Arrow Electronics Guides Q3 Adj. EPS, Sales In Line With View - Quick Facts

(RTTNews) - Arrow Electronics, Inc. (ARW) on Thursday projected adjusted earnings for the third quarter in a range of $2.09 to $2.21 per share on total sales between $7.15 billion and $7.55 billion, with global components sales between $5.25 billion and $5.45 billion, and global enterprise computing solutions sales between $1.9 billion and $2.1 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.11 per share on sales of $7.33 billion for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, net income increased to $170 million or $1.92 per share from $100 million or $1.11 per share in the prior-year quarter. Adjusted earnings were $2.20 per share, compared to last year's $1.77 per share. Sales increased 15 percent to $7.39 billion from last year's $6.42 billion.

Analysts expected quarterly earnings of $2.15 per share on sales of $7.25 billion.