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Oct 01, 2022
Arrow Electronics Q3 2022 Earnings Report
Reported record sales, gross profit, operating income, and earnings per share.
Key Takeaways
Arrow Electronics reported a strong third quarter in 2022, achieving record sales of $9.27 billion, a 9% increase year-over-year. The company's net income was $342 million, or $5.27 per share, while non-GAAP net income reached $354 million, or $5.45 per share.
Third-quarter sales increased by 9 percent year over year.
Third-quarter net income was $342 million, or $5.27 per share on a diluted basis.
Non-GAAP net income was $354 million, or $5.45 per share on a diluted basis.
The company repurchased $259 million of shares in the third quarter of 2022.
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 consolidated sales between $8.95 billion and $9.55 billion for Q4 2022. The company projects net income per share (diluted) to be $5.44 to $5.64, and non-GAAP net income per share (diluted) of $5.60 to $5.80.
Positive Outlook
- Global components sales of $6.80 billion to $7.10 billion
- Global enterprise computing solutions sales of $2.15 billion to $2.45 billion
- Average tax rate of approximately 23.5 percent
- Average diluted shares outstanding of 62 million
- Interest expense of approximately $62 million
Challenges Ahead
- Changes in foreign currencies to reduce year over year growth in sales by $420 million
- Changes in foreign currencies to reduce year over year diluted EPS by $0.25
- Changes in foreign currencies to reduce quarter over quarter growth in sales by $100 million
- Changes in foreign currencies to reduce quarter over quarter diluted EPS by $0.07
- USD-to-Euro exchange rate for the fourth quarter of 2022 to be $0.98 to €1 compared to $1.14 to €1 in the fourth quarter of 2021
Revenue & Expenses
Visualization of income flow from segment revenue to net income