Avnet, Inc. (NASDAQ:AVT) Q3 2024 Earnings Call Transcript

We talked about transportation earlier with Will a bit. That’s going to be a good market for us. It continues to be and will be in the future, we’re continuing to invest in that space. The other vertical, the defense/aerospace, unfortunately, with what’s going on in the world today, that’s going to continue to grow many fronts. So there are a handful of verticals. And then inside the company, we talked about in the script, our continued focus is on IP&E. We’re starting to see that move back into a positive, which is good news, particularly from a book-to-bill. And we talked about Avnet Embedded. And again, that’s a business that’s continuing to grow, generates higher margins for us. That’s where we’re actually building — designing and building manufacturing boards to go into those same verticals I just talked about, including medical.

Those would be a couple of areas that we’re focused on right now and we want to continue to maintain that focus, and again, not overreact, okay? And have the pendulum swing that we may have seen in the past, manage what we can, drive the inventories down, generate cash while servicing our customers and suppliers.

Operator: There are no further questions at this time. I’d like to hand the floor back over to Phil Gallagher for any closing comments.

Phil Gallagher: Great. Well, I want to thank everyone for attending today’s earnings call, and I look forward to speaking to you again in our fourth quarter fiscal year 2024 earnings report in August. Have a great summer.

Operator: Ladies and gentlemen, this does conclude today’s conference. You may disconnect your lines at this time. Thank you for your participation.