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Arrow Electronics: Q3 Earnings Snapshot

By AP News - Oct 31, 2024, 08:09 AM ET
Last Updated - Dec 16, 2024, 05:47 PM EST
Arrow Electronics: Q3 Earnings Snapshot

CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported third-quarter earnings of $100.6 million.

On a per-share basis, the Centennial, Colorado-based company said it had net income of $1.88. Earnings, adjusted for one-time gains and costs, came to $2.38 per share.

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The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.23 per share.

The electronics maker posted revenue of $6.82 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $6.74 billion.

For the current quarter ending in December, Arrow Electronics expects its per-share earnings to range from $2.48 to $2.68.

The company said it expects revenue in the range of $6.67 billion to $7.27 billion for the fiscal fourth quarter.

Arrow Electronics shares have climbed 11% since the beginning of the year. The stock has climbed 21% 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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