ARROW ELECTRONICS Reports FY2023 Q2 Earnings Results on August 3 2023
August 29, 2023
🌥️Earnings Overview
On August 3 2023, ARROW ELECTRONICS ($NYSE:ARW) released its financial results for the quarter ending June 30 2023. Total revenue for the period was USD 8514.5 million, which was a 10.0% decrease from the same quarter in 2023. Net income for the quarter decreased by 36.1%, to USD 236.6 million, compared to the same quarter the previous year.
Share Price
On Thursday, August 3 2023, ARROW ELECTRONICS reported their fiscal year 2023 second quarter earnings results. The stock opened at $136.4 and closed at $127.7, a drop of 9.6% from the previous closing price of 141.3. ARROW ELECTRONICS attributed this decline in both net income and revenue to the ongoing pandemic, which has led to disruptions in global supply chains and weak demand for many of its products and services.
Overall, the earnings report was mixed, with ARROW ELECTRONICS reporting a drop in both net income and revenue but managing to maintain its operating margins and increase free cash flow. Investors will be monitoring ARROW ELECTRONICS closely as it attempts to navigate the challenging economic environment in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Arrow Electronics. More…
| Total Revenues | Net Income | Net Margin |
| 35.84k | 1.2k | 3.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Arrow Electronics. More…
| Operations | Investing | Financing |
| 346.75 | -68.15 | -335.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Arrow Electronics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 20.54k | 14.88k | 100.36 |
Key Ratios Snapshot
Some of the financial key ratios for Arrow Electronics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.4% | 31.6% | 5.2% |
| FCF Margin | ROE | ROA |
| 0.7% | 20.9% | 5.7% |
Analysis
GoodWhale has conducted an analysis of ARROW ELECTRONICS‘ wellbeing. According to our Risk Rating, ARROW ELECTRONICS is a high risk investment due to its financial and business aspects. After conducting a thorough assessment of the company’s income sheet, cashflow statement, and non financials we have identified three major risk warnings. To access further information on these risks, we invite you to become a registered user of our platform. We are confident that this information will help you make an informed decision on your investment strategy. More…
Peers
Arrow Electronics Inc is one of the leading global distributors of electronic components and enterprise computing solutions. Its main competitors are Avnet Inc, Samsung Electro-Mechanics Co Ltd, and WPG Holding Co Ltd.
– Avnet Inc ($NASDAQ:AVT)
Avnet Inc is an American technology company headquartered in Phoenix, Arizona. The company is a distributor of electronic components, computer products and embedded technology. Avnet was founded in 1921 and has been publicly traded on the New York Stock Exchange since 1963.
As of 2021, Avnet has a market capitalization of $4.14 billion and a return on equity of 16.09%. The company is a distributor of electronic components, computer products and embedded technology. Avnet was founded in 1921 and has been publicly traded on the New York Stock Exchange since 1963.
– Samsung Electro-Mechanics Co Ltd ($KOSE:009150)
Samsung Electro-Mechanics Co Ltd is a South Korean electronics company that specializes in the manufacture of electronic components and devices. The company has a market capitalization of 10.31 trillion as of 2022 and a return on equity of 14.53%. Samsung Electro-Mechanics is a subsidiary of the Samsung Group and its products are used in a wide range of electronic devices, including mobile phones, televisions, computers and digital cameras.
– WPG Holding Co Ltd ($TWSE:3702)
WPG Holding Co Ltd is a leading electronics manufacturer and distributor in Greater China. The company has a market cap of $78.92 billion as of 2022 and a return on equity of 14.11%. WPG Holding Co Ltd is a vertically integrated company with a strong presence in the upstream and downstream segments of the electronics manufacturing value chain. The company has a diversified product portfolio that includes semiconductors, passive components, displays, and assembly and test services. WPG Holding Co Ltd is a major supplier to global electronics brands such as Apple, Huawei, and Xiaomi.
Summary
ARROW ELECTRONICS had a disappointing second quarter, ending June 30 2023, with total revenue of USD 8514.5 million, down 10.0% year-on-year and net income of USD 236.6 million, down 36.1%. The company’s stock price experienced a significant drop on the day the results were released. Investors may be wary of ARROW ELECTRONICS going forward and may be looking for a turnaround in performance in upcoming quarters. While the company’s long-term prospects remain positive, it is clear that substantial improvements must be made in order to realize them.
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