Arrow Electronics (ARW) Q4 Earnings Top Estimates, Sales Decline Y/Y

Arrow Electronics (ARW) reported fourth-quarter 2023 adjusted earnings of $3.98 per share, which beat the Zacks Consensus Estimate by 7.57%. However, the bottom line declined 30% on a year-over-year basis (down 31% in cc) due to lower revenues and unfavorable foreign currency exchange rates.In the fourth quarter, ARW reported revenues of$ 7.84 billion, down 16% from the year-ago quarter's level (down 31% at cc). The top line beat the Zacks Consensus Estimate by 0.41% due to the adverse impact of foreign exc ...