Arrow Electronics Inc reports results for the quarter ended in June - Earnings Summary

Arrow Electronics

01/08/2024 15:10

* Arrow Electronics Inc  ARW.N  reported quarterly adjusted
earnings of $2.49​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $4.37.  The mean expectation of eight analysts for the
quarter was for earnings of $2.16 per share. Wall Street
expected results to range from $2.13  to $2.24 per share.
    * Revenue fell 19% to $6.89 billion from a year ago;
analysts
expected $6.52 billion. 
    * Arrow Electronics Inc's reported EPS for the quarter was
$2.01​.
    * The company reported quarterly net income of $109 million.
    * Arrow Electronics Inc shares had risen by 2.4% this
quarter and
gained 1.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 6
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the
semiconductors peer
group is also "hold"

Wall Street's median 12-month price target for Arrow Electronics
Inc is $128.50 
This summary was machine generated from LSEG data August 1 at
02:09 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.16           2.49           Beat
 Mar. 31 2024      2.37           2.41           Beat
 Dec. 31 2023      3.72           3.98           Beat
 Sep. 30 2023      3.51           4.14           Beat