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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.
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
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.
- Changes in foreign currencies are expected to decrease quarter-over-quarter growth in sales by $29 million compared to the first quarter of 2024.
- Changes in foreign currencies are expected to decrease earnings per share on a diluted basis by $0.04 compared to the first quarter of 2024.
- Interest expense is estimated to be approximately $75 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income