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Mar 30, 2024
Arrow Electronics Q1 2024 Earnings Report
Arrow Electronics' first-quarter performance in 2024 was reported, with sales aligning with expectations and non-GAAP EPS exceeding guidance.
Key Takeaways
Arrow Electronics reported first-quarter sales of $6.9 billion, aligning with guidance. The company's earnings per diluted share were $1.53, and non-GAAP earnings per diluted share reached $2.41. The company focused on managing working capital, cost discipline and protecting strategic growth priorities.
Sales of $6.9 billion were in line with guidance.
First-quarter earnings per diluted share were reported as $1.53.
Non-GAAP earnings per diluted share were $2.41, exceeding the high end of the guidance range.
The company generated $403 million in cash flow from operations.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Arrow Electronics anticipates the following for the second quarter of 2024: consolidated sales between $6.20 billion and $6.80 billion, with global components sales of $4.60 billion to $5.00 billion, and global enterprise computing solutions sales of $1.60 billion to $1.80 billion. Net income per share on a diluted basis is projected to be $1.65 to $1.85, with non-GAAP net income per share on a diluted basis of $2.05 to $2.25.
Positive Outlook
- Consolidated sales are expected to be $6.20 billion to $6.80 billion.
- Global components sales are projected to be $4.60 billion to $5.00 billion.
- Global enterprise computing solutions sales are anticipated to be $1.60 billion to $1.80 billion.
- Net income per share on a diluted basis is forecasted at $1.65 to $1.85.
- Non-GAAP net income per share on a diluted basis is expected to be $2.05 to $2.25.
Challenges Ahead
- Changes in foreign currencies are expected to decrease sales by approximately $51 million compared to the second quarter of 2023.
- Changes in foreign currencies are expected to decrease earnings per share on a diluted basis by $0.04 compared to the second quarter of 2023.
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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