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Arrow Electronics: Q2 Earnings Snapshot
By AP News - Aug 01, 2024, 11:21 AM ET
Last Updated - Aug 01, 2024, 11:21 AM EDT
CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported second-quarter earnings of $108.7 million.
The Centennial, Colorado-based company said it had profit of $2.01 per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to $2.78 per share.
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The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.
The electronics maker posted revenue of $6.89 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $6.51 billion.
For the current quarter ending in September, Arrow Electronics expects its per-share earnings to range from $2.10 to $2.30.
The company said it expects revenue in the range of $6.37 billion to $6.97 billion for the fiscal third quarter.
Arrow Electronics shares have increased 1% since the beginning of the year. The stock has declined 13% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARW at https://www.zacks.com/ap/ARW
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