Arrow Electronics’ First Quarter Sales Up 31%

Arrow Electronics’ 1Q profit totaled $206.32 million compared to $49.50 million in the same quarter a year ago.
Arrow Electronics

On Thursday, electronic components distributor Arrow Electronics Inc. (NYSE: ARW), which is headquartered in Centennial, Colorado, reported revenue for the first quarter rose by 31.3% to $8.38 billion from $6.38 billion the year prior.

Arrow Electronics’ profit totaled $206.32 million, or $2.72 per share compared to $49.50 million, or $0.61 per share, in the same quarter a year ago. The company said its 1Q sales were a new record. The company reported fourth-quarter sales of $8.5 billion, up 15.2% compared with the fourth quarter of 2019.

“Arrow’s commitment to guiding innovation forward on behalf of our customers and suppliers enabled us to deliver record results in the quarter. I am incredibly impressed with our team’s execution as we continued to help customers across key industries thrive and benefit by delivering the products, services and solutions they need,” said Michael J. Long, chairman, president, and chief executive officer. “Our continually evolving business model has adapted well to significant swings in demand and shifts in business priorities over the last year, and we look forward to further building on this strong momentum in the months ahead.”

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.