioning and messaging, pricing and channel strategy for distributors that want to align their sales and marketing resources with how their customers want to shop and buy. If you’re ready to drive real ROI, reach out to Jonathan today at [email protected].

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