Global electronics components and solutions distributor Arrow Electronics (NYSE:ARW) will be reporting results this Thursday afternoon. Here’s what to expect.
Arrow Electronics beat analysts’ revenue expectations last quarter, reporting revenues of $9.99 billion, up 31.8% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and EPS guidance for next quarter beating analysts’ expectations.
Is Arrow Electronics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Arrow Electronics’s revenue to grow 30.5% year on year, improving from the 13% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Arrow Electronics has a history of exceeding Wall Street’s expectations.
Looking at Arrow Electronics’s peers in the engineered components and systems segment, some have already reported their Q3 results, giving us a hint as to what we can expect. NN delivered year-on-year revenue growth of 26.2%, beating analysts’ expectations by 11%, and Enpro reported revenues up 22.4%, topping estimates by 5%. NN traded up 4.2% following the results.
Read our full analysis of NN’s results here and Enpro’s results here.
Investors in the engineered components and systems segment have had steady hands going into earnings, with share prices flat over the last month. Arrow Electronics is down 13.6% during the same time and is heading into earnings with an average analyst price target of $235 (compared to the current share price of $207.43).
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