Arrow Elec misses by $0.06, reports revs in-line; guides Q4 EPS below consensus, revs below consensus
- Reports Q3 (Sep) earnings of $1.40 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $1.46; revenues rose 1.5% year/year to $5.7 bln vs the $5.75 bln Capital IQ Consensus.
- Co issues downside guidance for Q4, sees EPS of $1.75-1.91 vs. $2.02 Capital IQ Consensus Estimate; sees Q4 revs of $6.15-6.55 bln vs. $6.67 bln Capital IQ Consensus Estimate.
- "Both our global components and enterprise computing solutions businesses continued to experience strong demand in Europe, while our Americas businesses broadly performed as we had anticipated. In Asia, the economic deterioration was worse than we expected..."