ARROW ELECTRONICS, INC. (ARW): restructuring charge — Arrow Electronics Q3 sales $6.8B, GAAP EPS $1.88; restructures with $185M plan

ARROW ELECTRONICS, INC.

2024-Q3 EPS reported $5.42 revenue$20,640,447,000

Sales $6.8B, down 15% YoY; GAAP EPS $1.88 vs $3.53; non-GAAP EPS $2.38 vs $4.14.
Global components sales -21% YoY; global ECS sales +7% YoY with strength in hybrid cloud.
Restructuring plan: $185M pre-tax charges ($110M severance, $50M non-cash), targeting $90-100M annual savings by end-2026.
Generated $81M operating cash flow; repurchased $50M shares in Q3.
Company says cyclical correction persists in components but enterprise IT spending gaining momentum.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ARROW ELECTRONICS, INC. announced a restructuring with charges of approximately $185 million affecting the Company (approximately $110 million of employee severance and other personnel cash expenditures).

Type: restructuring
Charge: approximately $185 million
Affected area: the Company
Headcount: approximately $110 million of employee severance and other personnel cash expenditures

Exact text from the filing

non-core businesses that are not aligned with the Company’s strategic objectives. Under the Plan, the Company expects to incur pre-tax restructuring charges of approximately $185 million, consisting of approximately $110 million of employee severance and other personnel cash expenditures; approximately $50 million of non-cash asset impairments, accelerated

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ARROW ELECTRONICS, INC. filing history →

Source: SEC EDGAR

accession 0001894806-24-000004

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