Arrow Electronics Inc. Q4 Profit Decreases, but beats estimates

February 08, 2024 — 08:03 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - Arrow Electronics Inc. (ARW) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $195 million, or $3.54 per share. This compares with $349 million, or $5.66 per share, in last year's fourth quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $219 million or $3.98 per share for the period.

Analysts on average had expected the company to earn $3.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.8% to $7.85 billion from $9.32 billion last year.

Arrow Electronics Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $195 Mln. vs. $349 Mln. last year. -EPS (Q4): $3.54 vs. $5.66 last year. -Analyst Estimates: $3.72 -Revenue (Q4): $7.85 Bln vs. $9.32 Bln last year.

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Arrow Electronics Inc. Q4 Profit Decreases, but beats estimates

Tags

Latest Articles