Electronic components distributor Arrow Electronics Inc. (NYSE: ARW), Centennial, Colorado, had 2021 third-quarter sales of more than $8.5 billion, an 18% increase over the same period in 2020.
Third-quarter net income for Arrow was $290 million, or $4.00 per share on a diluted basis, compared with a net income of $166 million, or $2.13 per share on a diluted basis, in the third quarter of 2020.
“Arrow’s unwavering commitment to our customers’ success continues to foster expanding opportunities for our own business in the areas of supply chain as a service, designed and engineered value-enhancing solutions, and secure management of mission-critical software workloads,” said Michael J. Long, Arrow’s chairman, president, and CEO. “The value we deliver to customers and suppliers is inexorably linked to the value we capture for all of our stakeholders, which is enabling us to navigate through the near-term supply challenges. We expect component supply to remain well below demand in the coming quarters and through the better part of 2022.”
Third-quarter global sales of $6.62 billion were 25% ahead of sales figures from 2020, while U.S. sales increased 33%.
Arrow ranks No. 1 on MDM’s Top Distributors list for electronics, with $28.7 billion in 2020 revenue.