Arrow Electronics Earnings Presentation Second Quarter 2024 August 1, 2024 Safe harbor This presentation includes "forward-looking" statements, as the term is defined under the federal securities laws, including but not limited to statements regarding: Arrow's future financial performance, including its outlook on financial results for the third quarter of fiscal 2024 such as sales, net income per diluted share, non-GAAP net income per diluted share, average tax rate, interest and other expense, impact to s ...

For the quarter ended June 2024, Arrow Electronics (ARW) reported revenue of $6.89 billion, down 19.1% over the same period last year. EPS came in at $2.78, compared to $4.37 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $6.51 billion, representing a surprise of +5.91%. The company delivered an EPS surprise of +28.70%, with the consensus EPS estimate being $2.16.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall St ...

Arrow Electronics (ARW) came out with quarterly earnings of $2.78 per share, beating the Zacks Consensus Estimate of $2.16 per share. This compares to earnings of $4.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 28.70%. A quarter ago, it was expected that this electronics maker would post earnings of $2.31 per share when it actually produced earnings of $2.41, delivering a surprise of 4.33%.Over the last four quarters, th ...

Sales Performance - Second-quarter 2024 sales reached $6.9 billion, exceeding guidance, with a year-over-year decrease of 19%[1][3] - Sales for the quarter ended June 29, 2024, were $6,892,868, a decrease of 19.1% compared to $8,514,516 for the same quarter in 2023[23] - Consolidated sales for the quarter ended June 29, 2024, were $6,892,868, a decrease of 19.0% compared to $8,514,516 for the same period in 2023[32] - For the six months ended June 29, 2024, consolidated sales were $13,817,128, reflecting a 19.9% decrease from $17,250,944 in the same period of 2023[34] Income and Earnings - Net income attributable to shareholders for the second quarter was $109 million, down from $237 million in the same quarter last year[3] - Consolidated net income attributable to shareholders for the quarter was $108,698, a decrease of 54.0% compared to $236,559 in the prior year[23] - Basic net income per share for the quarter was $2.03, down from $4.17 in the same quarter last year[23] - The company anticipates a net income per share on a diluted basis of $1.70 to $1.90 for the third quarter[17] - The effective tax rate for the quarter was 21.4%, slightly lower than the 22.4% reported in the previous year[35] - The company reported a diluted net income per share of $2.01 for the quarter, down from $4.12 in the same quarter of 2023[35] Operating Performance - Gross profit for the quarter was $846,444, down 20.6% from $1,066,049 in the prior year[23] - Operating income decreased to $212,275, representing a decline of 46.0% from $392,250 in the same quarter last year[23] - Global components operating income for the quarter was $210,201, down from $381,314, a decline of about 44.8%[47] - Global ECS operating income increased to $102,581 from $86,228, marking a growth of approximately 18.9%[47] - Corporate operating loss for the quarter was $(100,507), compared to $(75,292) in the same quarter last year, indicating a worsening of approximately 33.5%[45] Sales by Segment - Global components sales in the second quarter were $5.0 billion, a 25% decrease year-over-year, with EMEA components down 33%[5] - Global components sales reported for the quarter were $5,032,031, down 24.7% from $6,682,882 year-over-year[32] - Americas components sales decreased by 23.9% to $1,572,840 from $2,066,562 in the prior year[32] - EMEA components sales saw a significant decline of 33.2%, falling to $1,439,494 from $2,153,479[32] - Global enterprise computing solutions (ECS) sales increased by 2% year-over-year to $1.9 billion, with EMEA ECS sales up 8%[8] - Global ECS sales for the quarter were $1,860,837, slightly up from $1,831,634 year-over-year, indicating a growth of about 1.2%[43] Cash Flow and Inventory - Cash flow from operations generated in the second quarter was $320 million, allowing for $50 million in share repurchases[9] - The company reduced inventory levels by approximately $140 million in the second quarter, totaling $1.2 billion over the last nine months[9] - Net cash provided by operating activities for the quarter was $320,181, compared to a net cash used of $(126,804) in the same quarter last year[27] Currency Impact - Changes in foreign currencies negatively impacted sales by approximately $52.2 million and earnings per share by $0.05 compared to the second quarter of 2023[3] Restructuring and Charges - The company incurred restructuring and integration charges of $40.5 million for the second quarter of 2024, compared to $10.3 million in the same quarter of 2023, indicating a significant increase in costs[45] - The company recorded charges of $1.6 million and $12.1 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2024, respectively[43]

Arrow Electronics (ARW) has announced a groundbreaking data-communication reference design for electric vehicle (EV) charging, potentially revolutionizing the EV supply equipment (EVSE) market. This development comes at a crucial time as the automotive industry continues its rapid shift toward electrification.The new reference design combines advanced software stacks for cutting-edge protocols with a HomePlug Green PHY hardware module. This integration is set to significantly reduce time-to-market for EVSE ...

Arrow Electronics (ARW) has unveiled an innovative AI-powered steering system that promises to redefine the future of vehicle control in a groundbreaking development for mobility technology.This cutting-edge system, designed for ARW's Semi-Autonomous Mobility Car, utilizes facial recognition technology and is built around an advanced NVIDIA processor.The new steering mechanism was tested by quadriplegic racecar driver Sam Schmidt, who successfully maneuvered the vehicle at competitive speeds using only head ...

Arrow Electronics (ARW) is a Zacks Rank #5 (Strong Sell) as earnings estimates have tracked lower after a recent earnings beat.  The company makes electronic components for a wide range of industries. This article will look at why this stock is a Zacks Rank #5 (Strong Sell) as it is the Bear of the Day.DescriptionArrow Electronics, Inc. engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates und ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Custom Truck One Source (CTOS) is a provider of specialized truck and heavy equipment solutions to the utility, telecommunications, rail and infrastructure markets principally in North America. The Zacks Consensus Estimate for its current year earnings has been revised 44.4% downward over the last 60 days.Arrow Electronics (ARW) is one of the world’s largest distributors of electronic components and enterprise computing products. The ...

Generally speaking, in the market and in life, there’s safety in numbers. And in many (maybe most) cases, it’s better to go with the crowd. However, there are also times when it makes sense to zig while others zag, which segues into contrarian stocks.Frankly, these ideas are unloved by the experts. Because of that, it’s difficult to properly assess their true value. With analyst sell ratings come downgraded financial projections. So, on paper, it looks like you’re buying into value traps.I’m not going to di ...

Arrow Electronics (ARW) has collaborated with Resideo Technologies (REZI) to help Habitat for Humanity create smart home technology in Aurora, CO. This partnership aims to enhance the quality of life for residents in the Mountain View Community Homes, providing them with secure, convenient and energy-efficient living spaces at no additional cost.Both companies are equipping each home in the Mountain View Community with a suite of smart home devices. These include products from Resideo's First Alert and Hone ...