While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tri ...

财务数据和关键指标变化 - 公司第二季度总收入为69亿美元,超出了指导范围的高端 [10] - 全球组件业务收入为50亿美元,环比下降3%,好于预期 [32] - 企业计算解决方案业务收入为19亿美元,同比增长2% [32] - 综合毛利率为12.3%,环比和同比下降约20个基点,主要受业务组合影响 [33] - 非GAAP营业利润为2.62亿美元,占销售额3.8% [36] - 全球组件业务非GAAP营业利润率为4.3%,企业计算解决方案业务为5.6% [36] - 非GAAP每股收益为2.78美元,大幅高于指导区间,受益于收益回收和费用减少 [38] 各条业务线数据和关键指标变化 - 全球组件业务: - 各区域市场呈现不同程度改善,亚洲和美洲有所好转,欧洲仍在下滑 [15][16][17] - 订单增加、库存和取消订单趋于正常,反映供应链库存水平下降和可见度提高 [18][19][20] - 毛利率受区域组合影响,但仍高于前期低点 [14] - 企业计算解决方案业务: - 收入和利润超出预期,云计算和AI相关解决方案以及服务器需求增加 [22][23][24][25] - 订单增加,多年期订阅和经常性收入占比提高 [25] 各个市场数据和关键指标变化 - 亚洲市场: - 半导体和IP&E产品线收入环比增长,工业和计算垂直市场有所改善 [15] - 中国市场收入环比增长,价格相对稳定 [15] - 美洲市场: - 整体略有下滑,但航空航天和国防保持健康,IP&E和设计赢单有所增长 [16] - 欧洲市场: - 工业和运输市场持续下滑,但通常在周期中最后进入调整 [17] 公司战略和发展方向及行业竞争 - 公司正在投资人工智能相关能力,包括供应链服务、嵌入式集成和机器人中心等 [29][30] - 公司相信这些投资将有助于未来增长,同时也在谨慎乐观地认为正在接近行业周期转折点 [27][28] 管理层对经营环境和未来前景的评论 - 管理层认为市场环境正在逐步改善,但仍有区域差异,预计第三季度表现将更为平稳 [21][26] - 管理层对公司未来发展前景保持乐观,认为公司已做好准备迎接下一个增长周期 [27][28] 其他重要信息 - 公司持续优化成本结构,第二季度非GAAP营业费用环比下降 [34][35] - 公司连续第四个季度减少净营运资本,存货下降1.2亿美元 [39][40][41][42] - 公司在过去12个月内产生超13亿美元的经营现金流 [42] - 公司第三季度指引: - 总收入预计63.7-69.7亿美元 - 全球组件业务收入预计47-51亿美元,环比下降约3% - 企业计算解决方案业务收入预计16.7-18.7亿美元,同比持平 [44][45] 问答环节重要的提问和回答 问题1 **Melissa Fairbanks 提问** 询问公司是否预计下半年收入将高于上半年 [47] **Sean Kerins 回答** 公司预计下半年表现将好于上半年,一方面组件业务持续改善,另一方面企业计算解决方案业务将受益于季节性因素 [48] 问题2 **William Stein 提问** 询问中国市场的恢复情况是否与供应商一致,以及公司对第三季度指引较预期偏谨慎的原因 [62][66] **Sean Kerins 回答** 中国市场恢复并非V型,而是更接近L型,公司对第三季度指引并未特别谨慎,而是根据当前市场环境做出的合理预测 [63][67] 问题3 **Joe Quatrochi 提问** 询问公司未来如何管理存货结构和水平 [71][73] **Sean Kerins 回答** 公司正在谨慎管理存货,并将根据市场需求适当增加一些关键产品的库存,以支持未来增长 [74][75][76]

Arrow Electronics Earnings Presentation Second Quarter 2024 August 1, 2024 Safe harbor This presentation includes "forward-looking" statements, as the term is defined under the federal securities laws, including but not limited to statements regarding: Arrow's future financial performance, including its outlook on financial results for the third quarter of fiscal 2024 such as sales, net income per diluted share, non-GAAP net income per diluted share, average tax rate, interest and other expense, impact to s ...

For the quarter ended June 2024, Arrow Electronics (ARW) reported revenue of $6.89 billion, down 19.1% over the same period last year. EPS came in at $2.78, compared to $4.37 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $6.51 billion, representing a surprise of +5.91%. The company delivered an EPS surprise of +28.70%, with the consensus EPS estimate being $2.16.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall St ...

