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Jun 29, 2024
Arrow Electronics Q2 2024 Earnings Report
Arrow Electronics' second quarter performance in 2024 was reported, with sales exceeding guidance and non-GAAP earnings per diluted share surpassing expectations.
Key Takeaways
Arrow Electronics reported second-quarter sales of $6.89 billion, exceeding guidance. The company's GAAP earnings per diluted share was $2.01, and non-GAAP earnings per diluted share was $2.78. The company generated $320 million in cash flow from operations and repurchased $50 million in shares.
Second-quarter sales reached $6.9 billion, surpassing expectations.
Earnings per diluted share were reported at $2.01, while non-GAAP earnings per diluted share amounted to $2.78.
Global components sales decreased 25 percent year over year.
Global ECS sales increased 2 percent year over year.
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 for Q3 2024 consolidated sales between $6.37 billion and $6.97 billion, with global components sales between $4.70 billion and $5.10 billion, and global enterprise computing solutions sales between $1.67 billion and $1.87 billion. Net income per share on a diluted basis is projected to be $1.70 to $1.90, and non-GAAP net income per share on a diluted basis is expected to be $2.10 to $2.30.
Positive Outlook
- Consolidated sales of $6.37 billion to $6.97 billion
- Global components sales of $4.70 billion to $5.10 billion
- Global enterprise computing solutions sales of $1.67 billion to $1.87 billion
- Net income per share on a diluted basis of $1.70 to $1.90
- Non-GAAP net income per share on a diluted basis of $2.10 to $2.30
Challenges Ahead
- Average tax rate in the range of 23 to 25 percent
- Interest expense of approximately $70 million
- Changes in foreign currencies to increase sales by approximately $7 million, and to have no impact on earnings per share on a diluted basis compared to the third quarter of 2023
- Changes in foreign currencies to increase quarter-over-quarter growth in sales by $30 million
- Changes in foreign currencies to increase quarter-over-quarter earnings per share on a diluted basis by $0.02 compared to the second quarter of 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income