Arrow Electronics, Inc. (NYSE:ARW), Centennial, CO, distributor of electronic components and computer products, reported sales for its fiscal 2022 second quarter ended July 2, 2022, were $9.46 billion, up 10% from the prior year period.
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Net profit for the quarter was $370 million, up 54% from the prior-year period.
“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 CEO. “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.”
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.