In the second quarter of 2024, global ECS sales increased 2 percent year over year. EMEA ECS second-quarter sales increased 8 percent year over year and increased 9 percent year over year on a constant currency basis. Americas ECS second-quarter sales decreased 4 percent year over year and decreased 3 percent year over year on a constant currency basis.

Other Financial Metrics

“In the second quarter, we managed our working capital in line with market conditions, reducing inventory levels by approximately $140 million, or $1.2 billion over the last nine months,” said Raj Agrawal, Arrow’s senior vice president and chief financial officer. “We also generated $320 million in cash flow from operations, providing us capital allocation flexibility, and enabling $50 million in share repurchases during the quarter.”

¹ A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in the reconciliation tables included herein.

Third-Quarter 2024 Outlook

• Consolidated sales of $6.37 billion to $6.97 billion, with global components sales of $4.70 billion to $5.10 billion, and global enterprise computing solutions sales of $1.67 billion to $1.87 billion
• Net income per share on a diluted basis of $1.70 to $1.90, and non-GAAP net income per share on a diluted basis of $2.10 to $2.30
• Average tax rate in the range of 23 to 25 percent
• Interest expense of approximately $70 million
• Changes in foreign currencies to increase sales by approximately $7 million, and to have no impact on earnings per share on a diluted basis compared to the third quarter of 2023
• Changes in foreign currencies to increase quarter-over-quarter growth in sales by $30 million and earnings per share on a diluted basis by $0.02 compared to the second quarter of 2024

Third-Quarter 2024 GAAP to non-GAAP Outlook Reconciliation
NON-GAAP SALES RECONCILIATION
		Quarter Ended								Quarter Ended
		September 28,			September 30,					September 28,			June 29,
(in billions)		2024			2023			% Change		2024			2024			% Change
Global components sales, GAAP		$	4.70 - 5.10		$	6.25		(25%) - (18%)		$	4.70 - 5.10		$	5.03		(7%) - 1%
Impact of changes in foreign currencies			—			—					—			0.02
Global components sales, constant currency		$	4.70 - 5.10		$	6.25		(25%) - (18%)		$	4.70 - 5.10		$	5.05		(7%) - 1%
Global ECS sales, GAAP		$	1.67 - 1.87		$	1.76		(5%) - 6%		$	1.67 - 1.87		$	1.86		(10%) - 0%
Impact of changes in foreign currencies			—			0.01					—			0.01
Global ECS sales, constant currency		$	1.67 - 1.87		$	1.77		(6%) - 6%		$	1.67 - 1.87		$	1.87		(11%) - 0%

NON-GAAP EARNINGS RECONCILIATION

Intangible amortization

Restructuring &

Reported GAAP measure

expense

integration charges

Non-GAAP measure

Net income per diluted share

$1.70 to $1.90

$0.10

$0.30

$2.10 to $2.30

« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »