On August 8, Arrow Electronics fell 9.93% in regular trading, trading near $200.00/share, with turnover of approximately $78.35 million. On the news front, the company reported Q2 adjusted EPS of $5.45, far exceeding the consensus estimate of $4.46, while revenue of $9.99 billion topped the $9.56 billion estimate and grew 31.8% year-over-year.
The company also issued Q3 guidance above Street expectations, projecting adjusted EPS of $4.83 to $5.03 on revenue of $9.60 billion to $10.20 billion, versus analyst estimates of $4.75 EPS and $9.79 billion in revenue. Actual Q2 results also exceeded the company's own prior guidance range of $9.15 billion to $9.75 billion in revenue and $4.32 to $4.52 in adjusted EPS.
Despite the comprehensive beat across all metrics, the stock exhibited a classic sell-the-news pattern. Separately, Truist Securities slightly trimmed its price target to $250 from $260 while maintaining a Buy rating. The average analyst rating stands at Hold with a mean price target of $233.25.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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