ARW
Arrow Electronics, Inc.112.76
-0.70-0.62%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms gradual recovery momentum
Q&A largely reaffirmed the gradual components recovery and Q1 momentum scripted earlier, with no unusual billing or booking pull-forwards. Management detailed Americas strength in industrial and mil/aero, EMEA backlog builds across verticals, and ECS hardware growth in networking/security comprising 25% of billings. Value-added services extend core offerings across markets at least 2x normal gross margins. Interest expense undershot on working capital timing and lower short-term rates, guiding $60M for Q1. Visibility stays cloudy beyond 90 days. No contradictions surfaced. Investors will track above-seasonal Q1 trends by region.
Key Stats
Market Cap
5.81BP/E (TTM)
12.46Basic EPS (TTM)
9.05Dividend Yield
0%Recent Filings
10-K
FY2025 results
Arrow Electronics posted FY2025 sales of $30.9B, up 10.5% y/y, with global components at $21.5B (+7.6%) and global ECS surging 17.8% to $9.4B on EMEA strength. Gross margins slipped to 11.2% from 11.8%, pinched by ECS losses on multi-year contracts and components mix shift to lower-margin Asia/Pacific; operating income edged up 7% to $822M. Q4 sales hit $8.7B, driving working capital to 21.3% of sales amid inventory builds for recovery. Buybacks tapped $150M, leaving $173M authorized, with $3.1B debt and $2.5B+ liquidity. Yet supplier disruptions like the brief BIS entity list hit Q4 Asia flows. Global economic weakness threatens demand momentum.
8-K
Q4 sales soar 20%
8-K
Q3 sales up 13%, EPS beats
Arrow Electronics posted Q3 2025 sales of $7.7B, up 13% year-over-year, with EPS at $2.09 topping guidance amid market recovery. Global Components rose 12% to $5.6B; ECS hit $2.2B up 15%, yet operating income fell 16% from $21M underperforming contract charges. Q4 guides $7.8B-$8.4B sales. ECS margins squeezed.
10-Q
Q3 FY2025 results
Arrow Electronics posted Q3 sales of $7.7B, up 13% y/y, driven by 12% growth in global components and 15% in ECS, though gross margins slipped to 10.8% from 11.5% on ECS purchase obligation losses and regional mix. Operating income edged up 2% to $179M (2.3% margin), with diluted EPS at $2.09, up 11%, reconciling to 52.1M shares. Cash dipped to $214M amid $136M operating outflow, yet $2B revolver sits undrawn and long-term debt steady at $3.1B. Restructuring under the Operating Expense Efficiency Plan racked $35M charges. Entity List restrictions briefly hit China ops.
8-K
CEO Kerins out, Austen interim
Arrow Electronics replaced CEO Sean Kerins with board director Bill Austen as interim President and CEO, effective September 16, 2025. Kerins separated without severance but secured SERP benefits, vested options exercisable for 24 months, and $61,000 monthly transition pay for six months. Board shrinks to nine. Leadership shift signals transition; Q3 outlook reaffirmed.
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