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.
Don’t miss any content from Distribution Strategy Group. Join our list.
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.”