Arrow Electronics Q4 2020 Earnings Report
Key Takeaways
Arrow Electronics reported a strong fourth quarter with sales of $8.45 billion, a 15% increase year-over-year. Net income was $236 million, or $3.08 per share, compared to $112 million, or $1.36 per share in Q4 2019. Non-GAAP net income was $243 million, or $3.17 per share, compared to $181 million, or $2.20 per share in the prior year.
Fourth-quarter sales increased 15% year-over-year to $8.45 billion.
Fourth-quarter net income was $236 million, or $3.08 per share.
Fourth-quarter non-GAAP net income was $243 million, or $3.17 per share.
Full-year cash provided by operating activities was $1.36 billion.
Arrow Electronics
Arrow Electronics
Arrow Electronics Revenue by Segment
Forward Guidance
Arrow Electronics provides first-quarter 2021 outlook with consolidated sales between $7.625 billion and $8.225 billion, and non-GAAP net income per share on a diluted basis of $2.17 to $2.33.
Positive Outlook
- Consolidated sales of $7.625 billion to $8.225 billion.
- Global components sales of $5.825 billion to $6.125 billion.
- Global enterprise computing solutions sales of $1.8 billion to $2.1 billion.
- Net income per share on a diluted basis of $2.02 to $2.18.
- Non-GAAP net income per share on a diluted basis of $2.17 to $2.33.
Challenges Ahead
- Average tax rate of approximately 24.5%
- Interest expense of approximately $31 million
- Expecting average USD-to-Euro exchange rate of $1.23 to €1
- Changes in foreign currencies to increase sales by approximately $235 million
- Earnings per share on a diluted basis by $.12 compared to the first quarter of 2020
Revenue & Expenses
Visualization of income flow from segment revenue to net income