Arrow Electronics Posts 2Q Earnings

Arrow ElectronicsCENTENNIAL, Colo. (AP) — Arrow Electronics Inc. reported second-quarter earnings of $169.9 million.

On a per-share basis, the Centennial, Colorado-based company said it had profit of $1.92. Earnings, adjusted for restructuring costs and amortization costs, came to $2.20 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.

The electronics maker posted revenue of $7.39 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $7.21 billion.

For the current quarter ending in October, Arrow Electronics expects its per-share earnings to range from $2.09 to $2.21.

The company said it expects revenue in the range of $7.15 billion to $7.55 billion for the fiscal third quarter.

Arrow Electronics shares have dropped 5.5 percent since the beginning of the year. The stock has fallen 7 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARW at https://www.zacks.com/ap/ARW

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