Arrow Electronics falls on downbeat forecast, Q2 sales miss

Arrow Electronics

03/08/2023 18:39

** Shares of electronic components distributor Arrow
Electronics Inc  ARW.N  down 8.5% at $129.28
    ** Co forecasts Q3 adjusted EPS between $3.40 and $3.60,
below Wall Street estimates of $3.66 - Refinitiv 
    ** Expects Q3 sales between $7.78 bln and $8.38 bln, below
Refinitiv estimates of $8.4 bln 
    ** Reports Q2 sales of $8.51 bln, below analysts' avg.
estimate of $8.73 bln 
    ** ARW shares up ~24% YTD

 (Reporting by Tanya Jain)
 ((Tanya.Jain@thomsonreuters.com))