Arrow Electronics Reports Strong Q4 Earnings, Exceeding Expectations
CENTENNIAL, Colo., March 9, 2023 - Arrow Electronics Inc. (ARW) announced its fourth-quarter financial results today, posting a net income of $99.2 million, or $1.86 per share.
Adjusted for non-recurring and restructuring costs, earnings stood at $2.97 per share, surpassing analysts' consensus estimate of $2.69.
Revenue for the quarter reached $7.28 billion, exceeding the $7 billion projection from industry analysts.
For the full year, Arrow Electronics reported a profit of $392.1 million, or $7.29 per share, with revenue of $27.92 billion.
Looking ahead to the first quarter of fiscal 2024, the company estimates per-share earnings between $1.30 and $1.50 and revenue between $5.98 billion and $6.58 billion.
Arrow Electronics shares have experienced a modest uptrend over the past year, rising 4.5%.