Hot Stock Analysis: Arrow Electronics, Inc.’s (NYSE: ARW)

0
207
Arrow Electronics, Inc.,ARW

On 17 Jan 19, Arrow Electronics, Inc.’s (NYSE: ARW) shares recorded a trading volume 438,584 shares as compared to its average volume of 622,609 shares. The shares price traded between $72.76 and $74.66 during the last trading session above/below with +1.21% at $74.17.

Arrow Electronics, Inc. (ARW) recently stated third-quarter 2018 sales of $7.49B, an raise of 9 percent from sales of $6.86B in the third quarter of 2017. Third-quarter net income of $177M, or $1.99 per share on a diluted basis, contrast with net income of $134M, or $1.50 per share on a diluted basis, in the third quarter of 2017. Not Including certain items1, net income would have been $193M, or $2.18 per share on a diluted basis, in the third quarter of 2018, contrast with net income of $161M, or $1.80 per share on a diluted basis, in the third quarter of 2017. Not Including certain items1, net income raised 20 percent year over year, and earnings per share on a diluted basis raised 21 percent year over year.

“Our investments in engineering and working capital are bearing fruit as evidenced by our results,” stated Michael J. Long, chairman, president, and chief executive officer. “We are ahead of pace to deliver another record year in 2018.”

NINE-MONTH RESULTS

In the first nine months of 2018, Arrow’s sales of $21.76B raised 14 percent from sales of $19.02B in the first nine months of 2017. Net income for the first nine months of 2018 was $486M, or $5.47 per share on a diluted basis, contrast with net income of $349M, or $3.88 per share on a diluted basis in the first nine months of 2017. Not Including certain items1, net income would have been $556M, or $6.26 per share on a diluted basis, in the first nine months of 2018 contrast with net income of $452M, or $5.03 per share on a diluted basis, in the first nine months of 2017.

GUIDANCE

“As we look to the fourth quarter, we believe that total sales will be between $7.7B and $8.1B, with global components sales between $5.175B and $5.375B, and global enterprise computing solutions sales between $2.525B and $2.725B. As a result of this outlook, we expect earnings per share on a diluted basis to be in the range of $2.21 to $2.37, and earnings per share on a diluted basis, not including certain items1, to be in the range of $2.46 to $2.62 per share. Our guidance assumes an average tax rate of 23.5 percent to 25.5 percent, and average diluted shares outstanding are predictable to be about 88M. Guidance is based on an average USD-to-Euro exchange rate for the fourth quarter of about $1.16 to €1. At the midpoints of our fourth-quarter guidance ranges, full-year 2018 sales would total about $29.66B, and would grow 12 percent contrast to full-year 2017. Full-year 2018 earnings per share, on a diluted basis, not including certain items1, would total about $8.80 and would grow 17 percent contrast to full-year 2017,” stated Mr. Stansbury.

Please refer to the CFO commentary, which can be found at investor.arrow.com, as a supplement to the company’s earnings release.

Arrow Electronics guides innovation forward for over 150,000 of the world’s leading manufacturers of technology used in homes, business and daily life. With 2017 sales of $26.6B, Arrow aggregates electronics and enterprise computing solutions for consumers and suppliers in industrial and commercial markets. The company maintains a network of over 345 locations serving over 80 countries. Learn more at FiveYearsOut.com.

The corporation holds 87.60 million outstanding shares and its 86.42 million shares were floated in the market. (ARW) price volatility for a month noted as 3.00% however its price volatility for a week documented as 1.83%. The stock established a positive trend of 2.26% in last week and indicated rise of 6.12% in previous month.

LEAVE A REPLY

Please enter your comment!
Please enter your name here