Avnet, Inc. (NASDAQ:AVT) Q4 2022 Earnings Conference Call August 10, 2022 4:30 PM ET
Company Participants
Joe Burke - VP, Treasury & IR
Phil Gallagher - CEO
Tom Liguori - CFO
Ken Jacobson - CFO
Conference Call Participants
Nik Todorov - Longbow Research
Toshiya Hari - Goldman Sachs
Jim Suva - Citigroup
Ruplu Bhattacharya - Bank of America
Matt Sheerin - Stifel
William Stein - Truist Securities
Joe Quatrochi - Wells Fargo
Joe Cardoso - JPMorgan
Operator
Welcome to the Avnet Fourth Quarter Fiscal Year 2022 Earnings 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, Paul. Earlier this afternoon, Avnet released financial results for the fourth quarter and fiscal year 2022. 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 statements 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 Tom Liguori, Avnet's CFO; and Ken Jacobson, Avnet's Corporate Controller and incoming CFO this September.
With that, let me turn the call over to Phil Gallagher. Phil?
Phil Gallagher
Thank you, Joe, and thank you, everyone for joining our fourth quarter and fiscal year 2022 earnings conference call. What a year it has been for Avnet. On the heels of our centennial anniversary, we've built on the prior year's momentum to deliver robust financial results, including a record EPS year, nearly reaching $7 for the fiscal year. Our sales for the fiscal year were up nearly 25% year-over-year. This was supported by a strong year for Electronic Components and notably, a record revenue year for Farnell. We had a great performance from both operating groups, and we are really excited about the revenue synergies we are seeing between the two as well.