Arrow Electronics Reports Second-Quarter 2025 Results
--Consolidated, Global Components, and ECS Segment Sales Above High End of Guidance--
--Second-Quarter Earnings Per Share of
鈥淚 am pleased to report we delivered both consolidated and segment revenues, as well as earnings per share, that exceeded our guidance ranges,鈥� said Sean Kerins, Arrow鈥檚 president and chief executive officer.
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Arrow Consolidated |
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Quarter Ended |
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Six Months Ended |
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June 28, |
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June 29, |
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June 28, |
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June 29, |
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(in millions except per share data) |
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2025 |
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2024 |
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Change |
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2025 |
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2024 |
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Change |
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Consolidated sales |
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$ |
7,580 |
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$ |
6,893 |
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10 |
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% |
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$ |
14,394 |
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$ |
13,817 |
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4 |
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% |
Net income attributable to shareholders |
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188 |
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109 |
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73 |
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% |
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267 |
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192 |
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39 |
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% |
Net income per diluted share |
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3.59 |
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2.01 |
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79 |
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% |
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5.09 |
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3.53 |
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44 |
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% |
Non-GAAP net income attributable to shareholders (1) |
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127 |
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150 |
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(15 |
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% |
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222 |
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282 |
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(21 |
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% |
Non-GAAP net income per diluted share (1) |
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2.43 |
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2.78 |
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(13 |
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% |
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4.23 |
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5.18 |
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(18 |
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% |
In the second quarter of 2025, sales exceeded the high end of guidance range, increased 10 percent year over year, and increased 8 percent year over year on a constant currency basis. Changes in foreign currencies had a positive impact on growth of approximately
Global Components
鈥淚n our global components business, while momentum in
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Global Components |
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Quarter Ended |
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Six Months Ended |
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June 28, |
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June 29, |
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June 28, |
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June 29, |
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(in millions) |
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2025 |
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2024 |
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Change |
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2025 |
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2024 |
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Change |
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Global components sales |
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$ |
5,285 |
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$ |
5,032 |
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5 |
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% |
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$ |
10,063 |
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$ |
10,223 |
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(2 |
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% |
Global components operating income |
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187 |
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210 |
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(11 |
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% |
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358 |
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436 |
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(18 |
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% |
Global components non-GAAP operating income (1) |
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189 |
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218 |
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(13 |
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% |
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362 |
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461 |
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(21 |
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% |
In the second quarter of 2025, global components sales exceeded the high end of guidance range, increased 5 percent year over year, and increased 3 percent year over year on a constant currency basis.
Global Enterprise Computing Solutions
鈥淚n our global ECS business, we delivered year-over-year growth in billings and gross profit. Additionally we saw robust growth in our IT as-a-service backlog, alongside continued adoption of our digital platform, Arrowsphere. Our strategy to concentrate on the higher growth demand trends throughout enterprise IT is gaining momentum,鈥� said Mr. Kerins.
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|
Global Enterprise Computing Solutions (ECS) |
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Quarter Ended |
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Six Months Ended |
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June 28, |
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June 29, |
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June 28, |
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June 29, |
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(in millions) |
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2025 |
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2024 |
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Change |
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2025 |
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2024 |
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Change |
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Global ECS sales |
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$ |
2,295 |
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$ |
1,861 |
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23 |
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% |
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$ |
4,331 |
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$ |
3,594 |
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21 |
% |
Global ECS operating income |
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97 |
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103 |
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(5 |
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% |
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174 |
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174 |
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flat |
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Global ECS non-GAAP operating income (1) |
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98 |
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104 |
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(6 |
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% |
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176 |
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176 |
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flat |
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In the second quarter of 2025, global ECS sales exceeded the high end of guidance range and increased 23 percent year over year, and increased 20 percent year over year on a constant currency basis. Global ECS billings increased 15 percent year over year. EMEA ECS second-quarter sales increased 39 percent year over year and increased 31 percent year over year on a constant currency basis. Americas ECS second-quarter sales increased 9 percent year over year.
Other Financial Information
鈥淚n the second quarter, we increased our inventory turns, reduced our cash conversion cycle and improved our returns on capital,鈥� said Raj Agrawal, Arrow鈥檚 senior vice president and chief financial officer. 鈥淲e were also able to repurchase another
1 A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in the reconciliation tables included herein.
Third-Quarter 2025 Outlook
-
Consolidated sales of
$7.30 billion $7.90 billion $5.30 billion $5.70 billion $2.00 billion $2.20 billion -
Net income per share on a diluted basis of
$1.49 $1.69 $2.16 $2.36 - Average tax rate in the range of 23 percent to 25 percent
-
Interest expense of approximately
$65 million -
Changes in foreign currencies to increase sales by approximately
$135 million $0.11 -
Changes in foreign currencies to increase quarter-over-quarter growth in sales by
$89 million $0.05 -
Global components second-quarter sales included a
1% incremental billing impact from tariffs.听The company has assumed a similar amount in its third-quarter outlook.
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Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation |
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NON-GAAP SALES RECONCILIATION |
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Quarter Ended |
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Quarter Ended |
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September 27, |
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September 28, |
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September 27, |
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June 28, |
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(in billions) |
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2025 |
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2024 |
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% Change |
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2025 |
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2025 |
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% Change |
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Global components sales, GAAP |
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$ |
5.30 - 5.70 |
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$ |
4.95 |
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|
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$ |
5.30 - 5.70 |
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$ |
5.28 |
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|
Impact of changes in foreign currencies |
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鈥� |
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0.08 |
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鈥� |
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0.05 |
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Global components sales, constant currency |
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$ |
5.30 - 5.70 |
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$ |
5.03 |
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|
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$ |
5.30 - 5.70 |
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$ |
5.33 |
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( |
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Global ECS sales, GAAP |
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$ |
2.00 - 2.20 |
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$ |
1.88 |
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|
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$ |
2.00 - 2.20 |
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$ |
2.30 |
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( |
Impact of changes in foreign currencies |
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鈥� |
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0.05 |
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鈥� |
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0.04 |
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Global ECS sales, constant currency |
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$ |
2.00 - 2.20 |
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$ |
1.93 |
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|
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$ |
2.00 - 2.20 |
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$ |
2.34 |
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( |
NON-GAAP EARNINGS RECONCILIATION |
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Reported |
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Intangible amortization |
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Restructuring & |
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||
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GAAP measure |
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expense |
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integration charges |
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Non-GAAP measure |
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Net income per diluted share |
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|
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|
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Earnings Presentation
Please refer to the earnings presentation, which can be found at , as a supplement to the company鈥檚 earnings release. The company may use this website as a means of disclosing material, non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the website noted above, in addition to following the company鈥檚 press releases, SEC filings, and public conference calls and webcasts.
