Here's What Key Metrics Tell Us About Arrow Electronics (ARW) Q2 Earnings
For the quarter ended June 2023, Arrow Electronics (ARW) reported revenue of $8.51 billion, down 10% over the same period last year. EPS came in at $4.37, compared to $5.78 in the year-ago quarter.
The reported revenue represents a surprise of -1.90% over the Zacks Consensus Estimate of $8.68 billion. With the consensus EPS estimate being $4.33, the EPS surprise was +0.92%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $2.07 billion compared to the $2.26 billion average estimate based on two analysts. The reported number represents a change of -16.7% year over year.
Geographic Revenue- Europe components sales, as reported: $2.15 billion compared to the $1.97 billion average estimate based on two analysts. The reported number represents a change of +19.1% year over year.
Geographic Revenue- Europe ECS sales as reported: $831.13 million versus $888.09 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.
Geographic Revenue- Americas ECS sales as reported: $1 billion compared to the $986.29 million average estimate based on two analysts. The reported number represents a change of -13.8% year over year.
Geographic Revenue- Asia components sales, as reported: $2.46 billion versus $2.58 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -22.4% change.
Net Sales- Global ECS: $1.83 billion versus the three-analyst average estimate of $1.87 billion. The reported number represents a year-over-year change of -8.4%.
Net Sales- Global components: $6.68 billion versus the three-analyst average estimate of $6.79 billion. The reported number represents a year-over-year change of -10.4%.
Operating income (loss)- Global ECS, as reported: $86.23 million compared to the $88.01 million average estimate based on two analysts.
Operating income (loss)- Global components, as reported: $381.31 million versus $387.21 million estimated by two analysts on average.
View all Key Company Metrics for Arrow Electronics here>>>
Shares of Arrow Electronics have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.5% 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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