Arrow Electronics Sees Q4, 2016 Results Below View

(RTTNews) - Arrow Electronics Inc. (ARW) said that it expects earnings per share for the fourth quarter to be in the range of $1.68 to $1.84, and earnings per share, excluding any charges, of $1.92 to $2.08 per share for the fourth quarter. Analysts polled by Thomson Reuters expect the company to report earnings of $2.09 per share for fourth-quarter. Analysts' estimates typically exclude special items.

The company projects total sales for the fourth-quarter will be between $6.3 billion and $6.7 billion, with global components sales between $3.7 billion and $3.9 billion, and global enterprise computing solutions sales between $2.6 billion and $2.8 billion the fourth quarter. Wall Street expect revenues of $6.84 billion for the fourth-quarter.

The company projects full-year 2016 earnings per share, excluding certain items, would total about $6.62 and grow 7 percent compared to full-year 2015. Full-year 2016 sales would total about $23.88 billion and would grow 3 percent compared to full-year 2015. Wall Street currently is looking for fiscal year 2016 earnings of $6.67 per share on annual revenues of $24.14 billion.