Arrow Electronics guides Q4 sales to $11.55B-$12.15B after a third-quarter beat
Interim chief executive Bill Austen points to a growing backlog and customer spending on AI, cloud and cybersecurity.
Arrow Electronics expects fourth-quarter sales and earnings to come in above what it has just reported, extending a third quarter that beat on both.
Third-quarter revenue was $10.72bn against $10.11bn expected. Earnings were $6.22 a share, $1.21 better than forecast. The outlook is management's own forecast, but a guide above a quarter that strong reads as a confident one.
Bill Austen, the interim chief executive, said record revenue and earnings per share reflected broad-based demand across Global Components, with a growing backlog. He said demand in Global ECS was robust as customers invest in AI, cloud and cybersecurity.
For the fourth quarter Arrow guides sales of $11.55bn to $12.15bn and non-GAAP earnings of $7.00 to $7.20 a share. On a GAAP basis it expects $6.25 to $6.45.
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