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Dec 31, 2022
Arrow Electronics Q4 2022 Earnings Report
Arrow Electronics reported fourth-quarter earnings with sales increase of 3% year over year and EPS of $5.66.
Key Takeaways
Arrow Electronics reported strong fourth-quarter results with sales of $9.32 billion, a 3% increase year over year. Net income was $349 million, or $5.66 per share, while non-GAAP net income was $351 million, or $5.69 per share. The company also announced an additional $1 billion share repurchase authorization.
Fourth-quarter sales increased by 3% year over year to $9.32 billion.
Fourth-quarter earnings per share (EPS) reached $5.66, while non-GAAP EPS was $5.69.
Global components sales increased by 2% year over year.
Global enterprise computing solutions (ECS) sales increased by 7% year over year.
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 $8.33 billion and $8.93 billion for the first quarter of 2023. The company projects net income per share of $4.24 to $4.44, and non-GAAP net income per share of $4.40 to $4.60.
Positive Outlook
- Global components sales of $6.55 billion to $6.85 billion
- Global enterprise computing solutions sales of $1.78 billion to $2.08 billion
- Net income per share on a diluted basis of $4.24 to $4.44
- Non-GAAP net income per share on a diluted basis of $4.40 to $4.60
- Average tax rate of approximately 23.5 percent compared to the long-term range of 23 to 25 percent
Challenges Ahead
- Changes in foreign currencies to decrease sales by approximately $182 million
- Changes in foreign currencies to decrease earnings per share on a diluted basis by $0.13
- On a constant currency basis, first quarter guidance implies a sequential growth rate range of down 6 percent to up 2 percent for global components when compared to the fourth quarter of 2022
- On a constant currency basis, first quarter guidance implies a sequential growth rate range of down 18 percent to 30 percent for global enterprise computing solutions when compared to the fourth quarter of 2022
- Expecting the average USD-to-Euro exchange rate to be $1.07 to €1 compared to $1.12 to €1 in the first quarter of 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income