Free Post Earnings Research Report: Arrow’s Quarterly Sales Advanced 18%; Adjusted EPS Surged 25.5%

Stock Monitor: Ituran Location and Control Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 02, 2018 / Active-Investors.com has just released a free earnings report on Arrow Electronics, Inc. (NYSE: ARW) (“Arrow”). If you want access to this report all you need to do is sign up now by clicking the following link http://active-investors.com/registration-sg/?symbol=ARW. The Company reported its fourth quarter fiscal 2017 operating and financial results on February 06, 2018. The Centennial, Colorado-based Company outperformed top- and bottom-line expectations and provided guidance for the upcoming quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Ituran Location and Control Ltd (NASDAQ: ITRN), which also belongs to the Services sector as the Company Arrow Electronics. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Arrow Electronics most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ARW

Earnings Highlights and Summary

In Q4 2017, Arrow reported sales of $7.63 billion, reflecting an increase of 18% from $6.44 billion in Q4 2016. The Company’s revenue numbers topped analysts’ estimates of $7.45 billion.

For the full fiscal year 2017, Arrow’s sales increased 13% to $26.81 billion from $23.83 billion in FY16.

During Q4 2017, Arrow’s net income was $54 million, or $0.60 per diluted share, compared to $165 million, or $1.81 per diluted share, in Q4 2016.

During Q4 2017, changes in foreign currencies had positive impacts on the growth of approximately $190 million, or 3% on sales, and $0.09, or 5%, on earnings per share (EPS) on a diluted basis compared to Q4 2016. The Company’s reported quarterly net income was negatively impacted by $125 million, or $1.40 per diluted share, related to the US tax legislation.

Excluding certain items, Arrow’s net income would have been $224 million, or $2.51 per diluted share, in the reported quarter, versus $182 million, or $2.00 per diluted share, in the prior year’s same quarter. The Company’s earnings beat Wall Street’s estimates of $2.30 per share.

For FY17, Arrow’s net income was $402 million, or $4.48 per diluted share, compared to $523 million, or $5.68 per diluted share, in FY16. Excluding certain items, the Company’s net income would have been $679 million, or $7.56 per diluted share, in FY17 compared to $610 million, or $6.63 per diluted share, in FY16. During FY17, changes in foreign currencies had positive impacts on the growth of approximately $142 million, or 1% on sales, and $0.07, or 1%, on earnings per diluted share.

Segment Results

During Q4 2017, Arrow’s Global Components segment’s sales surged 24% to $4.94 billion compared to $4.10 billion in Q4 2016. The segment’s Americas Components unit’s sales grew 25% on a y-o-y basis, while its Europe Components unit’s sales advanced 35% to $1.30 billion on a y-o-y basis. Global Components’ Asia/Pacific Components unit’s sales gained 16% to $1.72 billion on a y-o-y basis.

For Q4 2017, Arrow’s Global Enterprise Computing Solutions segment’s sales advanced 10% to $2.69 billion compared to $2.54 billion in Q4 2016. The segment’s sales in the Americas rose 5.5% to $1.72 billion, while its Europe sales gained 19% to $970.88 million y-o-y.

Cash Matters

During Q4 2017, Arrow reduced its net leverage for the second quarter in a row. The Company returned approximately $25 million to shareholders through its stock repurchase program in the reported quarter. In FY17, Arrow returned approximately $161 million to shareholders through its stock repurchase program. The Company had approximately $359 million of remaining authorization under its share repurchase program at the end of FY17.

Outlook

For Q1 2018, Arrow is forecasting total sales to be between $6.4 billion and $6.8 billion, with its Global Components segment’s sales expected to be between $4.7 billion and $4.9 billion, and its Global Enterprise Computing Solutions segment’s sales expected to be between $1.7 billion and $1.9 billion. The Company is estimating diluted EPS to be in the range of $1.50 to $1.62, and earnings, excluding any charges, to be in the band of $1.74 to $1.86 per diluted share. Arrow’s guidance assumes an average tax rate in the range of 23.5% to 25.5%, down from its prior range of 27% to 29% due to the US tax legislation.

Stock Performance Snapshot

March 01, 2018 – At Thursday’s closing bell, Arrow Electronics’ stock fell 2.75%, ending the trading session at $79.34.

Volume traded for the day: 594.04 thousand shares, which was above the 3-month average volume of 488.29 thousand shares.

Stock performance in the previous six-month period – up 2.63%; and past twelve-month period – up 5.27%

After yesterday’s close, Arrow Electronics’ market cap was at $6.99 billion.

Price to Earnings (P/E) ratio was at 13.51.

The stock is part of the Services sector, categorized under the Electronics Wholesale industry.

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