10-Q · May 7, 2026
Arrow Electronics reported a strong Q1 2026 with revenues of $9.47 billion, up 39% year-over-year, and EPS of $4.55, significantly exceeding expectations. Both segments—Global Components and Global ECS—showed robust…
Earnings analysis · 10-Q
ARW earnings analysis
Filed November 5, 2026 · Our reading of the company's report
The latest report
Arrow reported record third-quarter revenue of $10.718 billion and diluted EPS of $6.17, both materially above consensus. Growth was broad-based across Global Components and Global ECS, but operating cash flow was…
Read full summary
Arrow reported record third-quarter revenue of $10.718 billion and diluted EPS of $6.17, both materially above consensus. Growth was broad-based across Global Components and Global ECS, but operating cash flow was negative $441.409 million because of working-capital investment. Fourth-quarter outlook calls for $11.55-$12.15 billion of revenue and $6.25-$6.45 GAAP diluted EPS, although no prior outlook was provided for comparison.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $6.17
What stood out
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Record revenue beat consensus
Third-quarter revenue was a record $10.718 billion, exceeding the $9.9898 billion consensus estimate by approximately $728.0 million, or 7.3%.
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EPS materially exceeded estimates
Diluted EPS was $6.17 versus the $4.97 consensus estimate, a $1.20, or 24.1%, beat.
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Strong growth consumed cash
Operating cash flow was negative $441.409 million for the quarter, primarily because of investment in working capital.
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Continued share repurchases
The company repurchased 441,773 shares during the quarter, while $136.6 million of the $1.0 billion authorization had been utilized as of October 3, 2026.
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Large buyback authorization remains
The remaining repurchase authorization was $863.4 million as of October 3, 2026, providing substantial capital-allocation flexibility.
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Fourth-quarter outlook points higher
Management provided fourth-quarter revenue outlook of $11.55-$12.15 billion and GAAP diluted EPS outlook of $6.25-$6.45.
What to watch
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Working capital pressured cash flow
Operating cash flow was negative $441.409 million despite record revenue, indicating that working-capital investment remains a material cash-flow headwind.
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No updated risk disclosures
The filing states there were no material changes to the risk factors from the December 31, 2025 Form 10-K; therefore, 0 material risk-factor changes were identified in this 10-Q.
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Buybacks amid negative cash flow
The company repurchased 441,773 shares during the quarter while operating cash flow was negative $441.409 million, creating a potential tension between buybacks and liquidity during working-capital investment.
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Foreign-exchange risk remains
The company reported no material changes in foreign-exchange and interest-rate market risk during the nine months ended October 3, 2026, limiting evidence of reduced exposure despite ongoing currency sensitivity.
Management's outlook
Fourth-quarter 2026 GAAP diluted EPS outlook is $6.25-$6.45, non-GAAP diluted EPS outlook is $7.00-$7.20, and revenue outlook is $11.55-$12.15 billion. No prior outlook was provided, so the direction cannot be determined; these figures were disclosed in the concurrent earnings release rather than the extracted 10-Q text.
Earlier filings 4
10-K · February 11, 2026
Arrow Electronics reported a stronger top- and bottom-line 2025 versus 2024 with quarterly revenue accelerating to $8.75B in Q4 2025 and full-year revenue of about $30.85B (sum of quarters). The company remains…
10-Q · October 30, 2025
Arrow Electronics reported strong third-quarter results, with revenue and EPS exceeding analyst estimates. The company experienced modest revenue growth year-over-year but faces challenges in margins and cash flow…
10-Q · July 31, 2025
Arrow Electronics reported quarterly sales of $7,579,947 (thousands) and diluted EPS of $3.59 for the quarter ended June 28, 2025. Revenue rose versus Q2 2024, but operating income and gross margin compressed versus the…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.