Avnet to Host 2022 Investor Day and Ring NASDAQ Opening Bell Today
Avnet to Ring Opening Bell at
Avnet Expands Share Repurchase Authorization to
- Growth in higher margin revenue with a path to sustainable operating margins of greater than 5% for total Avnet
Higher margin businesses expanding to contribute greater than 50% of total gross profit:
Farnell growth expansion targeting annual revenue of
$3 billionwith 10-15% operating margins
Embedded growth targeting annual revenue of
$1 billionwith 10%+ operating margin
Interconnect, passive and electomechanical business growth targeting annual revenues of
$5.5 billionwith annual CAGR of 8% to 10%.
- Farnell growth expansion targeting annual revenue of
Avnet is also announcing adoption of a new share repurchase plan to repurchase up to a total of
In addition, the event will include a customer and supplier panel that will discuss industry trends and the value of Avnet’s role as a vital link at the center of the supply chain.
All attendees must be pre-registered to attend in-person at the NASDAQ Marketsite. The event is expected to run from
Ahead of its Investor Day, Avnet will ring the NASDAQ Opening Bell. Avnet’s Chief Executive Officer,
New Share Repurchase Plan
Avnet today announced that its Board of Directors has approved the repurchase of up to an aggregate of
Avnet plans to repurchase shares from time to time at the discretion of management in open market or privately negotiated transactions or pursuant to one or more derivatives transactions, including but not limited to forward repurchases and accelerated share repurchases, subject to applicable laws, regulations and approvals, strategic considerations, market conditions and other factors. Avnet may terminate or limit the 2022 Plan at any time without prior notice.
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the presentation highlights. These forward-looking statements are subject to numerous assumptions, risks and uncertainties. Please see the Risk Factors disclosed in Avnet’s Annual Report on Form 10-K for the fiscal year ended
As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for an entire century. We support customers at each stage of a product’s lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com. (AVT_IR)
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