Arrow Electrs Inc Stock Price, News & Analysis

Arrow Electronics (NYSE:ARW) has appointed Rajesh (Raj) K. Agrawal as the new senior vice president and chief financial officer, effective Sept. 6. Agrawal previously served as executive vice president and CFO at Western Union since 2014, where he managed mergers and acquisitions and global operations. His extensive background also includes leadership roles at Deluxe Corp., General Mills, Chrysler Corp., and General Motors Corp. CEO Sean Kerins expressed confidence in Agrawal's capability to drive Arrow's growth and success.

Arrow Electronics, Inc. (NYSE:ARW) reported record second-quarter 2022 sales of $9.46 billion, a 10% increase from $8.56 billion in Q2 2021. Net income rose to $370 million or $5.54 per diluted share, up from $241 million or $3.23 per share last year. Non-GAAP earnings per share reached $5.78.

Despite challenges, Arrow's strong performance highlights robust demand, especially in electronic components. The company faced a $291 million negative impact from currency changes.

Arrow Electronics, Inc. (NYSE:ARW) will host a conference call on August 4, 2022, at 1:00 PM ET to discuss its second-quarter 2022 financial results. Investors can register online to access the call and view a live webcast at investor.arrow.com. Following the event, a replay will be available on the same site for one year. In 2021, Arrow reported sales of $34 billion, serving over 220,000 technology manufacturers and service providers.

On June 24, at the Goodwood Festival of Speed, paralyzed racing driver Sam Schmidt drove the Arrow Electronics Semi-Autonomous Motorcar (SAM Car) up the festival's iconic Hillclimb. Modified from a 2021 McLaren 720S Spider, the car allows Schmidt to drive using head movements and breath controls. Arrow also showcased the SAM Suit exoskeleton and a prototype facial recognition steering system. Schmidt's journey emphasizes Arrow's commitment to enhancing mobility for individuals with disabilities, demonstrating innovative technologies developed in collaboration with Vanderbilt University.

Arrow Electronics (NYSE:ARW) launched the DANI Project at the ChangeNOW Summit in Paris, focusing on innovating data-driven solutions for wheelchair users. The project includes two main technologies: WheelWay, a navigation system for improved city mobility, and DataRally, a performance analytics tool for wheelchair athletes like Dani Caverzaschi. These initiatives utilize advanced data analytics and real-time sensors to enhance independence and competitive performance, aligning with Arrow's mission to drive technology solutions that benefit society.

Arrow Electronics (NYSE:ARW) has appointed Kirk Schell as the new president of its global components business, succeeding David West, who will continue in an advisory role. Schell brings extensive experience from Dell Technologies, where he was senior vice president for online business-to-business sales, overseeing operations in the Asia-Pacific region and commercial clients. This leadership change aims to build upon the growth achieved under West, focusing on driving further success in Arrow's components sector.

Arrow Electronics, Inc. (NYSE:ARW) reported strong first-quarter 2022 results with sales reaching $9.07 billion, an 8% increase from $8.39 billion in Q1 2021. Net income rose to $365 million or $5.31 per share, up from $206 million or $2.72 per share a year earlier. Non-GAAP net income was $373 million or $5.43 per share. Global components sales were $7.20 billion, a 12% increase year-over-year, while enterprise computing solutions dropped 3% to $1.88 billion. The company anticipates continued supply chain challenges and expects Q2 sales between $9.04 billion and $9.64 billion.

Arrow Electronics, Inc. (NYSE:ARW) has appointed Sean J. Kerins as its new president and CEO, effective June 1, 2022. Kerins, a 15-year veteran of the company, previously served as COO and has a strong background in enterprise computing solutions. He succeeds Michael J. Long, who will transition to the role of executive chairman on the same date. The board emphasizes a commitment to succession planning, ensuring continuity for shareholders. Arrow reported $34 billion in sales for 2021, focusing on innovative technology solutions.

Arrow Electronics (NYSE:ARW) will host a conference call on May 5, 2022, at 1:00 PM ET, to discuss its first-quarter financial results. Interested parties can register online for dial-in information or listen to the live webcast available at investor.arrow.com. A replay of the call will be accessible shortly after the conclusion and will remain available for one year. In 2021, Arrow reported sales of $34 billion, providing technology solutions to over 220,000 manufacturers and service providers.