Avnet (NASDAQ:AVT) reported robust financial results for its fiscal third quarter ended March 28, 2026, characterized by double-digit growth across all operating regions and segments.
The Phoenix-based technology distributor posted total sales of $7.1 billion, representing a 34% increase year-over-year and a 13% sequential climb.
The results were bolstered by a synchronized recovery in global markets, with both the Electronic Components (EC) and Farnell segments delivering year-over-year and sequential gains.
The company's profitability saw a sharp upward trajectory as it capitalized on improved operating leverage.
Adjusted diluted earnings per share (EPS) surged 76% year-over-year to $1.48, while GAAP diluted EPS rose 13% to $1.14.
On a sequential basis, adjusted EPS climbed 41%, reflecting a rapid acceleration in the company’s bottom-line performance.
Profitability was further supported by a 58-basis-point sequential expansion in operating income margin, which reached 2.9%, while the adjusted operating margin expanded to 3.1%.
A primary driver of the quarter’s success was the continued momentum at Farnell, which reported its third consecutive quarter of double-digit year-over-year sales growth.
Farnell’s operating margin expanded to 5.2%, marking its sixth consecutive quarter of margin improvement.
Simultaneously, the core Electronic Components segment saw its operating margin rise to 3.5%, its second consecutive quarter of expansion, as the company efficiently navigated shifting supply chain dynamics across its diverse geographic footprint.