Avnet, Inc. (NASDAQ:AVT) Q2 2023 Earnings Conference Call February 1, 2023 4:30 PM ET
Company Participants
Joe Burke - Vice President, Treasury & Investor Relations
Phil Gallagher - Chief Executive Officer
Ken Jacobson - Chief Financial Officer
Conference Call Participants
Melissa Fairbanks - Raymond James
Ruplu Bhattacharya - Bank of America
Matt Sheerin - Stifel
Jim Suva - Citigroup
William Stein - Truist Securities
Joe Quatrochi - Wells Fargo
Operator
Welcome to the Avnet Second Quarter Fiscal Year 2023 Earnings Conference Call.
I would now like to turn the floor over to Joe Burke; Vice President, Treasury and Investor Relations for Avnet.
Joe Burke
Thank you, operator. Earlier this afternoon Avnet released financial results for the second quarter fiscal year 2023. The release is available on the Investor Relations section of the company's website. A copy of the slide presentation that will accompany today's remarks can be found via the link in the earnings release, as well as on the IR section of Avnet's website.
Some of the information contained in the news release and on this conference call contain forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Such forward-looking statements are not the guarantee of performance and the company's actual results could differ materially from those contained in such statements. Several factors that could cause or contribute to such differences are described in detail in Avnet's most recent Form 10-Q and 10-K and subsequent filings with the SEC.
These forward-looking statements speak only as of the date of this presentation and the company undertakes no obligation to publicly update any forward-looking statement or supply new information regarding the circumstances after the date of this presentation.
Today's call will be led by Phil Gallagher, Avnet's CEO; and Ken Jacobson, Avnet's CFO.
With that, let me turn the call over to Phil Gallagher. Phil?
Phil Gallagher
Thank you, Joe, and thank you everyone for joining us on our second quarter fiscal year 2023 earnings conference call. I am pleased to share that we delivered another quarter of solid financial results, which exceeded the higher end of our sales and earnings guidance. More importantly, we achieved these results despite the macro headwinds affecting certain areas of our business, which I'll touch on in a minute.
In the quarter, we grew sales 21% year-over-year in constant currency, making it our eighth consecutive quarter of double-digit year-over-year sales growth. We believe this growth resulted in another quarter of gaining market share, thanks in large part to our customer partnerships and the dedication and execution of our employees.