Arrow Q2 Sales Climb 10 Percent

Arrow Electronics has reported second-quarter 2022 sales of $9.46 billion, an increase of 10 percent from sales of $8.56 billion in the second quarter of 2021.

Second-quarter net income was $370 million compared with net income of $241 million in the second quarter of 2021.

“We’ve continued to build and deliver on our record performance for the past several quarters. While market conditions are challenging, they also provide ample opportunities to demonstrate Arrow’s commitment to the success of our customers and suppliers,” said Sean Kerins, president, and chief executive officer (pictured). “Thanks to the dedication and focused execution of our team, we delivered all-time record quarterly sales, gross profit, operating income, and earnings per share while in the face of ongoing supply and demand imbalance.”

Global components second-quarter sales of $7.46 billion reflected an increase of 13 percent year over year and non-GAAP sales increased 16 percent year over year.

Asia-Pacific components second-quarter sales edged forward 1 percent year over year.

Americas components second-quarter sales soared 26 percent year over year. Europe components second-quarter sales rose 21 percent year over year.

Global components second-quarter operating income was $524 million.

“Demand for electronic components and associated design, engineering and supply chain services remained strong. Past investments to enhance our capabilities, especially in the areas of engineering and supply chain capabilities, have led to advancements in profit performance. This is proof positive that we are uniquely positioned to help our customers navigate today’s challenges,” said Kerins.

Global enterprise computing solutions second-quarter sales of $2.00 billion reflected an increase of 2 percent year over year. Europe enterprise computing solutions second-quarter sales increased 7 percent year over year. Americas enterprise computing solutions second-quarter sales decreased 1 percent year over year. Global enterprise computing solutions second-quarter operating income was $84 million.

“Global demand for more complex, enterprise IT content was healthy, and while supply constraints represented a headwind to hardware sales, we saw strength in our software and cloud portfolios. We continue to see strength in cloud, software and enterprise solutions and are well positioned for the transition to IT-as-a-Service,” commented Kerins.

The post Arrow Q2 Sales Climb 10 Percent appeared first on Disti Blog.

source https://distributor.electronicspecifier.com/arrow-q2-sales-climb-10-percent/