Avnet, Inc. (NASDAQ:AVT) Q1 2025 Earnings Conference Call October 30, 2024 12:00 PM ET

Company Participants

Joe Burke - Vice President, Treasurer & Investor Relations
Phil Gallagher - Chief Executive Officer
Ken Jacobson - Chief Financial Officer

Conference Call Participants

Joe Quatrochi - Wells Fargo
Ruplu Bhattacharya - Bank of America
Matt Sheerin - Stifel
William Stein - Truist Securities

Operator

Welcome to the Avnet First Quarter Fiscal Year 2025 Earnings Call. I would now like to turn the floor over to Joe Burke, Vice President of Treasury and Investor Relations for Avnet.

Joe Burke

Thanks, operator. I'd like to welcome everyone to the Avnet first quarter fiscal year 2025 earnings conference call. This morning, Avnet released financial results for the first quarter of fiscal year 2025 and the release is available on the Investor Relations section of Avnet's website, along with a slide presentation, which you may access at your convenience.

As a reminder, 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.

Please note, unless otherwise stated, all results provided will be non-GAAP measures. The full non-GAAP to GAAP reconciliation can be found in the press release issued today as well as in the appendix slides of today's presentation and posted on the Investor Relations website. 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 first quarter fiscal year 2025 earnings call. In the quarter, we achieved sales of more than $5.6 billion and adjusted EPS of $0.92, both above the high end of our guidance. We also generated over $100 million of cash flow from operations in the quarter. Our results were primarily driven by our strong performance in Asia, offset by continued weakness in the West and at Farnell.