Avnet reports strong Q1 results
Story Highlights
- Avnet reported $5.9 billion revenue in Q1 2026
- Asia Pacific sales grew 9.9% year-over-year to $2.8 billion
- Avnet plans to open new global headquarters in Tempe
Avnet Inc. reported an uptick in revenue during its first fiscal quarter of 2026, led by double-digital sales growth in the Asia Pacific region and its Farnell subsidiary.
The Phoenix-based global electronics component distributor generated $5.9 billion in revenue during fiscal Q1 that ended Sept. 30, a 5% increase from $5.6 billion the prior-year quarter, according to a regulatory filing on Wednesday.
The company’s quarterly financial results also exceeded Wall Street expectations as the Zacks Consensus Estimate predicted quarterly revenue of $5.7 billion.
“We’re encouraged by the increasing number of positive signs in our business. We feel good about the recovery in Asia Pacific and progress in the Americas,” Phil Gallagher, Avnet’s CEO, said during an earnings call with analysts.
Avnet’s electronic components segment — a significant part of its business — generated $5.5 billion in sales, a 4.6% increase compared to the prior year. The company saw an 9.9% year-over-year increase in Asia market sales with that segment generating $2.8 billion in the first fiscal quarter.