Webcast and Conference Call Information
Arrow Electronics will host a conference call to discuss second-quarter 2025 financial results on July 31, 2025, at 1:00 p.m. ET. A live webcast of the conference call will be available via the events section of investor.arrow.com or by accessing the webcast link directly at . Shortly after the conclusion of the conference call, a webcast replay will be available on the Arrow website for one year.
About Arrow Electronics
Arrow Electronics (NYSE:ARW) sources and engineers technology solutions for thousands of leading manufacturers and service providers. With global 2024 sales of
Key Business Metrics
Management uses gross billings as an operational metric to monitor operating performance of its global ECS reportable segment, including sales performance by geographic region, as it provides meaningful supplemental information to the reader in evaluating the overall performance of the global ECS business. The company uses this key metric to develop financial forecasts, make strategic decisions, and prepare and approve annual budgets. Gross billings represent amounts invoiced to customers for goods and services during a specified period and do not include the impact of recording sales on a net basis or sales adjustments, such as trade discounts and other allowances. The use of gross billings has certain limitations as an analytical tool and should not be considered in isolation or as a substitute for revenue.
Information Relating to Forward-Looking Statements
This press release includes 鈥渇orward-looking鈥� statements, as the term is defined under the federal securities laws. Forward-looking statements are those statements which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as 鈥渆xpects,鈥� 鈥渁nticipates,鈥� 鈥渋ntends,鈥� 鈥減lans,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渨ould,鈥� 鈥渃ould,鈥� 鈥渂elieves,鈥� 鈥渟eeks,鈥� 鈥減rojected,鈥� 鈥減otential,鈥� 鈥渆stimates,鈥� and similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements regarding: Arrow鈥檚 future financial performance, including its outlook on financial results for the second quarter of fiscal 2025 such as sales, net income per diluted share, non-GAAP net income per diluted share, average tax rate, interest and other expense, impact to sales due to changes in foreign currencies, the timing of the completion of the company鈥檚 restructuring initiatives (the 鈥淥perating Expense Efficiency Plan鈥�) and Arrow鈥檚 estimated costs and expected operating expense reductions associated therewith, industry trends and expectations regarding market demand and conditions, and shareholder returns. These and other forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which could cause actual results or facts to differ materially from such statements for a variety of reasons, including, but not limited to: unfavorable economic conditions; disruptions, shortages, or inefficiencies in the supply chain; trade protection measures, tariffs, increased trade tensions, trade agreements and policies, and other restrictions, duties, and value-added taxes, and the associated macroeconomic impacts; the incurrence of additional charges not currently contemplated and failure to realize contemplated cost savings due to unanticipated events that may occur in connection with the implementation of the Operating Expense Efficiency Plan; political instability and changes; impacts of military conflict and sanctions; industry conditions; changes in product supply, pricing and customer demand; competition; other vagaries in the global components and the global ECS markets; deteriorating economic conditions, including economic recession, inflation, tax rates, foreign currency exchange rates, or the availability of capital; the effects of natural or man-made catastrophic events; changes in relationships with key suppliers; increased profit margin pressure; changes in legal and regulatory matters; non-compliance with certain regulations, such as trade, export, antitrust, and anti-corruption laws; foreign tax and other loss contingencies; breaches of security or privacy of business information and information system failures, including related to current or future implementations, integrations and upgrades; outbreaks, epidemics, pandemics, or public health crises; executive orders and regulatory trends and the resulting legal and reputational exposure, including but not limited to those relating to environmental, social, governance, cybersecurity, data privacy, and artificial intelligence issues; and the company's ability to generate positive cash flow. For a further discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled 鈥淩isk Factors鈥� in the company's most recent Quarterly Report on Form 10-Q and the company's most recent Annual Report on Form 10-K, as well as in other filings the company makes with the Securities and Exchange Commission. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.
Certain Non-GAAP Financial Information
In addition to disclosing financial results that are determined in accordance with accounting principles generally accepted in
ARROW ELECTRONICS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except per share data) (Unaudited) |
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Quarter Ended |
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Six Months Ended |
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June 28, 2025 |
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June 29, 2024 |
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June 28, 2025 |
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June 29, 2024 |
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Sales |
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$ |
7,579,947 |
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$ |
6,892,868 |
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$ |
14,393,964 |
