Arrow Electronics Q3 revenue falls 14% to $8.01B; non-GAAP EPS $4.14 at high end of guidance

ARROW ELECTRONICS, INC.

2023-Q3 EPS reported $12.28 revenue$25,257,963,000

Revenue $8.01B (-14% YoY); net income $199M vs $342M; GAAP EPS $3.53, non-GAAP $4.14.
Global components sales $6.25B (-14% YoY); Americas -24%, Asia-Pacific -18%, Europe +3% (constant currency -4%).
Global ECS sales $1.76B (-10% YoY); Americas -18%, Europe +2% (constant currency -5%).
Includes $0.87 EPS benefit from legal settlement and $0.31 EPS charge for customer AR reserve increase.
Generated $322M operating cash flow; repurchased ~$200M shares in Q3; remaining buyback auth $622M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ARROW ELECTRONICS, INC. reported third quarter 2023 results: revenue $8.01 billion, net income $199 million, EPS $3.53 per share on a diluted basis.

Period: third quarter 2023
Revenue: $8.01 billion
Net income: $199 million
EPS: $3.53 per share on a diluted basis
Result: reported results

Exact text from the filing

Arrow Electronics, Inc. (NYSE:ARW) today reported third-quarter 2023 sales of $8.01 billion, a decrease of 14 percent year over year. Third-quarter net income was $199 million, or $3.53 per share on a diluted basis, compared with net income of $342 million, or $5.27 per share on a diluted basis, in the third quarter of 2022.

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Source: SEC EDGAR

accession 0001859644-23-000014

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