Arrow Electronics (ARW) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Arrow Electronics (ARW) reported revenue of $8.01 billion, down 13.6% over the same period last year. EPS came in at $4.14, compared to $5.45 in the year-ago quarter.
The reported revenue represents a surprise of -1.00% over the Zacks Consensus Estimate of $8.09 billion. With the consensus EPS estimate being $3.48, the EPS surprise was +18.97%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Arrow Electronics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Americas Components sales, as reported: $1.87 billion compared to the $2.01 billion average estimate based on two analysts. The reported number represents a change of -23.5% year over year.
Geographic Revenue- Europe components sales, as reported: $1.99 billion compared to the $1.89 billion average estimate based on two analysts. The reported number represents a change of +2.7% year over year.
Geographic Revenue- Europe ECS sales as reported: $745.90 million compared to the $817.18 million average estimate based on two analysts. The reported number represents a change of +1.9% year over year.
Geographic Revenue- Americas ECS sales as reported: $1.02 billion compared to the $1.02 billion average estimate based on two analysts. The reported number represents a change of -17.7% year over year.
Geographic Revenue- Asia components sales, as reported: $2.39 billion versus $2.35 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -18.2% change.
Net Sales- Global ECS: $1.76 billion versus the three-analyst average estimate of $1.85 billion. The reported number represents a year-over-year change of -10.4%.
Net Sales- Global components: $6.25 billion versus the three-analyst average estimate of $6.23 billion. The reported number represents a year-over-year change of -14.5%.
Global ECS operating income, as adjusted: $55.85 million versus the two-analyst average estimate of $86.25 million.
Global components operating income, as adjusted: $385.69 million versus $306.80 million estimated by two analysts on average.
View all Key Company Metrics for Arrow Electronics here>>>
Shares of Arrow Electronics have returned -7.4% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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