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$ |
13,817,128 |
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Cost of sales |
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6,731,290 |
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6,046,424 |
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12,771,315 |
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12,112,858 |
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Gross profit |
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848,657 |
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846,444 |
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1,622,649 |
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1,704,270 |
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Operating expenses: |
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Selling, general, and administrative |
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600,990 |
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552,595 |
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1,163,306 |
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1,135,921 |
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Depreciation and amortization |
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35,162 |
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41,037 |
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70,972 |
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82,764 |
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Restructuring, integration, and other |
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21,919 |
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40,537 |
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39,232 |
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87,393 |
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658,071 |
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634,169 |
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1,273,510 |
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1,306,078 |
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Operating income |
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190,586 |
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212,275 |
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349,139 |
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398,192 |
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Equity in (losses) earnings of affiliated companies |
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(659 |
) |
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1,254 |
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661 |
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910 |
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Gain (loss) on investments, net |
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103,976 |
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(4,615 |
) |
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104,116 |
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(4,517 |
) |
Loss on extinguishment of debt |
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鈥� |
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(1,657 |
) |
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鈥� |
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(1,657 |
) |
Post-retirement expense |
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(664 |
) |
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(980 |
) |
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(1,286 |
) |
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(1,913 |
) |
Interest and other financing expense, net |
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(60,283 |
) |
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(66,891 |
) |
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(116,465 |
) |
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(146,495 |
) |
Income before income taxes |
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232,956 |
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139,386 |
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336,165 |
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244,520 |
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Provision for income taxes |
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45,934 |
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29,762 |
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69,279 |
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51,798 |
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Consolidated net income |
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187,022 |
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109,624 |
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266,886 |
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192,722 |
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Noncontrolling interests |
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(727 |
) |
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926 |
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(583 |
) |
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423 |
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Net income attributable to shareholders |
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$ |
187,749 |
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$ |
108,698 |
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$ |
267,469 |
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$ |
192,299 |
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Net income per share: |
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Basic |
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$ |
3.62 |
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$ |
2.03 |
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$ |
