-- Sales of $6.9 billion, exceeding guidance --
-- Second-Quarter Earnings Per Diluted Share of $2.01; Non-GAAP Earnings Per Diluted Share of $2.78 --
CENTENNIAL, Colo. — (BUSINESS WIRE) — August 1, 2024 — Arrow Electronics, Inc. (NYSE: ARW) today announced financial results for its second quarter of 2024.
“We continued to execute well in an evolving market environment, delivering second-quarter sales and non-GAAP earnings per diluted share comfortably ahead of our guided ranges,” said Sean Kerins, Arrow’s president and chief executive officer.
“In addition, our value-added offerings in global components as well as better momentum in enterprise computing solutions contributed to our overall operating margin stability in the quarter,” said Mr. Kerins.
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Arrow Consolidated |
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Quarter Ended |
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Six Months Ended |
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June 29, |
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July 1, |
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June 29, |
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July 1, |
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(in millions except per share data) |
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2024 |
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2023 |
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2024 |
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2023 |
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Consolidated sales |
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$ |
6,893 |
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$ |
8,515 |
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$ |
13,817 |
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$ |
17,251 |
Net income attributable to shareholders |
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109 |
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237 |
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192 |
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510 |
Net income per diluted share |
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2.01 |
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4.12 |
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3.53 |
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8.74 |
Non-GAAP net income attributable to shareholders (1) |
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150 |
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251 |
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282 |
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524 |
| Non-GAAP net income per diluted share |
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2.78 |
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4.37 |
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5.18 |
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8.98 |
