Arrow Electronics Inc. (NYSE: ARW) reported first-quarter 2022 sales of $9.07 billion, up 8% from sales of $8.39 billion in the prior-year period. Net income also grew from $206 million in the first quarter of 2021 to $365 million.
“At Arrow, we continue to enhance the solutions and services we provide as the markets we serve change at an increasingly rapid pace. Our record results this quarter demonstrate that we remain ahead of the curve, supported by the best team in the industry. We expect component supply to remain well below demand in the coming quarters and through the better part of 2022,” Arrow President and CEO Michael J. Long said.
Global components first-quarter sales of $7.20 billion reflected an increase of 12% year over year. Americas components first-quarter sales increased 38% year over year.