5.14 |
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$ |
3.56 |
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Diluted |
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$ |
3.59 |
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$ |
2.01 |
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$ |
5.09 |
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$ |
3.53 |
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Weighted-average shares outstanding: |
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Basic |
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51,856 |
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53,640 |
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52,057 |
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53,944 |
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Diluted |
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52,342 |
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54,181 |
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52,504 |
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54,496 |
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ARROW ELECTRONICS, INC. CONSOLIDATED BALANCE SHEETS (In thousands except par value) (Unaudited) |
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||
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June 28, 2025 |
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December 31, 2024 |
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ASSETS |
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Current assets: |
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||
Cash and cash equivalents |
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$ |
221,970 |
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$ |
188,807 |
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Accounts receivable, net |
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15,271,349 |
听 |
听 |
听 |
13,030,991 |
听 |
Inventories |
听 |
听 |
4,749,431 |
听 |
听 |
听 |
4,709,706 |
听 |
Other current assets |
听 |
听 |
603,670 |
听 |
听 |
听 |
471,909 |
听 |
Total current assets |
听 |
听 |
20,846,420 |
听 |
听 |
听 |
18,401,413 |
听 |
Property, plant, and equipment, at cost: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Land |
听 |
听 |
5,691 |
听 |
听 |
听 |
5,691 |
听 |
Buildings and improvements |
听 |
听 |
196,556 |
听 |
听 |
听 |
194,061 |
听 |
Machinery and equipment |
听 |
听 |
1,691,823 |
听 |
听 |
听 |
1,623,228 |
听 |
听 |
听 |
听 |
1,894,070 |
听 |
听 |
听 |
1,822,980 |
听 |
Less: Accumulated depreciation and amortization |
听 |
听 |
(1,419,472 |
) |
听 |
听 |
(1,353,720 |
) |
Property, plant, and equipment, net |
听 |
听 |
474,598 |
听 |
听 |
听 |
469,260 |
听 |
Investments in affiliated companies |
听 |
听 |
57,766 |
听 |
听 |
听 |
57,299 |
听 |
Intangible assets, net |
听 |
听 |
86,552 |
听 |
听 |
听 |
96,706 |
听 |
Goodwill |
听 |
听 |
2,123,994 |
听 |
听 |
听 |
2,055,295 |
听 |
Other assets |
听 |
听 |
663,248 |
听 |
听 |
听 |
677,734 |
听 |
Total assets |
听 |
$ |
24,252,578 |
听 |
听 |
$ |
21,757,707 |
听 |
LIABILITIES AND EQUITY |
听 |
听 |
听 |
听 |
听 |
听 |
||
Current liabilities: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Accounts payable |
听 |
$ |
13,213,323 |
听 |
听 |
$ |
11,047,470 |
听 |
Accrued expenses |
听 |
听 |
1,309,323 |
听 |
听 |
听 |
1,238,714 |
听 |
Short-term borrowings, including current portion of long-term debt |
听 |
听 |
455,612 |
听 |
听 |
听 |
349,978 |
听 |
Total current liabilities |
听 |
听 |
14,978,258 |
听 |
听 |
听 |
12,636,162 |
听 |
Long-term debt |
听 |
听 |
2,365,812 |
听 |
听 |
听 |
2,773,783 |
听 |
Other liabilities |
听 |
听 |
499,434 |
听 |
听 |
听 |
516,234 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Equity: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Shareholders鈥� equity: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Common stock, par value |
听 |
听 |
听 |
听 |
听 |
听 |
||
Authorized - 160,000 shares in both 2025 and 2024 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Issued - 55,815 and 55,592 shares in 2025 and 2024, respectively |
听 |
听 |
55,815 |
听 |
听 |
听 |
55,592 |
听 |
Capital in excess of par value |
听 |
听 |
589,480 |
听 |
听 |
听 |
562,080 |
听 |
Treasury stock (4,314 and 3,420 shares in 2025 and 2024, respectively), at cost |
听 |
听 |
(432,447 |
) |
听 |
听 |
(328,078 |
) |
Retained earnings |
听 |
听 |
6,248,295 |
听 |
听 |
听 |
5,980,826 |
听 |
Accumulated other comprehensive loss |
听 |
听 |
(127,253 |
) |
听 |
听 |
(509,269 |
) |
Total shareholders鈥� equity |
听 |
听 |
6,333,890 |
听 |
听 |
听 |
5,761,151 |
听 |
Noncontrolling interests |
听 |
听 |
75,184 |
听 |
听 |
听 |
70,377 |
听 |
Total equity |
听 |
听 |
6,409,074 |
听 |
听 |
听 |
5,831,528 |
听 |
Total liabilities and equity |
听 |
$ |
24,252,578 |
听 |
听 |
$ |
21,757,707 |
听 |
ARROW ELECTRONICS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) |
||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
听 |
听 |
Quarter Ended |
||||||
听 |
听 |
June 28, 2025 |
听 |
June 29, 2024 |
||||
Cash flows from operating activities: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Consolidated net income |
听 |
$ |
187,022 |
听 |
听 |
$ |
109,624 |
听 |
Adjustments to reconcile consolidated net income to net cash provided by operations: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Depreciation and amortization |
听 |
听 |
35,162 |
听 |
听 |
听 |
41,037 |
听 |
Amortization of stock-based compensation |
听 |
听 |
11,641 |
听 |
听 |
听 |
8,253 |
听 |
Equity in losses (earnings) of affiliated companies |
听 |
听 |
659 |
听 |
听 |
听 |
(1,254 |
) |
Deferred income taxes |
听 |
听 |
11,092 |
听 |
听 |
听 |
(4,597 |
) |
Loss on extinguishment of debt |
听 |
听 |
鈥� |
听 |
听 |
听 |
1,657 |
听 |
(Gain) loss on investments, net |
听 |
听 |
(103,863 |
) |
听 |
听 |
4,639 |
听 |
Other |
听 |
听 |
376 |
听 |
听 |
听 |
3,786 |
听 |
Change in assets and liabilities, net of effects of acquired businesses: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Accounts receivable, net |
