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Apr 02, 2022
Arrow Electronics Q1 2022 Earnings Report
Arrow Electronics reported record sales, gross profit, operating income, and earnings per share.
Key Takeaways
Arrow Electronics reported first-quarter 2022 sales of $9.07 billion, an increase of 8 percent from sales of $8.39 billion in the first quarter of 2021. First-quarter net income was $365 million, or $5.31 per share on a diluted basis. Non-GAAP net income was $373 million, or $5.43 per share on a diluted basis.
First-quarter sales increased 8 percent year over year.
First-quarter net income was $365 million, or $5.31 per share on a diluted basis.
First-quarter non-GAAP net income was $373 million, or $5.43 per share on a diluted basis.
Company repurchased approximately $250 million of shares for the fourth consecutive quarter.
Arrow Electronics
Arrow Electronics
Arrow Electronics Revenue by Segment
Arrow Electronics Revenue by Geographic Location
Revenue by Segment
Global Components Revenue
CapyFin.comGlobal ECS Revenue
CapyFin.comRevenue 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
Consolidated sales of $9.04 billion to $9.64 billion, with global components sales of $7.29 billion to $7.59 billion, and global enterprise computing solutions sales of $1.75 billion to $2.05 billion. Net income per share on a diluted basis of $5.32 to $5.48, and non-GAAP net income per share on a diluted basis of $5.48 to $5.64.
Positive Outlook
- Consolidated sales of $9.04 billion to $9.64 billion
- Global components sales of $7.29 billion to $7.59 billion
- Global enterprise computing solutions sales of $1.75 billion to $2.05 billion
- Net income per share on a diluted basis of $5.32 to $5.48
- Non-GAAP net income per share on a diluted basis of $5.48 to $5.64
Challenges Ahead
- Average tax rate of approximately 23.5 percent compared to the long-term range of 23 to 25 percent
- Expecting average USD-to-Euro exchange rate of $1.08 to €1
- Changes in foreign currencies to decrease sales by approximately $300 million
- Changes in foreign currencies to decrease earnings per share on a diluted basis by $.20 compared to the second quarter of 2021
- Interest expense of approximately $36 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income