Arrow Q1 sales $6.9B (-21% YoY); non-GAAP EPS $2.41 above guidance

ARROW ELECTRONICS, INC.

2024-Q1 EPS reported $1.53 revenue$6,924,260,000

Sales $6.94B, down 21% YoY; GAAP EPS $1.53, non-GAAP EPS $2.41 (above high-end guidance).
Global components sales $5.19B (-24% YoY); Americas -29%, Europe -26%, Asia-Pac -18%.
Global ECS sales $1.73B (-8% YoY); EMEA achieved YoY billings and gross profit growth.
Cash from ops $403M; inventory reduced $390M in Q1, over $1B in past two quarters.
Repurchased ~$100M of shares in the quarter; working capital management remains efficient.

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 of 2024 results: revenue $6,924, net income 84, EPS 1.53.

Period: first quarter of 2024
Revenue: $6,924
Net income: 84
EPS: 1.53
Result: reported results

Exact text from the filing

said Mr. Kerins. Arrow Consolidated Quarter Ended March 30, April 1, (in millions except per share data) 2024 2023 Consolidated sales $ 6,924 $ 8,736 Net income attributable to shareholders 84 274 Net income per diluted share 1.53 4.60 Non-GAAP net income attributable to shareholders (1) 132 274

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ARROW ELECTRONICS, INC. filing history →

Source: SEC EDGAR

accession 0001859644-24-000005

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