The 2020 Mid-Year Economic Update_long

Arrow Electronics Sales Up 2.7% in 2Q

Year-to-date sales up 0.7 percent year-over-year.

Arrow Electronics Inc. (NYSE: ARW), Englewood, CO, reported sales for the second quarter of $5.8 billion, an increase of 2.7 percent year-over-year. Profit decreased 3.1 percent to $123.9 million.

Global components second-quarter sales increased 4 percent year-over-year to $3.7 billion, while global enterprise computing solutions sales increased 2 percent to $2.1 billion.

"Excluding the impacts from changes in foreign currencies, EPS advanced nearly 16 percent year over year, with both our global components and enterprise computing solutions segments delivering sales growth and expanded operating margins," said Michael Long, president and CEO. "Both businesses continued to experience strong demand in Europe.”

Year-to-date sales were $10.8 billion, an increase of 0.7 percent over the prior-year period. Profit decreased 2.1 percent to $230 million.

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