logo
Plus   Neg
Share
Email

Arrow Electronics Guides Q3 Adj. EPS, Sales In Line With View - Quick Facts

Arrow Electronics, Inc. (ARW) on Thursday projected adjusted earnings for the third quarter in a range of $2.09 to $2.21 per share on total sales between $7.15 billion and $7.55 billion, with global components sales between $5.25 billion and $5.45 billion, and global enterprise computing solutions sales between $1.9 billion and $2.1 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.11 per share on sales of $7.33 billion for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, net income increased to $170 million or $1.92 per share from $100 million or $1.11 per share in the prior-year quarter. Adjusted earnings were $2.20 per share, compared to last year's $1.77 per share. Sales increased 15 percent to $7.39 billion from last year's $6.42 billion.

Analysts expected quarterly earnings of $2.15 per share on sales of $7.25 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
Follow RTT