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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.
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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