Arrow Electronics, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 08:03 am EST
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Arrow Electronics, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 7,849.16 million compared to USD 9,323.02 million a year ago. Net income was USD 194.54 million compared to USD 349.4 million a year ago. Basic earnings per share from continuing operations was USD 3.58 compared to USD 5.71 a year ago. Diluted earnings per share from continuing operations was USD 3.54 compared to USD 5.66 a year ago.
For the full year, sales was USD 33,107.12 million compared to USD 37,124.42 million a year ago. Net income was USD 903.51 million compared to USD 1,426.88 million a year ago. Basic earnings per share from continuing operations was USD 16.03 compared to USD 22.01 a year ago. Diluted earnings per share from continuing operations was USD 15.84 compared to USD 21.8 a year ago.
Arrow Electronics, Inc. is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Its segments include the global components business and the global enterprise computing solutions (ECS) business. The global components business segment distributes electronic components to original equipment manufacturers and contract manufacturers. The ECS business segment provides enterprise computing solutions to value-added resellers and managed service providers. The Global ECS portfolio of computing solutions includes cloud and security. Global ECS provides cloud solutions to businesses through ArrowSphere, a cloud marketplace and management platform. It maintains over 180 sales facilities and 39 distribution and value-added centers, serving over 85 countries. Both its segments have operations in each of the three electronics markets; the Americas; Europe, Middle East, and Africa, and Asia-Pacific regions.
ARROW ELECTRONICS, INC. 
