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Arrow Electronics, Inc. reports developments tied to its role as a technology solutions provider for manufacturers and service providers. The company operates through Global Components and global enterprise computing solutions, with recurring updates on revenue, earnings, margins, guidance, gross billings and segment activity.
Company news also covers Arrow’s engineering and digital service offerings, including remote hardware evaluation through Digital Test Drive, customer-facing procurement and engineering workflows on arrow.com, and technical initiatives for vehicle electrical and electronic architecture. Other updates include earnings calls, investor presentations, and customer-support capabilities across component selection, design engineering, integration and supply chain services.
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.
Arrow Electronics (NYSE:ARW) has released its first Environmental, Social, and Governance (ESG) report, detailing performance metrics for 2021 and future goals. The report aims to integrate ESG into all operations to enhance corporate value and community impact. With $34 billion in sales for 2021, Arrow emphasizes its role in innovation, supporting over 220,000 technology manufacturers and service providers. The commitment to corporate citizenship is underscored by the company's leadership in tackling economic, social, and environmental challenges.
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.
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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.
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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.