Arrow Electronics, Inc. (NYSE:ARW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Arrow Electronics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 15.24% to $0.89 in the quarter versus EPS of $1.05 in the year-earlier quarter.
Revenue: Decreased 0.75% to $4.85 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Arrow Electronics, Inc. reported adjusted EPS income of $0.89 per share. By that measure, the company beat the mean analyst estimate of $0.88. It beat the average revenue estimate of $4.82 billion.
Quoting Management: “We performed well in the first quarter. Sales of $4.8 billion were in line with our expectations and earnings per share of $.89 were above the midpoint of our guidance. Our ECS business continues to deliver excellent performance, reaching record-level first-quarter sales, while posting the 13th consecutive quarter of organic growth,” said Michael J. Long, chairman, president, and chief executive officer. “As we look to the second quarter, we would expect the world’s economies to be consistent with what we experienced in the first quarter, and therefore we would expect to see normal seasonality across our businesses.”
Key Stats (on next page)…
Revenue decreased 10.18% from $5.4 billion in the previous quarter. EPS decreased 27.05% from $1.22 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.04 to a profit $1.05. For the current year, the average estimate has moved down from a profit of $4.36 to a profit of $4.32 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)