Arrow Electronics rises on upbeat Q1 forecast

Arrow Electronics

02/02/2023 15:40

** Shares of Arrow Electronics Inc  ARW.N  up 7.2% at
$128.95
    ** The electronic components distributor sees Q1 2023 adj.
diluted EPS between $4.40 and $4.60, vs est. of $4.14
    ** Company also sees Q1 2023 sales between $8.33 bln and
$8.93 bln, vs est. of $8.25 bln
    ** Arrow reports Q4 adj. profit of $5.69/shr compared with
$5.37/shr a year earlier
    ** Company also announces additional $1 bln share repurchase
authorization
    ** Arrow shares fell 22.12% in 2022
 (Reporting By Akshita Toshniwal)
 ((Akshita.Toshniwal@thomsonreuters.com))