Arrow Electronics, Inc. - ARW STOCK NEWS

Richardson RFPD, a subsidiary of Arrow Electronics (NYSE:ARW), has signed a franchise agreement with Murata Electronics Europe B.V., expanding its distribution capabilities in Europe, the Middle East, and Africa. This agreement designates Richardson RFPD as an authorized distributor for all Murata products in these regions. With this partnership, Richardson RFPD aims to enhance its product offerings significantly, particularly in sectors like RF, wireless, and IoT applications. The collaboration is expected to improve demand creation strategies, aligning well with market needs. As a leading distributor in RF, wireless, and power technologies, Richardson RFPD will leverage Murata's advanced electronic solutions to better serve its customers.

Arrow Electronics, Inc. (NYSE:ARW) will hold a conference call on May 4, 2023, at 1:00 PM ET to discuss its first-quarter 2023 financial results. Investors can register for the call here. The call will also be available via a live webcast. A replay of the webcast will be accessible shortly after the call at investor.arrow.com for one year.

In 2022, Arrow generated $37 billion in sales, supporting over 210,000 technology manufacturers and service providers with innovative solutions.

Arrow Electronics has once again sponsored the FIRST Robotics Colorado regional competition, marking its 11th consecutive year of support. The event, held from March 24-25, 2023, at the University of Denver, featured 43 high school teams and over 1,100 participants, emphasizing renewable energy through the theme "Charged Up." Winning teams included the 1339 Angelbotics, the 4499 Highlanders, and the 1799 Wired Up! The competition is designed to provide students with real-world engineering experiences and foster teamwork and business skills. Notably, team member Hailey Holman received the Dean's Finalist Award and is eligible for further recognition at the World Championship in Houston. Arrow Electronics, with 2022 sales of $37 billion, continues to guide innovation in technology solutions.

Arrow Electronics and Qualcomm Technologies have expanded their strategic partnership by establishing the Edge Labs Center of Excellence. This initiative aims to accelerate the development of IoT and Edge AI solutions, addressing challenges such as supply chain complexities and limited access to chipsets. The first product, Aikri 42x, based on Qualcomm's QRB4210 SoC, will be showcased at the Embedded World conference in Nuremberg, Germany, from March 14-16. The collaboration is set to improve design cycles and support the adoption of Edge AI technologies across various industries.

Arrow Electronics organized a charitable event in Denver, where executives built 150 bikes for second graders at federally aided schools. This initiative, in collaboration with Wish for Wheels, aims to support underserved communities. Since its inception in 2004, Wish for Wheels has donated bikes and helmets to over 75,000 children. Arrow's president emphasized the company's commitment to community engagement, highlighting the positive impact of such events on both employees and beneficiaries. With 2022 sales reaching $37 billion, Arrow continues to guide innovation in technology solutions.

Arrow Electronics reported fourth-quarter 2022 sales of $9.32 billion, marking a 3% year-over-year increase. Net income for the quarter was $349 million or $5.66 per share, down from $371 million or $5.26 per share in Q4 2021. Non-GAAP earnings were $5.69 per share. The company announced a $1 billion share repurchase authorization following a $300 million buyback in Q4. Full-year sales were $37.12 billion, up 8% year-over-year. For Q1 2023, Arrow expects sales of $8.33 billion to $8.93 billion and diluted net income of $4.24 to $4.44 per share. Currency fluctuations negatively impacted earnings and sales growth.