Arrow Electronics (ARW) Misses Q1 EPS by 12c, Offers Q2 Guidance

Arrow Electronics (NYSE: ARW) reported Q1 EPS of $0.97, $0.12 worse than the analyst estimate of $1.09. Revenue for the quarter came in at $6.38 billion versus the consensus estimate of $6.12 billion.

GUIDANCE:

Arrow Electronics sees Q2 2020 EPS of $1.38-$1.54, versus the consensus of $1.19. Arrow Electronics sees Q2 2020 revenue of $6.08-6.68 billion, versus the consensus of $6.08 billion.

• Consolidated sales of $6.075 billion to $6.675 billion, with global components sales of $4.4 billion to $4.7 billion, and global enterprise computing solutions sales of $1.675 billion to $1.975 billion
• Earnings per share on a diluted basis of $.98 to $1.14, and earnings per share on a diluted basis, excluding certain items1 of $1.38 to $1.54 per share
• Average tax rate of approximately 24 percent compared to the long-term range of 23 to 25 percent
• Average diluted shares outstanding of 81 million
• Interest expense of approximately $40 million
• Expect average USD-to-Euro exchange rate of $1.10 to €1

For earnings history and earnings-related data on Arrow Electronics (ARW) click here.

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