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Apr 03, 2021
Arrow Electronics Q1 2021 Earnings Report
Reported record first-quarter sales, operating income, net income and earnings per share.
Key Takeaways
Arrow Electronics reported first-quarter 2021 sales of $8.39 billion, a 31 percent increase from the previous year. First-quarter net income was $206 million, or $2.72 per share, compared to $50 million, or $0.61 per share in the first quarter of 2020.
First-quarter sales increased by 31% year over year, reaching $8.39 billion.
Net income for the first quarter was $206 million, or $2.72 per share.
Global components sales increased by 42% year over year.
Global enterprise computing solutions sales increased by 6% year over year.
Arrow Electronics
Arrow Electronics
Arrow Electronics Revenue by Geographic Location
Revenue by Geographic Location
Americas Components Revenue
CapyFin.comAsiaPacific Components Revenue
CapyFin.comEMEA Components Revenue
CapyFin.comAmericas ECS Revenue
CapyFin.comEMEA ECS Revenue
CapyFin.com Forward Guidance
Arrow Electronics anticipates consolidated sales between $8.1 billion and $8.7 billion for the second quarter of 2021. Net income per share is expected to be $2.67 to $2.83, with non-GAAP net income per share estimated at $2.82 to $2.98.
Positive Outlook
- Consolidated sales of $8.1 billion to $8.7 billion
- Global components sales of $6.3 billion to $6.6 billion
- Global enterprise computing solutions sales of $1.8 billion to $2.1 billion
- Net income per share on a diluted basis of $2.67 to $2.83
- Non-GAAP net income per share on a diluted basis of $2.82 to $2.98
Challenges Ahead
- Average tax rate of approximately 23 percent
- Average diluted shares outstanding of 75 million
- Interest expense of approximately $33 million
- Expecting average USD-to-Euro exchange rate of $1.18 to €1
- Changes in foreign currencies to increase sales by approximately $150 million, and earnings per share on a diluted basis by $.08 compared to the second quarter of 2020
Revenue & Expenses
Visualization of income flow from segment revenue to net income