Avnet Inc at Nasdaq Investor Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jack Cassel - Nasdaq - Analyst : So maybe just to kick things off for the audience, let's level set on overview of Avnet today.

Question: Jack Cassel - Nasdaq - Analyst : Let's then maybe double click into what you view as the competitive advantage for Avnet's from automation to geography. And then maybe we can a second question would just be around the pricing element for the model? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 11, 2024 / 10:00AM, AVT.OQ - Avnet Inc at Nasdaq Investor Conference

Question: Jack Cassel - Nasdaq - Analyst : All right. Now we are in the middle or maybe even at the end of a prolonged cycle, I guess, what do you feel is different about this cycle? And what's your outlook on how Avnet will fare going forward?

Question: Jack Cassel - Nasdaq - Analyst : Maybe off that, how many months or quarters do you typically have from a visibility standpoint? For example, how far in advance are you able to forecast the customer's needs?

Question: Jack Cassel - Nasdaq - Analyst : And do you believe the past few years have permanently changed the way distributors are used?

Question: Jack Cassel - Nasdaq - Analyst : Okay. Switching gears, but it wouldn't be a conversation in 2024 without asking about AI. So how does Avnet play in AI as a semi distributor?

Question: Jack Cassel - Nasdaq - Analyst : Good point. And maybe let's talk about your recent earning calls in terms of your financials and outlook. Maybe you can just kind of give an overview on that.

Question: Jack Cassel - Nasdaq - Analyst : Maybe sticking with Asia. What would you identify as the key drivers, and kind of that uptick that you've seen? And also do you believe that's sustainable heading into '25 and beyond?

Question: Jack Cassel - Nasdaq - Analyst : Sticking with demand, what are you seeing, I mean, you kind of covered the regional basis but also maybe which end markets or verticals are you seeing that could be the strongest or even the weakest?

Question: Jack Cassel - Nasdaq - Analyst : Okay. Farnell has had a tough go recently. Can you give us an update on that business, and why Avnet's confident on improving its margin profile?

Question: Jack Cassel - Nasdaq - Analyst : Okay, excited. You both mentioned the counter cyclical nature of the balance sheet. What are your thoughts on the working capital requirements over the next few quarters of free cash flow?

Question: Jack Cassel - Nasdaq - Analyst : Fine. Investors have been concerned that distribution runs the risk of this intermediation that more suppliers will shift to a direct distribution model, what are you seeing from your seats?

Question: Jack Cassel - Nasdaq - Analyst : I've got a few more questions. But at this point, I did want to open it up to the audience to see if we have any questions. Don't be bashful.

Question: Jack Cassel - Nasdaq - Analyst : Okay. Maybe in closing, what's -- as you've been meeting with investors and for the audience, what's one maybe key takeaway for the Avnet story that you want to make sure everybody hears?

Question: Jack Cassel - Nasdaq - Analyst : That's that. Last call, any questions from the audience? Cool. Well, Ken, Joe, thank you so much for taking the time to speak with us today. It's very insightful and educational, and excited to see Avnet's continued scale.