Arrow Q1 EPS falls 13% YoY to $4.60; revenue down 4% to $8.74B

ARROW ELECTRONICS, INC.

2023-Q1 EPS reported $4.60 revenue$8,736,428,000

Q1 GAAP EPS $4.60 (down 13% YoY); non-GAAP EPS $4.60 (down 15% YoY).
Revenue $8.74B, down 4% YoY; above guidance midpoint of $8.63B.
Global components sales $6.86B (-5% YoY); Asia-Pacific -19%, Europe +17%.
Repurchased $300M in shares; remaining authorization ~$1B.
Q2 guidance: sales $8.42B-$9.02B, non-GAAP EPS $4.25-$4.45 (below Q1).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ARROW ELECTRONICS, INC. reported first quarter 2023 results: revenue $8.74 billion, net income $274 million, EPS $4.60 per diluted share.

Period: first quarter 2023
Revenue: $8.74 billion
Net income: $274 million
EPS: $4.60 per diluted share
Result: reported results

Exact text from the filing

Arrow Electronics, Inc. (NYSE:ARW) today reported first-quarter 2023 sales of $8.74 billion, a decrease of 4 percent year over year, and a decrease of 2 percent year over year on a constant currency basis 1 . First-quarter net income was $274 million, or $4.60 per share on a diluted basis, compared with net income of $365 million, or $5.31 per share on a diluted basis, in the first quarter of 2022.

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Source: SEC EDGAR

accession 0001733391-23-000002

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