Arrow Electronics Q4 sales up 3 per cent

2nd February 2023

Mick Elliott

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Arrow Electronics has reported fourth-quarter 2022 sales of $9.32 billion, an increase of 3 per cent year over year, and an increase of 8 per cent year over year.

Fourth-quarter 2022 net income was $349 million.

“I am pleased to report that this was another great quarter. Both our global components and global enterprise computing solutions businesses performed well in market conditions that remain challenging,” said Sean Kerins (pictured), Arrow's president and chief executive officer. “Our dedicated team helped us deliver strong quarterly sales, gross profit, operating income, and earnings per share.”

Global components fourth-quarter sales of $6.83 billion reflected an increase of 2 per cent year over year, and an increase of 6 per cent year over year on a constant currency basis. Americas components fourth-quarter sales increased 9 per cent year over year. Europe components fourth-quarter sales increased 23 per cent year over year. Asia-Pacific components fourth-quarter sales decreased 14 per cent year over year. Global components fourth-quarter operating income was $443 million .

“Demand for electronic components and associated design, engineering and supply chain services generally remained healthy in the Americas and Europe regions, but we experienced softer demand in Asia, particularly in China.” said Kerins.

Global enterprise computing solutions (“ECS”) fourth-quarter sales of $2.50 billion reflected an increase of 7 percent year over year.

“Hardware supply constraints are easing, and demand remained strong for most of our key technology categories. We continue to see strength in cloud, IT-as-a-Service and enterprise software adoption, and we were pleased with the results of the business,” Kerins commented.

For the full year 2022 sales of $37.12 billion increased 8 percent year over year. Net income for 2022 was $1.43 billion.

“In 2022, we delivered the best financial results in the history of the company. Throughout the year, we continued to make investments to support our customer needs, and we continued to grow and generate strong shareholder returns in the process,” said Kerins. “We continue to have confidence in the business and Arrow’s long-term growth potential.”