Arrow Electronics Reports Third-Quarter 2024 Results

-- Sales of $6.8 billion, at high-end of guidance range --

-- Third-Quarter Earnings Per Diluted Share of $1.88; Non-GAAP Earnings Per Diluted Share of $2.38 --

CENTENNIAL, Colo. — (BUSINESS WIRE) — October 31, 2024 — Arrow Electronics, Inc. (NYSE: ARW) today announced financial results for its third quarter of 2024.

“In the third quarter, the company continued to execute well in a challenging environment. While the cyclical correction continues in our global components business, we saw enterprise IT spending gain momentum,” said Sean Kerins, Arrow’s president and chief executive officer. “I am pleased that we delivered revenue above the midpoint of our guidance range and non-GAAP earnings per diluted share ahead of our expectations,” said Mr. Kerins.

 

 

 

 

 

 

 

 

 

 

 

 

 

Arrow Consolidated

 

 

Quarter Ended

 

Nine Months Ended

 

 

 

September 28,

 

 

September 30,

 

 

September 28,

 

 

September 30,

(in millions except per share data)

 

 

2024

 

 

2023

 

 

2024

 

 

2023

Consolidated sales

 

$

6,823

 

$

8,007

 

$

20,640

 

$

25,258

Net income attributable to shareholders

 

 

101

 

 

199

 

 

293

 

 

709

Net income per diluted share

 

 

1.88

 

 

3.53

 

 

5.42

 

 

12.28

Non-GAAP net income attributable to shareholders (1)

 

 

128

 

 

233

 

 

410

 

 

757

Non-GAAP net income per diluted share

 

 

2.38

 

 

4.14

 

 

7.59

 

 

13.12


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