听 |
听 |
(2,627,707 |
) |
听 |
听 |
155,886 |
听 |
Inventories |
听 |
听 |
108,833 |
听 |
听 |
听 |
130,661 |
听 |
Accounts payable |
听 |
听 |
2,200,976 |
听 |
听 |
听 |
(160,026 |
) |
Accrued expenses |
听 |
听 |
(2,027 |
) |
听 |
听 |
251,990 |
听 |
Other assets and liabilities |
听 |
听 |
(28,060 |
) |
听 |
听 |
(221,475 |
) |
Net cash (used for) provided by operating activities |
听 |
听 |
(205,896 |
) |
听 |
听 |
320,181 |
听 |
Cash flows from investing activities: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Acquisition of property, plant, and equipment |
听 |
听 |
(18,618 |
) |
听 |
听 |
(22,101 |
) |
Proceeds from settlement of net investment hedges |
听 |
听 |
24,858 |
听 |
听 |
听 |
鈥� |
听 |
Proceeds from sale of investments in equity securities |
听 |
听 |
100,000 |
听 |
听 |
听 |
鈥� |
听 |
Other |
听 |
听 |
鈥� |
听 |
听 |
听 |
1,313 |
听 |
Net cash provided by (used for) investing activities |
听 |
听 |
106,240 |
听 |
听 |
听 |
(20,788 |
) |
Cash flows from financing activities: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Change in short-term and other borrowings |
听 |
听 |
274,187 |
听 |
听 |
听 |
(434,845 |
) |
(Repayments of) proceeds from long-term bank borrowings, net |
听 |
听 |
50,566 |
听 |
听 |
听 |
196,575 |
听 |
Redemption of notes |
听 |
听 |
(350,000 |
) |
听 |
听 |
(500,000 |
) |
Net proceeds from note offering |
听 |
听 |
鈥� |
听 |
听 |
听 |
494,678 |
听 |
Proceeds from exercise of stock options |
听 |
听 |
2,299 |
听 |
听 |
听 |
1,839 |
听 |
Repurchases of common stock |
听 |
听 |
(50,736 |
) |
听 |
听 |
(75,353 |
) |
Settlement of forward-starting interest rate swap |
听 |
听 |
鈥� |
听 |
听 |
听 |
鈥� |
听 |
Other |
听 |
听 |
(148 |
) |
听 |
听 |
(141 |
) |
Net cash used for financing activities |
听 |
听 |
(73,832 |
) |
听 |
听 |
(317,247 |
) |
Effect of exchange rate changes on cash |
听 |
听 |
163,576 |
听 |
听 |
听 |
(11,947 |
) |
Net decrease in cash and cash equivalents |
听 |
听 |
(9,912 |
) |
听 |
听 |
(29,801 |
) |
Cash and cash equivalents at beginning of period |
听 |
听 |
231,882 |
听 |
听 |
听 |
242,810 |
听 |
Cash and cash equivalents at end of period |
听 |
$ |
221,970 |
听 |
听 |
$ |
213,009 |
听 |
ARROW ELECTRONICS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) |
||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
听 |
听 |
Six Months Ended |
||||||
听 |
听 |
June 28, 2025 |
听 |
June 29, 2024 |
||||
Cash flows from operating activities: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Consolidated net income |
听 |
$ |
266,886 |
听 |
听 |
$ |
192,722 |
听 |
Adjustments to reconcile consolidated net income to net cash provided by operations: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Depreciation and amortization |
听 |
听 |
70,972 |
听 |
听 |
听 |
82,764 |
听 |
Amortization of stock-based compensation |
听 |
听 |
30,200 |
听 |
听 |
听 |
21,700 |
听 |
Equity in losses (earnings) of affiliated companies |
听 |
听 |
(661 |
) |
听 |
听 |
(910 |
) |
Deferred income taxes |
听 |
听 |
5,251 |
听 |
听 |
听 |
(7,398 |
) |
Loss on extinguishment of debt |
听 |
听 |
鈥� |
听 |
听 |
听 |
1,657 |
听 |
(Gain) loss on investments, net |
听 |
听 |
(103,895 |
) |
听 |
听 |
4,652 |
听 |
Other |
听 |
听 |
(302 |
) |
听 |
听 |
4,975 |
听 |
Change in assets and liabilities, net of effects of acquired businesses: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Accounts receivable, net |
听 |
听 |
(1,896,481 |
) |
听 |
听 |
1,213,562 |
听 |
Inventories |
听 |
听 |
46,449 |
听 |
听 |
听 |
493,474 |
听 |
Accounts payable |
听 |
听 |
1,949,919 |
听 |
听 |
听 |
(1,237,812 |
) |
Accrued expenses |
听 |
听 |
(81,710 |
) |
听 |
听 |
273,043 |
听 |
Other assets and liabilities |
听 |
听 |
(140,845 |
) |
听 |
听 |
(319,038 |
) |
Net cash provided by operating activities |
听 |
听 |
145,783 |
听 |
听 |
听 |
723,391 |
听 |
Cash flows from investing activities: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Acquisition of property, plant, and equipment |
听 |
听 |
(43,597 |
) |
听 |
听 |
(51,636 |
) |
Proceeds from settlement of net investment hedges |
听 |
听 |
24,858 |
听 |
听 |
听 |
鈥� |
听 |
Proceeds from sale of investments in equity securities |
听 |
听 |
100,000 |
听 |
听 |
听 |
鈥� |
听 |
Other |
听 |
听 |
鈥� |
听 |
听 |
听 |
6,452 |
听 |
Net cash provided by (used for) investing activities |
听 |
听 |
81,261 |
听 |
听 |
听 |
(45,184 |
) |
Cash flows from financing activities: |
听 |
听 |
听 |
听 |
听 |
听 |
||
Change in short-term and other borrowings |
听 |
听 |
454,803 |
听 |
听 |
听 |
(1,144,520 |
) |
(Repayments of) proceeds from long-term bank borrowings, net |
听 |
听 |
(413,657 |
) |
听 |
听 |
673,607 |
听 |
Redemption of notes |
听 |
听 |
(350,000 |
) |
听 |
听 |
(500,000 |
) |
Net proceeds from note offering |
听 |
听 |
鈥� |
听 |
听 |
听 |
494,678 |
听 |
Proceeds from exercise of stock options |
听 |
听 |
3,203 |
听 |
听 |
听 |
4,768 |
听 |
Repurchases of common stock |
听 |
听 |
(110,149 |
) |
听 |
听 |
(163,301 |
) |
Other |
听 |
听 |
(148 |
) |
听 |
听 |
(141 |
) |
Net cash used for financing activities |
听 |
听 |
(415,948 |
) |
听 |
听 |
(634,909 |
) |
Effect of exchange rate changes on cash |
听 |
听 |
222,067 |
听 |
听 |
听 |
(48,342 |
) |
Net increase (decrease) in cash and cash equivalents |
听 |
听 |
33,163 |
听 |
听 |
听 |
(5,044 |
) |
Cash and cash equivalents at beginning of period |
听 |
听 |
188,807 |
听 |
听 |
听 |
218,053 |
听 |
Cash and cash equivalents at end of period |
听 |
$ |
221,970 |
听 |
听 |
$ |
213,009 |
听 |
ARROW ELECTRONICS, INC. ECS Gross Billings (In thousands) (Unaudited) |
||||||||||||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
Global Enterprise Computing Solutions - Gross Billings(1) |
||||||||||||||||||
听 |
听 |
Quarter Ended |
听 |
Six Months Ended |
||||||||||||||
听 |
听 |
June 28, |
听 |
June 29, |
听 |
听 |
听 |
听 |
June 28, |
听 |
June 29, |
听 |
听 |
听 |
||||
听 |
听 |
2025 |
听 |
2024 |
听 |
Change |
听 |
2025 |
听 |
2024 |
听 |
Change |
||||||
Gross billings: |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
Americas ECS |
听 |
$ |
2,543,759 |
听 |
$ |
2,441,126 |
听 |
4 |
% |
听 |
$ |
4,851,496 |
听 |
$ |
4,804,955 |
听 |
1 |
% |
EMEA ECS |
听 |
听 |
2,596,209 |
