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Arrow Electronics, Inc. - ARW STOCK NEWS

Welcome to our dedicated page for Arrow Electronics news (Ticker: ARW), a resource for investors and traders seeking the latest updates and insights on Arrow Electronics stock.

Arrow Electronics, Inc. (NYSE: ARW) is a global provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. With a robust portfolio that spans the world's most critical technologies, Arrow Electronics supports everything from automotive systems to everyday household gadgets. The company leverages its extensive network of suppliers and industry expertise to help businesses innovate, accelerate their time to market, and boost their competitiveness.

Founded in 1935 and headquartered in Centennial, Colorado, Arrow Electronics is a Fortune 150 company that reported sales of $33 billion in 2023. The firm employs approximately 17,000 people across more than 460 locations in 56 countries. Arrow operates through two main business segments: the Components Business and Enterprise Computing Solutions.

Arrow Electronics has earned a reputation for being a forward-thinking company, often collaborating with leading technology manufacturers to design and source the next generation of products. Their commitment to innovation is evident in their partnerships and initiatives, such as sponsoring the FIRST® Robotics Competitions and supporting STEM education programs worldwide. In 2024, Arrow continued its tradition of fostering the next generation of engineers by organizing several events, including the Colorado Regional FIRST® Robotics Competition.

Arrow also prioritizes sustainability and social responsibility. The company's 2023 ESG Report outlines its efforts and goals in environmental, social, and governance aspects, reaffirming its commitment to acting on global challenges. By integrating ESG principles into its daily operations, Arrow aims to not only achieve business objectives but also create a positive impact on the communities it serves.

Recently, Arrow teamed up with the Colorado Rockies to support youth initiatives in the Denver area, demonstrating its dedication to community engagement. This collaboration included honoring the nonprofit organization A Precious Child during the opening day of the 2024 Major League Baseball season, further showcasing Arrow’s commitment to societal welfare.

For those looking to stay updated on Arrow Electronics' latest news and developments, the company continues to be a focal point of innovation and growth in the technology sector. Learn more at arrow.com.

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Arrow Electronics (NYSE:ARW) has announced its upcoming second-quarter 2024 earnings conference call, scheduled for August 1, 2024, at 1:00 p.m. ET. Investors and interested parties can access the live webcast through the company's investor relations website or via a direct link. A replay of the webcast will be available on Arrow's website for one year following the call.

Arrow Electronics, with 2023 sales of $33 billion, is a leading technology solutions provider that serves manufacturers and service providers globally. The company focuses on developing technology solutions to improve business operations and daily life.

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Arrow Electronics has joined the Businesses for Environmental Excellence (BEE) Sustainable Partners Program, a coalition created by the Butterfly Pavilion to protect Colorado's native pollinators. The program aims to restore or conserve 300 acres of habitat in eight Colorado municipalities this year, safeguarding butterflies, bees, beetles, and other important insects.

As part of the initiative, BEE member companies will receive expert speakers from the Butterfly Pavilion to educate employees about pollinator importance. Employees will also have opportunities to work in the Pavilion's Discovery Gardens and help restore local pollinator habitats. The Butterfly Pavilion, located in Westminster, Colorado, focuses on invertebrate appreciation, habitat protection, and conservation research.

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Arrow Electronics has unveiled an AI-powered steering system for its SAM (Semi-Autonomous Mobility) Car, featuring NVIDIA's advanced Jetson AGX Orin module. This new system utilizes facial recognition to control the car via head motions, offering high accuracy and low latency, essential for speeds up to 213 mph. Quadriplegic racecar driver Sam Schmidt showcased the system's capabilities by driving competitively using head movements. The technology holds potential for broader applications, such as controlling vehicles and heavy machinery in various industries, thereby enabling multitasking for operators with physical disabilities.

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Arrow Electronics and Bourns announced a strategic partnership aimed at advancing high-power solutions important for electrification and sustainability initiatives. This collaboration will utilize Bourns' expertise in customized magnetic components and Arrow's newly established High-Power Centre of Excellence in the UK. The partnership targets various net-zero projects, including electric vehicles, renewable energy, and grid infrastructure, by developing high-power designs enhanced by Silicon Carbide (SiC) MOSFETs, Gallium Nitride (GaN), and Pseudomorphic High-Electron-Mobility Transistors (pHEMTs). Challenges such as functional safety, PCB layout, and testing equipment will be addressed, accelerating and de-risking design cycles for customers globally.

