Other Financial Metrics
“In the second quarter, we managed our working capital in line with market conditions, reducing inventory levels by approximately $140 million, or $1.2 billion over the last nine months,” said Raj Agrawal, Arrow’s senior vice president and chief financial officer. “We also generated $320 million in cash flow from operations, providing us capital allocation flexibility, and enabling $50 million in share repurchases during the quarter.”
1 A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in the reconciliation tables included herein.
Third-Quarter 2024 Outlook
- Consolidated sales of $6.37 billion to $6.97 billion, with global components sales of $4.70 billion to $5.10 billion, and global enterprise computing solutions sales of $1.67 billion to $1.87 billion
- Net income per share on a diluted basis of $1.70 to $1.90, and non-GAAP net income per share on a diluted basis of $2.10 to $2.30
- Average tax rate in the range of 23 to 25 percent
- Interest expense of approximately $70 million
- Changes in foreign currencies to increase sales by approximately $7 million, and to have no impact on earnings per share on a diluted basis compared to the third quarter of 2023
- Changes in foreign currencies to increase quarter-over-quarter growth in sales by $30 million and earnings per share on a diluted basis by $0.02 compared to the second quarter of 2024
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Third-Quarter 2024 GAAP to non-GAAP Outlook Reconciliation |
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NON-GAAP SALES RECONCILIATION |
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Quarter Ended |
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Quarter Ended |
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September 28, |
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September 30, |
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September 28, |
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June 29, |
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(in billions) |
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2024 |
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2023 |
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% Change |
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2024 |
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2024 |
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% Change |
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Global components sales, GAAP |
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$ |
4.70 - 5.10 |
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$ |
6.25 |
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(25%) - (18%) |
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$ |
4.70 - 5.10 |
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$ |
5.03 |
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(7%) - 1% |
| Impact of changes in foreign currencies |
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— |
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— |
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— |
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0.02 |
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| Global components sales, constant currency |
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$ |
4.70 - 5.10 |
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$ |
6.25 |
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(25%) - (18%) |
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$ |
4.70 - 5.10 |
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$ |
5.05 |
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(7%) - 1% |
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| Global ECS sales, GAAP |
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$ |
1.67 - 1.87 |
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$ |
1.76 |
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(5%) - 6% |
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$ |
1.67 - 1.87 |
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$ |
1.86 |
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(10%) - 0% |
| Impact of changes in foreign currencies |
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— |
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0.01 |
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— |
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0.01 |
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| Global ECS sales, constant currency |
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$ |
1.67 - 1.87 |
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$ |
1.77 |
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(6%) - 6% |
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$ |
1.67 - 1.87 |
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$ |
1.87 |
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(11%) - 0% |
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| NON-GAAP EARNINGS RECONCILIATION |
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Intangible amortization |
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Restructuring & |
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Reported GAAP measure |
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expense |
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integration charges |
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Non-GAAP measure |
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| Net income per diluted share |
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$1.70 to $1.90 |
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$0.10 |
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$0.30 |
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$2.10 to $2.30 |