听 |
听 |
2,031,939 |
听 |
28 |
% |
听 |
听 |
4,927,426 |
听 |
听 |
4,076,528 |
听 |
21 |
% |
Global ECS |
听 |
$ |
5,139,968 |
听 |
$ |
4,473,065 |
听 |
15 |
% |
听 |
$ |
9,778,922 |
听 |
$ |
8,881,483 |
听 |
10 |
% |
| _______________ | ||
| 1 | Refer to page 4 for discussion about key business metrics. Gross billings are not a substitute for revenue. |
|
ARROW ELECTRONICS, INC. NON-GAAP SALES RECONCILIATION (In thousands) (Unaudited) |
|||||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
听 |
听 |
Quarter Ended |
听 |
听 |
听 |
||||||
听 |
听 |
June 28, 2025 |
听 |
June 29, 2024 |
听 |
% Change |
听 |
||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Consolidated sales, as reported |
听 |
$ |
7,579,947 |
听 |
$ |
6,892,868 |
听 |
听 |
10.0 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
123,311 |
听 |
听 |
听 |
听 |
|
Consolidated sales, constant currency |
听 |
$ |
7,579,947 |
听 |
$ |
7,016,179 |
听 |
听 |
8.0 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Global components sales, as reported |
听 |
$ |
5,284,898 |
听 |
$ |
5,032,031 |
听 |
听 |
5.0 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
75,437 |
听 |
听 |
听 |
听 |
|
Global components sales, constant currency |
听 |
$ |
5,284,898 |
听 |
$ |
5,107,468 |
听 |
听 |
3.5 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
|
听 |
$ |
1,707,522 |
听 |
$ |
1,572,840 |
听 |
听 |
8.6 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
544 |
听 |
听 |
听 |
听 |
|
|
听 |
$ |
1,707,522 |
听 |
$ |
1,573,384 |
听 |
听 |
8.5 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
|
听 |
$ |
2,150,432 |
听 |
$ |
2,019,697 |
听 |
听 |
6.5 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
1,228 |
听 |
听 |
听 |
听 |
|
|
听 |
$ |
2,150,432 |
听 |
$ |
2,020,925 |
听 |
听 |
6.4 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
EMEA components sales, as reported |
听 |
$ |
1,426,944 |
听 |
$ |
1,439,494 |
听 |
听 |
(0.9 |
) |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
73,665 |
听 |
听 |
听 |
听 |
|
EMEA components sales, constant currency |
听 |
$ |
1,426,944 |
听 |
$ |
1,513,159 |
听 |
听 |
(5.7 |
) |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Global ECS sales, as reported |
听 |
$ |
2,295,049 |
听 |
$ |
1,860,837 |
听 |
听 |
23.3 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
47,874 |
听 |
听 |
听 |
听 |
|
Global ECS sales, constant currency |
听 |
$ |
2,295,049 |
听 |
$ |
1,908,711 |
听 |
听 |
20.2 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Americas ECS sales, as reported |
听 |
$ |
1,052,785 |
听 |
$ |
964,070 |
听 |
听 |
9.2 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
(1,263 |
) |
听 |
听 |
听 |
|
Americas ECS sales, constant currency |
听 |
$ |
1,052,785 |
听 |
$ |
962,807 |
听 |
听 |
9.3 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
EMEA ECS sales, as reported |
听 |
$ |
1,242,264 |
听 |
$ |
896,767 |
听 |
听 |
38.5 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
49,137 |
听 |
听 |
听 |
听 |
|
EMEA ECS sales, constant currency |
听 |
$ |
1,242,264 |
听 |
$ |
945,904 |
听 |
听 |
31.3 |
听 |
% |
ARROW ELECTRONICS, INC. NON-GAAP SALES RECONCILIATION (In thousands) (Unaudited) |
|||||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
听 |
听 |
Six Months Ended |
听 |
听 |
听 |
||||||
听 |
听 |
June 28, 2025 |
听 |
June 29, 2024 |
听 |
% Change |
听 |
||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Consolidated sales, as reported |
听 |
$ |
14,393,964 |
听 |
$ |
13,817,128 |
听 |
听 |
4.2 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
38,958 |
听 |
听 |
听 |
听 |
|
Consolidated sales, constant currency |
听 |
$ |
14,393,964 |
听 |
$ |
13,856,086 |
听 |
听 |
3.9 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Global components sales, as reported |
听 |
$ |
10,062,620 |
听 |
$ |
10,223,448 |
听 |
听 |
(1.6 |
) |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
18,997 |
听 |
听 |
听 |
听 |
|
Global components sales, constant currency |
听 |
$ |
10,062,620 |
听 |
$ |
10,242,445 |
听 |
听 |
(1.8 |
) |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
|
听 |
$ |
3,276,092 |
听 |
$ |
3,169,532 |
听 |
听 |
3.4 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
(497 |
) |
听 |
听 |
听 |
|
|
听 |
$ |
3,276,092 |
听 |
$ |
3,169,035 |
听 |
听 |
3.4 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
|
听 |
$ |
4,019,583 |
听 |
$ |
3,957,915 |
听 |
听 |
1.6 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
(7,426 |
) |
听 |
听 |
听 |
|
|
听 |
$ |
4,019,583 |
听 |
$ |
3,950,489 |
听 |
听 |
1.7 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
EMEA components sales, as reported |
听 |
$ |
2,766,945 |
听 |
$ |
3,096,001 |
听 |
听 |
(10.6 |
) |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
26,920 |
听 |
听 |
听 |
听 |
|
EMEA components sales, constant currency |
听 |
$ |
2,766,945 |
听 |
$ |
3,122,921 |
听 |
听 |
(11.4 |
) |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Global ECS sales, as reported |
听 |
$ |
4,331,344 |
听 |
$ |
3,593,680 |
听 |
听 |
20.5 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
19,961 |
听 |
听 |
听 |
听 |
|
Global ECS sales, constant currency |
听 |
$ |
4,331,344 |
听 |
$ |
3,613,641 |
听 |
听 |
19.9 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Americas ECS sales, as reported |
听 |
$ |
1,962,688 |
听 |
$ |
1,871,818 |
听 |
听 |
4.9 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
(8,059 |
) |
听 |
听 |
听 |
|
Americas ECS sales, constant currency |
听 |
$ |
1,962,688 |
听 |
$ |
1,863,759 |
听 |
听 |
5.3 |
听 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
EMEA ECS sales, as reported |
听 |
$ |
2,368,656 |
听 |
$ |
1,721,862 |
听 |
听 |
37.6 |
听 |
% |
Impact of changes in foreign currencies |
听 |
听 |
鈥� |
听 |
听 |
28,020 |
听 |
听 |
听 |
听 |
|
EMEA ECS sales, constant currency |
听 |
$ |
2,368,656 |
听 |
$ |
1,749,882 |
听 |
听 |
35.4 |
听 |
% |
ARROW ELECTRONICS, INC. NON-GAAP EARNINGS RECONCILIATION (In thousands except per share data) (Unaudited) |
|||||||||||||||||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
Three months ended June 28, 2025 |
听 |
||||||||||||||||||||||
