Overview

* Arrow Electronics ( ARW ) Q2 sales rise 10% yr/yr, beating analyst expectations

* Adjusted EPS for Q2 beats consensus, reaching $2.43, per LSEG data

* Co repurchased $50 mln of shares, indicating confidence in financial position

Outlook

* Arrow Electronics ( ARW ) projects Q3 sales of $7.30 bln to $7.90 bln

* Company expects Q3 net income per share of $1.49 to $1.69

* Arrow sees Q3 non-GAAP EPS of $2.16 to $2.36

* Company anticipates foreign currency changes to boost Q3 sales by $135 mln

Result Drivers

* STRONG ASIA MOMENTUM - Global components segment saw strong growth in Asia, contributing to overall sales increase

* IT SERVICES DEMAND - ECS segment growth driven by increased demand for IT as-a-service and Arrowsphere platform adoption

* FOREIGN CURRENCY IMPACT - Positive foreign currency changes contributed $123.3 mln to sales growth and $0.07 to EPS

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Sales Beat $7.58 $7.16

bln bln (5

Analysts

)

Q2 Beat $2.43 $2.07 (5

Adjusted Analysts

EPS )

Q2 EPS $3.59

Q2 Net $188 mln

Income

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)