ARW - Arrow Electronics Non-GAAP EPS of $4.37 beats by $0.03 revenue of $8.51B misses by $220M
2023-08-03 08:16:48 ET
- Arrow Electronics press release ( NYSE: ARW ): Q2 Non-GAAP EPS of $4.37 beats by $0.03 .
- Revenue of $8.51B (-10.0% Y/Y) misses by $220M .
- Q3 Outlook: Consolidated sales of $7.78 billion to $8.38 billion, with global components sales of $6.00 billion to $6.40 billion, and global enterprise computing solutions sales of $1.78 billion to $1.98 billion
- Net income per share on a diluted basis of $3.25 to $3.45, and non-GAAP net income per share on a diluted basis of $3.40 to $3.60
- Average tax rate in the range of 23 to 25 percent
- Average diluted shares outstanding of ~56 million
- Interest expense in the range of $85 million to $90 million
- Changes in foreign currencies expected to increase year-over-year growth in sales by $212 million, and earnings per share on a diluted basis by $0.11 compared to the third quarter of 2022
- Changes in foreign currencies expected to increase quarter-over-quarter growth in sales by $42 million and earnings per share on a diluted basis by $0.04 compared to the second quarter of 2023
- On a constant currency basis, our third-quarter sales guidance implies a sequential growth rate range of down 11 percent to down 5 percent for global components and down 4 percent to up 7 percent for global enterprise computing solutions, when compared to the second quarter of 2023.
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Arrow Electronics Non-GAAP EPS of $4.37 beats by $0.03, revenue of $8.51B misses by $220M