Q2 2021 sales at Arrow Electronics climbed 30% to $8.56 billion, compared to sales of $6.61 billion in the second quarter of 2020.
Second-quarter net income was $241 million, compared with a net income of $133 million, in the second quarter of 2020.
“Arrow reported record results this quarter, reflecting our constant efforts to capture new growth opportunities and harvest the benefits as leaders of information and operational technology innovation,” said Michael J. Long (pictured), chairman, president, and chief executive officer. “We believe that financial performance is directly linked to the value we deliver to customers and suppliers, making our achievement of the highest sales, gross profit and earnings per share for any quarter in Arrow’s history a true testament to the hard work and commitment of our team. We look forward to driving further success for our customers, as well as all our company’s stakeholders as we continue to advance our strategic priorities.”
Global components second-quarter sales of $6.61 billion reflect an increase of 40 % year over year. Asia-Pacific components second-quarter sales rocketed 49 % year over year. Component sales in the Americas grew 32 % year over year. In Europe components second-quarter sales increased 33 % year over year
Global components second-quarter operating income was $327 million.
“Our commitment to helping customers bring innovative next-generation electronic products to market quickly is a key driver of our success,” continued Long. “Global components sales were above the high-end of our expectations for the fifth consecutive quarter resulting from our ability to secure additional inventory to meet strong demand.”
Global enterprise computing solutions second-quarter sales of $1.95 billion reflected an increase of 4 % year over year.
Added Long said, “We are seeing strong demand for complex software and cloud-based solutions, and our pipeline is healthy. Despite strong demand, second-quarter global enterprise computing solutions performance was in-line with our expectations as shifting spending priorities and some supply constraints stood in the way of capturing upside.”