NYSE$ARW
Arrow Electronics Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Second quarter results reported with revenue in line with guidance and non-GAAP EPS above midpoint of guidance.
Arrow Electronics reported second-quarter 2023 sales of $8.51 billion, a decrease of 10 percent year over year. Second-quarter net income was $237 million, or $4.12 per share on a diluted basis. Non-GAAP net income was $251 million, or $4.37 per share on a diluted basis.
- Second-Quarter Earnings Per Share of $4.12; Non-GAAP Earnings Per Share of $4.37
- Revenue in line with guidance; Non-GAAP EPS above midpoint of guidance
- Global components second-quarter sales of $6.68 billion reflected a decrease of 10 percent year over year.
- Global enterprise computing solutions (ECS) second-quarter sales of $1.83 billion reflected a decrease of 8 percent year over year.
Headline financials
Revenue & EPS history
Arrow Electronics · Revenue · Quarterly
$8.51B
Revenue by segment
Arrow Electronics · $9.27B total across 2 segments · Q3 2022
- Global Components$7.3B—78.8%
- Global ECS$1.97B—21.2%
Forward guidance
Consolidated sales of $7.78 billion to $8.38 billion, with global components sales of $6.00 billion to $6.40 billion, and global enterprise computing solutions sales of $1.78 billion to $1.98 billion. Net income per share on a diluted basis of $3.25 to $3.45, and non-GAAP net income per share on a diluted basis of $3.40 to $3.60.
Tailwinds
- Global components sales of $6.00 billion to $6.40 billion
- Global enterprise computing solutions sales of $1.78 billion to $1.98 billion
- Net income per share on a diluted basis of $3.25 to $3.45
- Non-GAAP net income per share on a diluted basis of $3.40 to $3.60
- Changes in foreign currencies expected to increase year-over-year growth in sales by $212 million
Headwinds
- Consolidated sales of $7.78 billion to $8.38 billion
- Average tax rate in the range of 23 to 25 percent
- Average diluted shares outstanding of ~56 million
- Interest expense in the range of $85 million to $90 million
- On a constant currency basis, our third-quarter sales guidance implies a sequential growth rate range of down 11 percent to down 5 percent for global components
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.7%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+1.2%
Avg return
30 days after
63%
42 / 67 earnings
Positive
+12.4%
Q4 2025
Best reaction
-10.9%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | +4.8% | +14.0% | |
| Q4 2025 | +12.4% | +11.8% | -1.9% | |
| Q3 2025 | -2.4% | -3.9% | -7.0% | |
| Q1 2025 | +1.5% | +3.3% | +6.3% | |
| Q4 2024 | -4.5% | -6.4% | -4.8% | |
| Q3 2024 | -10.9% | -12.5% | -11.5% | |
| Q2 2024 | +1.7% | +0.8% | +9.2% | |
| Q1 2024 | +0.0% | +1.7% | +5.2% | |
| Q4 2023 | +2.1% | +0.8% | +10.1% | |
| Q3 2023 | +6.4% | +4.7% | +5.2% | |
| Q2 2023 | -10.9% | -9.8% | -5.3% | |
| Q1 2023 | +3.2% | +1.6% | +11.1% | |
| Q4 2022 | +10.1% | +9.1% | -0.1% | |
| Q3 2022 | +3.9% | +5.9% | +6.4% | |
| Q2 2022 | -8.8% | -15.1% | -19.1% | |
| Q1 2022 | +0.2% | -0.7% | -2.2% | |
| Q4 2021 | -2.3% | -1.2% | -7.8% | |
| Q3 2021 | +2.8% | +1.0% | +2.8% | |
| Q2 2021 | -0.6% | -1.2% | -1.5% | |
| Q1 2021 | +4.0% | +2.1% | +8.0% | |
| Q4 2020 | +0.5% | +3.8% | +1.4% | |
| Q3 2020 | +1.8% | +6.0% | +21.5% | |
| Q2 2020 | +4.3% | +7.2% | +13.4% | |
| Q1 2020 | +0.6% | -1.0% | +11.4% | |
| Q4 2019 | -1.3% | -0.4% | -13.6% | |
| Q3 2019 | +3.7% | +5.6% | +1.8% | |
| Q2 2019 | -3.0% | -6.6% | -4.7% | |
| Q1 2019 | -8.8% | -12.1% | -25.0% | |
| Q4 2018 | +2.7% | +4.6% | -0.0% | |
| Q3 2018 | +10.7% | +9.9% | +13.7% | |
| Q2 2018 | +1.3% | +1.5% | +2.5% | |
| Q1 2018 | -1.4% | -0.4% | -0.0% | |
| Q4 2017 | +0.6% | -3.9% | -0.1% | |
| Q3 2017 | -4.8% | -4.5% | -3.6% | |
| Q2 2017 | -2.2% | -4.5% | -3.0% | |
| Q1 2017 | +6.2% | +6.2% | +6.1% | |
| Q4 2016 | -3.1% | -3.3% | -2.0% | |
| Q3 2016 | -1.6% | +0.0% | +11.7% | |
| Q2 2016 | -3.5% | -2.2% | -1.5% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | +7.1% | — | — | |
| Q3 2015 | -5.6% | — | — | |
| Q2 2015 | +10.6% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | +2.7% | — | — | |
| Q3 2014 | +2.4% | — | — | |
| Q2 2014 | -3.1% | — | — | |
| Q1 2014 | -2.3% | — | — | |
| Q4 2013 | +0.5% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q2 2013 | +5.7% | — | — | |
| Q1 2013 | -5.4% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2012 | +6.9% | — | — | |
| Q2 2012 | -3.2% | — | — | |
| Q1 2012 | -6.8% | — | — | |
| Q4 2011 | +1.5% | — | — | |
| Q3 2011 | +12.0% | — | — | |
| Q2 2011 | -7.9% | — | — | |
| Q1 2010 | +3.1% | — | — | |
| Q1 2011 | +1.8% | — | — | |
| Q4 2008 | +6.4% | — | — | |
| Q3 2009 | +0.9% | — | — | |
| Q3 2010 | +0.9% | — | — | |
| Q4 2009 | +2.7% | — | — | |
| Q2 2010 | +2.7% | — | — | |
| Q2 2009 | +2.7% | — | — |
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