Arrow Electrs Inc Stock Price, News & Analysis

Arrow Electronics (NYSE:ARW) has announced it will host a conference call to discuss its third-quarter 2024 financial results on Oct. 31, 2024, at 1:00 p.m. ET. A live webcast of the call will be available via the events section of investor.arrow.com or through a direct webcast link. A replay of the webcast will be accessible on the Arrow website for one year after the call.

Arrow Electronics is a global technology solutions provider, sourcing and engineering solutions for numerous leading manufacturers and service providers. The company reported global sales of $33 billion in 2023, with its portfolio enabling technology across major industries and markets.

Arrow Electronics has announced the global availability of ArrowSphere Assistant, an AI-powered copilot tool designed to enhance channel partners' performance and efficiency in managing cloud businesses through the ArrowSphere Cloud platform. The tool provides deeper data insights, visual aids, and improved operational workflows, making cloud management more efficient and informed.

Key features of ArrowSphere Assistant include:

• Ability to uncover new business opportunities
• Improved FinOps activities
• Enhanced comprehension of customers' security posture

Early adopters have reported significant benefits, with 90% of current users rating the assistant capabilities 8 or above on a 10-point scale, and over 94% recommending it to others. The tool has been road-tested by a global network of Arrow channel partners since its release in March 2024.

Arrow Electronics and Citrix have announced a strategic distribution agreement for North America and EMEA, effective Oct. 1, 2024. Arrow will manage sales, marketing, and technical support for service provider channel partners using fewer than 2,000 Citrix licenses. This move aims to provide greater enablement, flexibility, and support for partners in managing Citrix licenses.

The collaboration builds on Arrow's existing relationship with Citrix and aligns with Citrix's goal of creating a robust, channel-focused strategy. Citrix, now part of Cloud Software Group, will continue to focus on product development, engineering, and support of solutions available to all channel partners. For partners not directly impacted, Citrix plans to invest more deeply in joint go-to-market strategies.

Arrow Electronics (NYSE:ARW) reported Q2 2024 financial results, with sales of $6.9 billion, exceeding guidance. Earnings per diluted share were $2.01, while non-GAAP earnings per diluted share reached $2.78. Global Components sales decreased 25% year-over-year to $5.032 billion, while Global Enterprise Computing Solutions (ECS) sales increased 2% to $1.861 billion. The company generated $320 million in cash flow from operations and repurchased $50 million in shares. For Q3 2024, Arrow expects consolidated sales between $6.37 billion and $6.97 billion, with non-GAAP earnings per diluted share projected at $2.10 to $2.30.

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.

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.

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.

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.

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.