Welcome to our dedicated page for Arrow Electronics news (Ticker: ARW), a resource for investors and traders seeking the latest updates and insights on Arrow Electronics stock.
Arrow Electronics, Inc. (NYSE: ARW) is a global provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. With a robust portfolio that spans the world's most critical technologies, Arrow Electronics supports everything from automotive systems to everyday household gadgets. The company leverages its extensive network of suppliers and industry expertise to help businesses innovate, accelerate their time to market, and boost their competitiveness.
Founded in 1935 and headquartered in Centennial, Colorado, Arrow Electronics is a Fortune 150 company that reported sales of $33 billion in 2023. The firm employs approximately 17,000 people across more than 460 locations in 56 countries. Arrow operates through two main business segments: the Components Business and Enterprise Computing Solutions.
Arrow Electronics has earned a reputation for being a forward-thinking company, often collaborating with leading technology manufacturers to design and source the next generation of products. Their commitment to innovation is evident in their partnerships and initiatives, such as sponsoring the FIRST® Robotics Competitions and supporting STEM education programs worldwide. In 2024, Arrow continued its tradition of fostering the next generation of engineers by organizing several events, including the Colorado Regional FIRST® Robotics Competition.
Arrow also prioritizes sustainability and social responsibility. The company's 2023 ESG Report outlines its efforts and goals in environmental, social, and governance aspects, reaffirming its commitment to acting on global challenges. By integrating ESG principles into its daily operations, Arrow aims to not only achieve business objectives but also create a positive impact on the communities it serves.
Recently, Arrow teamed up with the Colorado Rockies to support youth initiatives in the Denver area, demonstrating its dedication to community engagement. This collaboration included honoring the nonprofit organization A Precious Child during the opening day of the 2024 Major League Baseball season, further showcasing Arrow’s commitment to societal welfare.
For those looking to stay updated on Arrow Electronics' latest news and developments, the company continues to be a focal point of innovation and growth in the technology sector. Learn more at arrow.com.
Arrow Electronics (NYSE:ARW) has appointed Lawrence (Liren) Chen to its board of directors, expanding the board to 10 members. Chen, who currently serves as president, CEO, and board member of InterDigital, will also join Arrow's audit committee. He brings extensive experience from his nearly 25-year tenure at Qualcomm, where he last served as senior vice president and global head of IP, legal counsel. Chen's expertise spans technology, business strategy, product management, and global ecosystem development. He is also a member of the U.S. Chamber of Commerce China Advisory Committee and the Council for Inclusive Innovation of the U.S. Patent and Trademark Office.
Arrow Electronics has signed a new agreement with Broadcom to distribute VMware solutions in the U.S. and Canada. The partnership enables Arrow to deliver VMware private cloud infrastructure solutions through its ArrowSphere platform, including VMware Cloud Foundation, vSphere Foundation, vSAN, and vSphere Standard. Channel partners will receive immediate access to Arrow's personalized assistance, training programs, and certified resources. Arrow will also provide specialized services, sales engineering, and technical support capabilities for VMware solutions as an extension of Broadcom support.
Arrow Electronics is leading an initiative to integrate smart home technology into affordable housing through a partnership with Habitat for Humanity in Aurora, Colorado. The Mountain View Community Homes project will feature 20 homes equipped with smart devices aimed at reducing energy consumption, enhancing security, and conserving water. Resideo is contributing Honeywell Home and First Alert solutions, while Rachio is providing smart sprinkler controllers. SiliconLabs is supplying tablets pre-loaded with control apps and components. Arrow employees have contributed nearly 600 volunteer hours to the development.
Arrow Electronics has enhanced its AI-powered ArrowSphere Cloud platform with new capabilities allowing channel partners to create custom AI assistants. These assistants leverage partners' own data, workflows, content, and vendor-specific information to improve efficiency and reduce costs. The platform now includes hundreds of ready-to-use cases and prompts, designed to accelerate customization and enhance go-to-market strategies. ArrowSphere Assistant, launched in March 2024, helps users address critical aspects of cloud business including FinOps, SecOps, and sustainability. The enhanced AI capabilities are currently available in release to ArrowSphere users.
Arrow Electronics (NYSE:ARW) reported third-quarter 2024 financial results with sales of $6.8 billion, reaching the high end of guidance. Net income per diluted share was $1.88, while non-GAAP earnings per share reached $2.38. Global Components sales decreased 21% year-over-year to $4.95 billion amid ongoing inventory corrections. However, Global Enterprise Computing Solutions showed positive momentum, increasing 7% to $1.88 billion. The company reduced inventory by $125 million in Q3 and announced restructuring plans targeting $90-100 million in annual cost savings by 2026.
Arrow Electronics (NYSE:ARW) and its engineering services company, eInfochips, have expanded their Automotive Centre of Excellence (CoE) with new development centres in Munich and Istanbul. The expansion aims to support customers in developing next-generation automotive products. The company has strengthened its capabilities through the acquisition of iQmine, a leading engineering services provider specializing in AUTOSAR, ECU software development, functional safety, and vehicle diagnostics. This strategic move addresses the industry's challenges in adopting connected, autonomous, and hybrid software technologies, particularly for companies lacking in-house engineering expertise.
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.
FAQ
What is the current stock price of Arrow Electronics (ARW)?
What is the market cap of Arrow Electronics (ARW)?
What is Arrow Electronics, Inc. known for?
Where is Arrow Electronics headquartered?
How many employees does Arrow Electronics have?
What are the major business segments of Arrow Electronics?
What was Arrow Electronics' revenue in 2023?
How does Arrow Electronics contribute to innovation?
What initiatives does Arrow Electronics support in the community?
What are the environmental, social, and governance efforts of Arrow Electronics?
Where can I find more information about Arrow Electronics' latest developments?
