Arrow Electrs Inc Stock Price, News & Analysis

Arrow Electronics (NYSE:ARW) announced the departure of Christopher D. Stansbury, the CFO, effective April 1, 2022. The company has engaged an executive recruitment firm to find a new CFO. Rick Seidlitz, currently the vice president and corporate controller, will take over as the interim principal financial officer. It's important to note that Stansbury's exit is not linked to the company’s operations, financial reporting, or internal controls. Arrow generated $34 billion in sales in 2021, supporting over 220,000 technology manufacturers and service providers.

Arrow Electronics (NYSE:ARW) reported record fourth-quarter sales of $9.02 billion, up 7% year-over-year, with net income of $371 million or $5.26 per share. Non-GAAP earnings per share were $5.37. Full-year sales of $34.48 billion represented a 20% increase. The company returned $900 million to shareholders through stock repurchases in 2021. For Q1 2022, Arrow forecasts sales between $8.35 billion and $8.95 billion and net income per share of $4.32 to $4.48, despite anticipated foreign exchange impacts.

Arrow Electronics has entered into a partnership with Israeli company Appletec to exclusively produce compact camera modules (CCMs) for embedded applications. These CCMs are designed for various sectors including industrial, medical, and automotive, enhancing products with embedded vision capabilities. Initial offerings include fixed focus models with resolutions up to 4MP and frame rates reaching 360fps. The partnership aims to accelerate development times by offering customizable solutions and software support, leveraging complementary technologies.

Arrow Electronics (NYSE:ARW) will host a conference call on February 3, 2022, at 1:00 PM ET to discuss its fourth-quarter and full-year 2021 financial results. Interested parties can register for the event online for dial-in information or access the live webcast at investor.arrow.com. A replay of the conference call will be available shortly after the event, accessible for one year. In 2020, Arrow reported sales of $29 billion, providing technology solutions for over 180,000 manufacturers and service providers.

Arrow Electronics (NYSE:ARW) has received approval from its Board of Directors to initiate a new $600 million share repurchase program, building on previous buybacks totaling $2 billion between 2016 and 2021. The company's chairman, Michael J. Long, emphasized the ability to return cash to shareholders through effective management of growth and profitability, having reduced shares outstanding by 21% over the past five years. The timing and extent of buybacks will depend on market conditions, and the program may be terminated at any time.

Arrow Electronics (NYSE: ARW) expands its ArrowSphere platform by adding Metallic DMaaS Backup and Recovery solutions, enhancing global data management capabilities. Developed by Commvault, Metallic offers enterprise-grade data protection across various environments including Microsoft 365 and Salesforce. The partnership with Microsoft strengthens the integration, ensuring swift recovery from data loss and cyberattacks. Kristin Russell emphasizes that this addition will accelerate customers' transition to the cloud, providing streamlined services for channel partners.