听 |
听 |
Reported |
听 |
Intangible |
听 |
Restructuring, |
听 |
Impact of |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||||||
听 |
听 |
GAAP |
听 |
amortization |
听 |
Integration |
听 |
Wind |
听 |
听 |
听 |
听 |
Non-GAAP |
听 |
|||||||||
听 |
听 |
measure |
听 |
expense |
听 |
and other |
听 |
Down(1) |
听 |
听 |
Other(2) |
听 |
measure |
听 |
|||||||||
Operating income |
听 |
$ |
190,586 |
听 |
听 |
$ |
4,870 |
听 |
$ |
21,919 |
听 |
$ |
(2,172 |
) |
听 |
$ |
172 |
听 |
听 |
$ |
215,375 |
听 |
听 |
Income before income taxes |
听 |
听 |
232,956 |
听 |
听 |
听 |
4,870 |
听 |
听 |
21,919 |
听 |
听 |
(2,172 |
) |
听 |
听 |
(103,804 |
) |
听 |
听 |
153,769 |
听 |
听 |
Provision for income taxes |
听 |
听 |
45,934 |
听 |
听 |
听 |
1,208 |
听 |
听 |
5,747 |
听 |
听 |
(689 |
) |
听 |
听 |
(25,119 |
) |
听 |
听 |
27,081 |
听 |
听 |
Consolidated net income |
听 |
听 |
187,022 |
听 |
听 |
听 |
3,662 |
听 |
听 |
16,172 |
听 |
听 |
(1,483 |
) |
听 |
听 |
(78,685 |
) |
听 |
听 |
126,688 |
听 |
听 |
Noncontrolling interests |
听 |
听 |
(727 |
) |
听 |
听 |
24 |
听 |
听 |
鈥� |
听 |
听 |
鈥� |
听 |
听 |
听 |
鈥� |
听 |
听 |
听 |
(703 |
) |
听 |
Net income attributable to shareholders |
听 |
$ |
187,749 |
听 |
听 |
$ |
3,638 |
听 |
$ |
16,172 |
听 |
$ |
(1,483 |
) |
听 |
$ |
(78,685 |
) |
听 |
$ |
127,391 |
听 |
听 |
Net income per diluted share (4) |
听 |
$ |
3.59 |
听 |
听 |
$ |
0.07 |
听 |
$ |
0.31 |
听 |
$ |
(0.03 |
) |
听 |
$ |
(1.50 |
) |
听 |
$ |
2.43 |
听 |
听 |
Effective tax rate (5) |
听 |
听 |
19.7 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
17.6 |
% |
||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
|||||
Three months ended June 29, 2024 |
|||||||||||||||||||||||
听 |
听 |
Reported |
Intangible |
听 |
Restructuring, |
听 |
Impact of |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
|||||||||
听 |
听 |
GAAP |
amortization |
听 |
Integration |
听 |
Wind |
听 |
听 |
听 |
听 |
Non-GAAP |
|||||||||||
听 |
听 |
measure |
expense |
听 |
and other |
听 |
Down(1) |
听 |
听 |
Other(3) |
听 |
measure |
|||||||||||
Operating income |
听 |
$ |
212,275 |
听 |
$ |
7,456 |
听 |
$ |
40,537 |
听 |
$ |
1,627 |
听 |
$ |
鈥� |
听 |
$ |
261,895 |
听 |
||||
Income before income taxes |
听 |
听 |
139,386 |
听 |
听 |
7,456 |
听 |
听 |
40,537 |
听 |
听 |
1,627 |
听 |
听 |
6,272 |
听 |
听 |
195,278 |
听 |
||||
Provision for income taxes |
听 |
听 |
29,762 |
听 |
听 |
1,864 |
听 |
听 |
10,214 |
听 |
听 |
389 |
听 |
听 |
1,506 |
听 |
听 |
43,735 |
听 |
||||
Consolidated net income |
听 |
听 |
109,624 |
听 |
听 |
5,592 |
听 |
听 |
30,323 |
听 |
听 |
1,238 |
听 |
听 |
4,766 |
听 |
听 |
151,543 |
听 |
||||
Noncontrolling interests |
听 |
听 |
926 |
听 |
听 |
135 |
听 |
听 |
鈥� |
听 |
听 |
鈥� |
听 |
听 |
鈥� |
听 |
听 |
1,061 |
听 |
||||
Net income attributable to shareholders |
听 |
$ |
108,698 |
听 |
$ |
5,457 |
听 |
$ |
30,323 |
听 |
$ |
1,238 |
听 |
$ |
4,766 |
听 |
$ |
150,482 |
听 |
||||
Net income per diluted share (4) |
听 |
$ |
2.01 |
听 |
$ |
0.10 |
听 |
$ |
0.56 |
听 |
$ |
0.02 |
听 |
$ |
0.09 |
听 |
$ |
2.78 |
听 |
||||
Effective tax rate (5) |
听 |
听 |
21.4 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
22.4 |
% |
||||
ARROW ELECTRONICS, INC. NON-GAAP EARNINGS RECONCILIATION (In thousands except per share data) (Unaudited) |
|||||||||||||||||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
Six months ended June 28, 2025 |
听 |
||||||||||||||||||||||
听 |
听 |
Reported |
听 |
Intangible |
听 |
Restructuring, |
听 |
Impact of |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||||||
听 |
听 |
GAAP |
听 |
amortization |
听 |
Integration |
听 |
Wind |
听 |
听 |
听 |
听 |
Non-GAAP |
听 |
|||||||||
听 |
听 |
measure |
听 |
expense |
听 |
and other |
听 |
Down(1) |
听 |
听 |
Other(2) |
听 |
听 |
measure |
听 |
||||||||
Operating income |
听 |
$ |
349,139 |
听 |
听 |
$ |
10,230 |
听 |
$ |
39,232 |
听 |
$ |
(4,639 |
) |
听 |
$ |
172 |
听 |
听 |
$ |
394,134 |
听 |
听 |
Income before income taxes |
听 |
听 |
336,165 |
听 |
听 |
听 |
10,230 |
听 |
听 |
39,232 |
听 |
听 |
(4,639 |
) |
听 |
听 |
(103,944 |
) |
听 |
听 |
277,044 |
听 |
听 |
Provision for income taxes |
听 |
听 |
69,279 |
听 |
听 |
听 |
2,524 |
听 |
听 |
10,098 |
听 |
听 |
(1,470 |
) |
听 |
听 |
(25,152 |
) |
听 |
听 |
55,279 |
听 |
听 |
Consolidated net income |
听 |
听 |
266,886 |
听 |
听 |
听 |
7,706 |
听 |
听 |
29,134 |
听 |
听 |
(3,169 |
) |
听 |
听 |
(78,792 |
) |
听 |
听 |
221,765 |
听 |
听 |
Noncontrolling interests |
听 |
听 |
(583 |
) |
听 |
听 |
156 |
听 |
听 |
鈥� |
听 |
听 |
鈥� |
听 |
听 |
听 |
鈥� |
听 |
听 |
听 |
(427 |
) |
听 |
Net income attributable to shareholders |
听 |
$ |
267,469 |
听 |
听 |
$ |
7,550 |
听 |
$ |
29,134 |
听 |
$ |
(3,169 |
) |
听 |
$ |
(78,792 |
) |
听 |
$ |
222,192 |
听 |
听 |
Net income per diluted share (4) |
听 |
$ |
5.09 |
听 |
听 |
$ |
0.14 |
听 |
$ |
0.55 |
听 |
$ |
(0.06 |
) |
听 |
$ |
(1.50 |
) |
听 |
$ |
4.23 |
听 |
听 |
Effective tax rate (5) |
听 |
听 |
20.6 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
20.0 |
% |
||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
Six months ended June 29, 2024 |
听 |
||||||||||||||||||
听 |
听 |
Reported |
听 |
Intangible |
听 |
Restructuring, |
听 |
Impact of |
听 |
听 |
听 |
听 |
听 |
听 |
|||||
听 |
听 |
GAAP |
听 |
amortization |
听 |
Integration |
听 |
Wind |
听 |
听 |
听 |
听 |
Non-GAAP |
听 |
|||||
听 |
听 |
measure |
听 |
expense |
听 |
and other |
听 |
Down(1) |
听 |
听 |
Other(3) |
听 |
听 |
measure |
听 |
||||
Operating income |
听 |
$ |
398,192 |
听 |
$ |
15,002 |
听 |
$ |
87,393 |
听 |
$ |
12,086 |
听 |
$ |
鈥� |
听 |
$ |
512,673 |
听 |
Income before income taxes |
听 |
听 |
244,520 |
听 |
听 |
15,002 |
听 |
听 |
87,393 |
听 |
听 |
12,086 |
听 |
听 |
6,174 |
听 |
听 |
365,175 |
听 |
Provision for income taxes |
听 |
听 |
51,798 |
听 |
听 |
3,743 |
听 |
听 |
22,228 |
听 |
听 |
2,891 |
听 |
听 |
1,482 |
听 |
听 |
82,142 |
听 |
Consolidated net income |
听 |
听 |
192,722 |
听 |
听 |
11,259 |
听 |
听 |
65,165 |
听 |
听 |
9,195 |
听 |
听 |
4,692 |
听 |
听 |
283,033 |
听 |
Noncontrolling interests |
听 |
听 |
423 |
听 |
听 |
270 |
听 |
听 |
鈥� |
听 |
听 |
鈥� |
听 |
听 |
鈥� |
听 |
听 |
693 |
听 |
Net income attributable to shareholders |
听 |
$ |
192,299 |
听 |
$ |
10,989 |
听 |
$ |
65,165 |
听 |
$ |
9,195 |
听 |
$ |
4,692 |
