Financial Data and Key Metrics Changes - Third quarter sales were $7.02 billion, a decrease of 3% year-over-year when adjusted for the wind-down of the PC and mobility asset disposition business [15] - Net income was $155 million, down 17% year-over-year as adjusted, with earnings per share of $1.86, down 12% year-over-year on an adjusted basis [21] - Total company operating expenses decreased 9% year-over-year [20] Business Line Data and Key Metrics Changes - Global components sales were $4.99 billion, representing a 4% year-over-year decrease adjusted for the wind-down and changes in foreign currencies [16] - Enterprise computing solutions sales were $2.03 billion, a decrease of 2% year-over-year as adjusted, with operating income increasing by 12% year-over-year [19] Market Data and Key Metrics Changes - Demand environment for components deteriorated during the third quarter, with a book-to-bill ratio of 0.91, below parity in all regions [9] - In the Americas, sales decreased 15% year-over-year as adjusted, while Europe saw a 2% year-over-year decrease [17] Company Strategy and Development Direction - The company is focused on being the leading enabler of next-generation technology solutions, with a strong emphasis on engineering and supply chain services [12] - The strategy includes adapting to market conditions and optimizing costs while maintaining a focus on long-term growth [14] Management's Comments on Operating Environment and Future Outlook - Management indicated that the markets are "bouncing along the bottom" and does not expect significant changes in demand conditions in the near term [70] - There are signs of improvement in the book-to-bill ratio, suggesting potential stabilization in the market [70] Other Important Information - The effective tax rate for the quarter was 22.3%, below the prior target range, and is expected to remain at the low end of the target range in the fourth quarter [20] - The company repurchased approximately 1.4 million shares or $100 million during the quarter, with a total of $440 million repurchased over the last 12 months [22][23] Q&A Session Summary Question: Will gross margin remain at depressed levels? - Management expects gross margin to remain depressed in the fourth quarter, with potential slight improvements depending on market conditions [27] Question: What is the outlook for ECS? - Management believes ECS has turned a corner, with operating income expected to grow in the fourth quarter due to strength in software and storage [42][43] Question: How is inventory at customers trending, particularly in Asia? - The company noted that customers in China hold less inventory, leading to less cyclical swings in demand [60] Question: What are the priorities for cash use? - The company stated that its priorities are share repurchases and debt reduction [76]

Arrow Electronics, Inc. (NYSE:ARW) Q2 2019 Results Conference Call August 1, 2019 1:00 PM ET Company Participants Steve O’Brien - VP, IR Mike Long - Chairman, President and CEO Chris Stansbury - SVP and CFO Sean Kerins - President, Global Enterprise Computing Solutions Conference Call Participants Adam Tindle - Raymond James Shawn Harrison - Longbow Research Joe Quatrochi - Wells Fargo Mark Delaney - Goldman Sachs Matt Sheerin - Stifel Steven Fox - Cross Research Tim Yang - Citi William Stein - SunTrust Par ...

Financial Data and Key Metrics Changes - First quarter sales reached $7.16 billion, a 4% year-over-year increase, and a 7% increase when adjusted for foreign currency changes [17] - Net income was $158 million, down 1% year-over-year when adjusted for foreign currency changes, and down 6% year-over-year as reported [22] - Earnings per share were $1.84 on a diluted basis, reflecting a 2% increase year-over-year adjusted for foreign currency changes, but a 3% decrease as reported [22] - Operating cash flow was negative $329 million, greater than expected due to inventory mix and changes in collection timing [23] Business Line Data and Key Metrics Changes - Global components sales were $5.19 billion, a 5% year-over-year increase, and an 8% increase when adjusted for foreign currency changes [17] - Enterprise computing solutions sales were $1.96 billion, a 6% year-over-year increase when adjusted for foreign currency changes, and a 1% increase as reported [20] - Global components operating income increased 2% year-over-year, but operating margin decreased by 10 basis points [19] Market Data and Key Metrics Changes - In Europe, sales increased 10% year-over-year when adjusted for foreign currency changes, marking 24 consecutive quarters of year-over-year growth [17] - In the Americas, sales increased 6% year-over-year, driven by demand for lower-cost commodity parts [18] - Asia sales increased 8% year-over-year, attributed to strong volume in the lower-margin wireless device business [18] Company Strategy and Development Direction - The company launched ArrowPlus, an engineering marketplace platform aimed at transforming product design and development processes [10] - The focus remains on leveraging engineering services and expanding customer base, with a commitment to maintaining a diverse portfolio across industries [15] - The company is addressing challenges in its ancillary business that negatively impacted performance, with plans to announce changes by midyear [19] Management's Comments on Operating Environment and Future Outlook - Management noted a market change in the global components space, with lower margins and delayed cash flow expected to persist into the second quarter [6] - Despite challenges, the company delivered sales above expectations and anticipates normalization as the industry returns to balance [9] - Management expects a two-quarter event for margin pressure, with design activity still growing year-over-year [30] Other Important Information - The company repurchased approximately 0.5 million shares for $40 million during the quarter, with a total of approximately $1.2 billion repurchased over the last five years [23] - Guidance for second quarter sales is projected between $7.525 billion and $7.925 billion, with global components sales between $5.5 billion and $5.7 billion [24] Q&A Session Summary Question: Why is there a delay in experiencing weak dynamics compared to peers? - Management indicated that historical trends show a delayed weakness from suppliers, particularly due to their initial business in China, and noted that high dollar products in inventory were pushed out late in the quarter [27][28] Question: When can normalization of highly engineered demand be expected? - Management anticipates a normalization within two quarters based on current bookings and design win activity [30] Question: Is there something driving revenue above normal seasonality despite a weaker demand environment? - Management explained that faster growth in Asia and a shift in product mix contributed to the revenue increase, although returns in Asia are lower than in the U.S. and Europe [34][35] Question: How will operating income growth be affected in the second half of the year? - Management expects to correct margin declines related to an ancillary business by midyear, with improvements anticipated in the second half [42] Question: What is the outlook for cash flow and capital expenditures? - Management indicated that CapEx will focus on warehousing investments, with a tight management approach to overall expenditures [84]

Arrow Electronics, Inc. (NYSE:ARW) Q4 2018 Earnings Conference Call February 7, 2019 1:00 PM ET Company Participants Steve O'Brien - Vice President, Investor Relations Mike Long - Chairman, President & Chief Executive Officer Chris Stansbury - Senior Vice President & Chief Financial Officer Andy King - President, Global Components Sean Kerins - President, Global Enterprise Computing Solutions Conference Call Participants Mark Delaney - Goldman Sachs Adam Tindle - Raymond James Shawn Harrison - Longbow Resea ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4482 ARROW ELECTRONICS INC (Exact name of registrant as specified in its charter) New York 11-1806155 (State or other jurisdiction of (I.R.S. Empl ...