Global electronics components and solutions distributor Arrow Electronics (NYSE: ARW) will be reporting earnings this Thursday afternoon. Here’s what investors should know.
Arrow Electronics beat analysts’ revenue expectations last quarter, reporting revenues of $9.47 billion, up 39% year on year. It was an incredible quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is Arrow Electronics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Arrow Electronics’s revenue to grow 25.9% year on year, improving from the 10% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Arrow Electronics has a history of exceeding Wall Street’s expectations.
Looking at Arrow Electronics’s peers in the engineered components and systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Enpro delivered year-on-year revenue growth of 17.6%, beating analysts’ expectations by 4.7%, and Mayville Engineering reported revenues up 23.2%, topping estimates by 7.9%.
Read our full analysis of Enpro’s results here and Mayville Engineering’s results here.
Investors in the engineered components and systems segment have had steady hands going into earnings, with share prices flat over the last month. Arrow Electronics is up 15.1% during the same time and is heading into earnings with an average analyst price target of $222 (compared to the current share price of $227.73).
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