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, Inc. (NYSE: ARW) reported sales of $6.9 billion in line with guidance for the first quarter of 2024. First-quarter earnings per diluted share were $1.53, with non-GAAP earnings per diluted share at $2.41. Sales decreased by 21% year over year, with global components and enterprise computing solutions experiencing declines. The company generated $403 million in cash flow from operations and repurchased approximately $100 million of shares. The second-quarter outlook includes consolidated sales of $6.20 billion to $6.80 billion and net income per share on a diluted basis of $1.65 to $1.85.
Arrow Electronics, Inc. has been selected as the sole global provider of Broadcom's CloudHealth from VMware offering, aiming to simplify financial management and operations across multi-cloud environments. Arrow will provide sales, marketing, and technical support to enhance the user experience, ensuring partners and customers get the most value from their investment. CloudHealth will be available through the ArrowSphere Cloud marketplace starting May 6, without any planned service outage. Partners and customers using the offering can seamlessly transition to Arrow's platform.
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