听 |
$ |
282,340 |
听 |
Net income per diluted share (4) |
听 |
$ |
3.53 |
听 |
$ |
0.20 |
听 |
$ |
1.20 |
听 |
$ |
0.17 |
听 |
$ |
0.09 |
听 |
$ |
5.18 |
听 |
Effective tax rate (5) |
听 |
听 |
21.2 |
% |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
22.5 |
% |
| _______________ | ||
(1) |
Includes write downs (recoveries) of inventory related to the wind down of businesses. |
|
(2) |
Other includes gain on investments, net, non-recurring tax items, and employee severance and benefits costs not related to restructuring initiative presented in cost of sales. |
|
(3) |
Other includes loss (gain) on investments, net and loss on extinguishment of debt. |
|
(4) |
The sum of the components for non-GAAP diluted EPS, as adjusted may not agree to totals, as presented, due to rounding. |
|
(5) |
The items as shown in this table, represent the reconciling items for the tax rate as reported and as a non-GAAP measure. |
|
ARROW ELECTRONICS, INC. SEGMENT INFORMATION (In thousands) (Unaudited) |
||||||||||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
听 |
听 |
Quarter Ended |
听 |
Six Months Ended |
||||||||||||
听 |
听 |
June 28, |
听 |
June 29, |
听 |
June 28, |
听 |
June 29, |
||||||||
听 |
听 |
2025 |
听 |
2024 |
听 |
2025 |
听 |
2024 |
||||||||
Sales: |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
Global components |
听 |
$ |
5,284,898 |
听 |
听 |
$ |
5,032,031 |
听 |
听 |
$ |
10,062,620 |
听 |
听 |
$ |
10,223,448 |
听 |
Global ECS |
听 |
听 |
2,295,049 |
听 |
听 |
听 |
1,860,837 |
听 |
听 |
听 |
4,331,344 |
听 |
听 |
听 |
3,593,680 |
听 |
Consolidated |
听 |
$ |
7,579,947 |
听 |
听 |
$ |
6,892,868 |
听 |
听 |
$ |
14,393,964 |
听 |
听 |
$ |
13,817,128 |
听 |
Operating income (loss): |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
Global components (a) |
听 |
$ |
186,808 |
听 |
听 |
$ |
210,201 |
听 |
听 |
$ |
358,193 |
听 |
听 |
$ |
435,763 |
听 |
Global ECS (b) |
听 |
听 |
96,969 |
听 |
听 |
听 |
102,581 |
听 |
听 |
听 |
174,283 |
听 |
听 |
听 |
174,040 |
听 |
Corporate (c) |
听 |
听 |
(93,191 |
) |
听 |
听 |
(100,507 |
) |
听 |
听 |
(183,337 |
) |
听 |
听 |
(211,611 |
) |
Consolidated |
听 |
$ |
190,586 |
听 |
听 |
$ |
212,275 |
听 |
听 |
$ |
349,139 |
听 |
听 |
$ |
398,192 |
听 |
| (a) |
Global components operating income includes recoveries of |
|
| (b) |
Global ECS operating income includes a |
|
| (c) |
Corporate operating loss includes restructuring, integration, and other charges of |
ARROW ELECTRONICS, INC. NON-GAAP SEGMENT RECONCILIATION (In thousands) (Unaudited) |
|||||||||||||||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
听 |
听 |
Quarter Ended |
听 |
Six Months Ended |
听 |
||||||||||||
听 |
听 |
June 28, |
听 |
June 29, |
听 |
June 28, |
听 |
June 29, |
听 |
||||||||
听 |
听 |
2025 |
听 |
听 |
2024 |
听 |
听 |
2025 |
听 |
听 |
2024 |
听 |
听 |
||||
Global components gross profit, as reported |
听 |
$ |
591,454 |
听 |
听 |
$ |
624,860 |
听 |
听 |
$ |
1,146,399 |
听 |
听 |
$ |
1,270,574 |
听 |
听 |
Impact of wind down to inventory |
听 |
听 |
(2,172 |
) |
听 |
听 |
1,627 |
听 |
听 |
听 |
(4,639 |
) |
听 |
听 |
12,086 |
听 |
听 |
Other |
听 |
听 |
172 |
听 |
听 |
听 |
鈥� |
听 |
听 |
听 |
172 |
听 |
听 |
听 |
鈥� |
听 |
听 |
Global components non-GAAP gross profit |
听 |
$ |
589,454 |
听 |
听 |
$ |
626,487 |
听 |
听 |
$ |
1,141,932 |
听 |
听 |
$ |
1,282,660 |
听 |
听 |
Global components gross profit as a percentage of sales, as reported |
听 |
听 |
11.2 |
% |
听 |
12.4 |
% |
听 |
11.4 |
% |
听 |
12.4 |
% |
||||
Global components non-GAAP gross profit as a percentage of sales |
听 |
听 |
11.2 |
% |
听 |
12.4 |
% |
听 |
11.3 |
% |
听 |
12.5 |
% |
||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
Global ECS gross profit, as reported |
听 |
$ |
257,203 |
听 |
听 |
$ |
221,584 |
听 |
听 |
$ |
476,250 |
听 |
听 |
$ |
433,696 |
听 |
听 |
Global ECS gross profit as a percentage of sales, as reported |
听 |
听 |
11.2 |
% |
听 |
11.9 |
% |
听 |
11.0 |
% |
听 |
12.1 |
% |
||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
听 |
听 |
Quarter Ended |
听 |
Six Months Ended |
听 |
||||||||||||
听 |
听 |
June 28, |
听 |
June 29, |
听 |
June 28, |
听 |
June 29, |
听 |
||||||||
听 |
听 |
2025 |
听 |
听 |
2024 |
听 |
听 |
2025 |
听 |
听 |
2024 |
听 |
听 |
||||
Global components operating income, as reported |
听 |
$ |
186,808 |
听 |
听 |
$ |
210,201 |
听 |
听 |
$ |
358,193 |
听 |
听 |
$ |
435,763 |
听 |
听 |
Intangible assets amortization expense |
听 |
听 |
3,945 |
听 |
听 |
听 |
6,399 |
听 |
听 |
听 |
8,383 |
听 |
听 |
听 |
12,887 |
听 |
听 |
Impact of wind down to inventory |
听 |
听 |
(2,172 |
) |
听 |
听 |
1,627 |
听 |
听 |
听 |
(4,639 |
) |
听 |
听 |
12,086 |
听 |
听 |
Other |
听 |
听 |
172 |
听 |
听 |
听 |
鈥� |
听 |
听 |
听 |
172 |
听 |
听 |
听 |
鈥� |
听 |
听 |
Global components non-GAAP operating income |
听 |
$ |
188,753 |
听 |
听 |
$ |
218,227 |
听 |
听 |
$ |
362,109 |
听 |
听 |
$ |
460,736 |
听 |
听 |
Global components operating income as a percentage of sales, as reported |
听 |
听 |
3.5 |
% |
听 |
4.2 |
% |
听 |
3.6 |
% |
听 |
4.3 |
% |
||||
Global components non-GAAP operating income as a percentage of sales |
听 |
听 |
3.6 |
% |
听 |
4.3 |
% |
听 |
3.6 |
% |
听 |
4.5 |
% |
||||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||||
Global ECS operating income, as reported |
听 |
$ |
96,969 |
听 |
听 |
$ |
102,581 |
听 |
听 |
$ |
174,283 |
听 |
听 |
$ |
174,040 |
听 |
听 |
Intangible assets amortization expense |
听 |
听 |
925 |
听 |
听 |
听 |
1,057 |
听 |
听 |
听 |
1,847 |
听 |
听 |
听 |
2,115 |
听 |
听 |
Global ECS non-GAAP operating income |
听 |
$ |
97,894 |
听 |
听 |
$ |
103,638 |
听 |
听 |
$ |
176,130 |
听 |
听 |
$ |
176,155 |
听 |
听 |
Global ECS operating income as a percentage of sales, as reported |
听 |
听 |
4.2 |
% |
听 |
5.5 |
% |
听 |
4.0 |
% |
听 |
4.8 |
% |
||||
Global ECS non-GAAP operating income as a percentage of sales |
听 |
听 |
4.3 |
% |
听 |
5.6 |
% |
听 |
4.1 |
% |
听 |
4.9 |
% |
||||
听
View source version on businesswire.com:
Investors:
Rick Seidlitz,
Vice President, Investor Relations
303-305-4936
Media:
John Hourigan,
Vice President, Public Affairs and Corporate Marketing
303-824-4586
Source: Arrow Electronics
