ARW - Arrow Electronics announces additional $600M stock buyback

Arrow Electronics (ARW +1.1%) receives Board approval to repurchase up to an additional $600M worth of shares. In the last five years to Q3 2021, the company has repurchased about $2B of shares. "Our growth, profitability, and the effective management of our working capital and balance sheet, afford us the ability to return significant cash to shareholders through share repurchases," says CEO Michael J. Long. "We have reduced shares outstanding by approximately 21 percent over the last five years." Earlier, Arrow Electronics EPS beats by $0.47, misses on revenue

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Arrow Electronics announces additional $600M stock buyback