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Dec 31, 2021
Arrow Electronics Q4 2021 Earnings Report
Reported record fourth-quarter and full-year sales, gross profit, operating income, and earnings per share.
Key Takeaways
Arrow Electronics reported fourth-quarter sales of $9.02 billion, a 7% increase from the previous year. Net income was $371 million, or $5.26 per share, compared to $236 million, or $3.08 per share in Q4 2020. Non-GAAP net income was $379 million, or $5.37 per share.
Fourth-quarter earnings per share of $5.26; Non-GAAP earnings per share of $5.37
Global components fourth-quarter sales increased 13 percent year over year.
Global enterprise computing solutions fourth-quarter sales decreased 8 percent year over year.
Returned approximately $250 million through Arrow’s stock repurchase program during the fourth quarter.
Arrow Electronics
Arrow Electronics
Arrow Electronics Revenue by Geographic Location
Revenue 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 $8.35 billion and $8.95 billion for Q1 2022. They expect net income per share to be $4.32 to $4.48, and non-GAAP net income per share to be $4.44 to $4.60.
Positive Outlook
- Consolidated sales of $8.35 billion to $8.95 billion
- Global components sales of $6.675 billion to $6.975 billion
- Global enterprise computing solutions sales of $1.675 billion to $1.975 billion
- Net income per share on a diluted basis of $4.32 to $4.48
- Non-GAAP net income per share on a diluted basis of $4.44 to $4.60
Challenges Ahead
- Average tax rate of approximately 23.5%
- Average diluted shares outstanding of 69 million
- Interest expense of approximately $35 million
- Changes in foreign currencies to decrease sales by approximately $160 million
- Changes in foreign currencies to decrease earnings per share on a diluted basis by $.10
Revenue & Expenses
Visualization of income flow from segment revenue to net income