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Arrow Electronics has been honored with Rubrik's 2024 Global Partner Award for Distribution Partner of the Year. This accolade recognizes Arrow's exceptional performance in delivering Rubrik's data security solutions globally. The announcement was made during the Partner Forum at Rubrik Forward, a significant event where industry leaders discuss data security and cyber resilience. Eric Nowak, Arrow's global president of enterprise computing solutions, acknowledged the importance of this collaboration in enhancing data security against cyber threats. Ghazal Asif, Rubrik's VP of Global Channels & Alliances, celebrated the partnership, emphasizing their shared goal of improving cyber resilience worldwide.

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Arrow Electronics has entered a strategic distribution agreement with SiMa.ai, a company specializing in embedded edge machine learning systems. This partnership will enable Arrow to distribute SiMa.ai's products, including the MLSoC (Machine Learning System on Chip) and Palette Software, across the EMEA region. The MLSoC platform supports various AI/ML workloads, delivering high performance and efficiency.

This collaboration aims to address the growing demand for AI solutions in sectors like industrial manufacturing, retail, aerospace, defense, agriculture, and healthcare. Arrow will showcase SiMa.ai's offerings at Hardware Pioneers Max in London on 28-29 May 2024 and will participate in a talk on accelerating vision pipelines in AI on 29 May 2024.

Prospective customers can learn more through an Arrow webinar featuring SiMa.ai on 10 June 2024 or book an AI consultation with Arrow experts.

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Arrow Electronics (NYSE: ARW) announced it will present at the Stifel Cross Sector Insight Conference on June 4, 2024, in Boston. The company, which reported $33 billion in sales for 2023, will have its management present at 10:55 a.m. ET. Management will also be available for one-on-one meetings with investors. The presentation can be accessed via webcast on the Arrow Electronics investor page. Arrow Electronics supports innovation for leading technology manufacturers and service providers globally.

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Arrow Electronics has partnered with Resideo Technologies to integrate smart home technologies into Habitat for Humanity's new Mountain View Community in Aurora, CO. This initiative aims to provide affordable, energy-efficient, and secure housing for new homeowners. The project includes smart thermostats, air treatment systems, security cameras, and water leak detection systems, all designed to operate without increasing construction costs or adding expenses for residents. The Mountain View Community will feature 20 homes and is set to welcome homeowners by early 2025.

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Arrow Electronics has partnered with the Colorado Rockies to support Denver-area youth during the 2024 Major League Baseball season. They honored the nonprofit A Precious Child, with Arrow employees volunteering and providing support through various initiatives. Additionally, Arrow participated in the Colorado Rockies 13th Annual STEM Day, showcasing their SAM Car and promoting STEM learning opportunities globally.

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Arrow Electronics, Inc. (NYSE: ARW) reported sales of $6.9 billion in line with guidance for the first quarter of 2024. First-quarter earnings per diluted share were $1.53, with non-GAAP earnings per diluted share at $2.41. Sales decreased by 21% year over year, with global components and enterprise computing solutions experiencing declines. The company generated $403 million in cash flow from operations and repurchased approximately $100 million of shares. The second-quarter outlook includes consolidated sales of $6.20 billion to $6.80 billion and net income per share on a diluted basis of $1.65 to $1.85.

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FAQ

What is Arrow Electronics, Inc. known for?

Arrow Electronics, Inc. is known for providing products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions.

Where is Arrow Electronics headquartered?

Arrow Electronics is headquartered in Centennial, Colorado.

How many employees does Arrow Electronics have?

Arrow Electronics has approximately 17,000 employees worldwide.

What are the major business segments of Arrow Electronics?

Arrow Electronics operates through two main business segments: the Components Business and Enterprise Computing Solutions.

What was Arrow Electronics' revenue in 2023?

Arrow Electronics reported sales of $33 billion in 2023.

How does Arrow Electronics contribute to innovation?

Arrow Electronics collaborates with leading technology manufacturers to design and source next-generation products. It supports STEM education and sponsors events like the FIRST® Robotics Competitions.

What initiatives does Arrow Electronics support in the community?

Arrow Electronics supports numerous initiatives, such as youth programs with the Colorado Rockies, robotics competitions, and STEM education programs.

What are the environmental, social, and governance efforts of Arrow Electronics?

Arrow Electronics integrates ESG principles into its operations, as detailed in its 2023 ESG Report, focusing on sustainability, social responsibility, and governance.

Where can I find more information about Arrow Electronics' latest developments?

You can find more information on Arrow Electronics' website at http://www.arrow.com and stay updated with their latest news and developments.

Arrow Electronics, Inc.

NYSE:ARW

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