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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.
Revenue by Segment
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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