财务业绩 - 公司第二季度销售额为69.3亿美元，超出预期[2] - 第二季度每股摊薄收益为2.01美元，非GAAP每股摊薄收益为2.78美元[6] - 公司预计第三季度销售额为63.7亿美元至69.7亿美元之间[17] - 公司预计第三季度每股摊薄收益为1.70美元至1.90美元之间，非GAAP每股摊薄收益为2.10美元至2.30美元之间[18] - 2024年第二季度收入为68.93亿美元，同比下降19.0%[55] - 2024年上半年合并净收入为1.93亿美元[53] - 2024年第二季度合并净收入为1.10亿美元[51] 业务表现 - 全球元器件业务销售额同比下降25%[9,10] - 企业计算机解决方案业务销售额同比增长2%[13,14] - 全球电子元器件销售额为50.32亿美元，同比下降24.7%[56] - 美洲地区电子元器件销售额为15.73亿美元，同比下降23.9%[57] - 亚洲地区电子元器件销售额为20.20亿美元，同比下降18.0%[58] - 欧洲、中东和非洲地区电子元器件销售额为14.39亿美元，同比下降33.2%[59] - 全球ECS销售额为18.61亿美元，同比增长1.6%[60] - 美洲ECS销售额为9.64亿美元，同比下降3.6%[61] - 欧洲、中东和非洲(EMEA)ECS销售额为8.97亿美元，同比增长7.9%[62] - 全球组件销售额为102.23亿美元，同比下降24.5%[65] - 美洲组件销售额为31.70亿美元，同比下降26.3%[66] - 亚洲组件销售额为39.58亿美元，同比下降18.2%[67] - 欧洲、中东和非洲(EMEA)组件销售额为30.96亿美元，同比下降29.6%[68] - 全球ECS销售额为35.94亿美元，同比下降3.2%[69] - 美洲ECS销售额为18.72亿美元，同比下降6.3%[70] 现金流和库存 - 公司在第二季度减少了约1.4亿美元的库存[15] - 2024年上半年经营活动产生的现金流为7.23亿美元[53] - 2024年第二季度经营活动产生的现金流为3.20亿美元[51] - 2024年6月29日现金及现金等价物余额为2.13亿美元[41] 其他 - 公司提供了非GAAP财务指标以补充GAAP财务数据[32] - 全球组件业务营业收入包括与业务退出相关的存货减值费用,第二季度为160万美元,前六个月为1210万美元[1] - 全球ECS业务营业收入包括因收回部分长期应收账款而冲回的信用损失准备20.0百万美元[2] - 公司营业亏损包括重组、整合和其他费用,第二季度为4050万美元,前六个月为8740万美元[3] - 全球组件业务非GAAP营业收入为2.18亿美元,较上年同期增长[4] - 全球ECS业务非GAAP营业收入为1.04亿美元,较上年同期增长[4] - 公司预计第三季度汇率变动将使销售额增加约700万美元，对每股收益无影响[19] - 公司预计第三季度汇率变动将使季度环比销售额增加3000万美元，每股收益增加0.02美元[20]

Arrow Electronics (ARW) has announced a groundbreaking data-communication reference design for electric vehicle (EV) charging, potentially revolutionizing the EV supply equipment (EVSE) market. This development comes at a crucial time as the automotive industry continues its rapid shift toward electrification. The new reference design combines advanced software stacks for cutting-edge protocols with a HomePlug Green PHY hardware module. This integration is set to significantly reduce time-to-market for EVSE ...

Arrow Electronics (ARW) has unveiled an innovative AI-powered steering system that promises to redefine the future of vehicle control in a groundbreaking development for mobility technology. This cutting-edge system, designed for ARW's Semi-Autonomous Mobility Car, utilizes facial recognition technology and is built around an advanced NVIDIA processor. The new steering mechanism was tested by quadriplegic racecar driver Sam Schmidt, who successfully maneuvered the vehicle at competitive speeds using only he ...

Arrow Electronics (ARW) is a Zacks Rank #5 (Strong Sell) as earnings estimates have tracked lower after a recent earnings beat. The company makes electronic components for a wide range of industries. This article will look at why this stock is a Zacks Rank #5 (Strong Sell) as it is the Bear of the Day. Description Arrow Electronics, Inc. engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates un ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Custom Truck One Source (CTOS) is a provider of specialized truck and heavy equipment solutions to the utility, telecommunications, rail and infrastructure markets principally in North America. The Zacks Consensus Estimate for its current year earnings has been revised 44.4% downward over the last 60 days. Arrow Electronics (ARW) is one of the world’s largest distributors of electronic components and enterprise computing products. Th ...

Generally speaking, in the market and in life, there’s safety in numbers. And in many (maybe most) cases, it’s better to go with the crowd. However, there are also times when it makes sense to zig while others zag, which segues into contrarian stocks. Frankly, these ideas are unloved by the experts. Because of that, it’s difficult to properly assess their true value. With analyst sell ratings come downgraded financial projections. So, on paper, it looks like you’re buying into value traps. I’m not going to ...