From Nasdaq: 2024-05-03 07:56:00

Arrow Electronics (ARW) reported Q1 2024 adjusted earnings of $2.41 per share, beating estimates by 4.33%. Revenues of $6.92 billion were down 21% YoY. Global Component sales decreased 24% to $5.2 billion, while Global ECS revenues were $1.7 billion, down 8%. ARW’s non-GAAP operating income and margin also declined significantly.

In Q1 2024, Arrow Electronics had $242.8 million in cash and $2.63 billion in long-term debt. Operating activities generated $403.2 million in cash. $100 million was returned to shareholders through share repurchases. Q2 2024 sales are estimated between $6.2 billion and $6.8 billion, with expected earnings per share in the range of $2.05-$2.25.

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Read more at Nasdaq: Arrow Electronics (ARW) Q1 Earnings Beat, Revenues Fall Y/Y