Arrow Electronics Q3 2023 Earnings Report
Key Takeaways
Arrow Electronics reported third-quarter 2023 sales of $8.01 billion, a decrease of 14 percent year over year. Third-quarter net income was $199 million, or $3.53 per share on a diluted basis. Non-GAAP net income was $233 million, or $4.14 per share on a diluted basis.
Third-quarter earnings per share of $3.53; non-GAAP earnings per share of $4.14.
Revenue of $8.01 billion in line with guidance.
Global components third-quarter sales of $6.25 billion, a decrease of 14 percent year over year.
Global ECS third-quarter sales of $1.76 billion, a decrease of 10 percent year over year.
Arrow Electronics
Arrow Electronics
Arrow Electronics Revenue by Segment
Forward Guidance
Arrow Electronics provided the following outlook for the fourth quarter of 2023: Consolidated sales of $7.50 billion to $8.10 billion, with global components sales of $5.40 billion to $5.80 billion, and global enterprise computing solutions sales of $2.10 billion to $2.30 billion. Net income per share on a diluted basis of $3.30 to $3.50, and non-GAAP net income per share on a diluted basis of $3.61 to $3.81.
Positive Outlook
- Consolidated sales of $7.50 billion to $8.10 billion
- Global components sales of $5.40 billion to $5.80 billion
- Global enterprise computing solutions sales of $2.10 billion to $2.30 billion
- Net income per share on a diluted basis of $3.30 to $3.50
- Non-GAAP net income per share on a diluted basis of $3.61 to $3.81
Revenue & Expenses
Visualization of income flow from segment revenue to net income