# EDGAR Filing Document

**Accession Number:** 0000007536
**File Stem:** 0001859644-25-000011
**Filing Date:** 2025-7
**Character Count:** 49136
**Document Hash:** 01f741aa9a44ffe24119afb219677a28
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001859644-25-000011.hdr.sgml**: 20250731

**ACCESSION NUMBER**: 0001859644-25-000011

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250731

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250731

**DATE AS OF CHANGE**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARROW ELECTRONICS, INC.
- **CENTRAL INDEX KEY:** 0000007536
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 111806155
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-04482
- **FILM NUMBER:** 251169762

**BUSINESS ADDRESS:**
- **STREET 1:** 9151 EAST PANORAMA CIRCLE
- **CITY:** CENTENNIAL
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** 303-824-4000

**MAIL ADDRESS:**
- **STREET 1:** 9151 EAST PANORAMA CIRCLE
- **CITY:** CENTENNIAL
- **STATE:** CO
- **ZIP:** 80112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARROW ELECTRONICS, INC
- **DATE OF NAME CHANGE:** 20221117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARROW ELECTRONICS INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? ARROW ELECTRONICS, INC._July 31, 2025

------

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 31, 2025

ARROW ELECTRONICS, INC.

(Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| New York<br>| 1-4482<br>| 11-1806155<br>|
| (State or Other Jurisdiction<br>| (Commission<br>| (IRS Employer<br>|
| of Incorporation)<br>| File Number)<br>| Identification No.)<br>|

---

<u>9151 East Panorama Circle,</u> <u>Centennial,</u> <u>CO</u> <u>80112</u> <br> (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (303) 824-4000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class<br>| Trading Symbol(s)<br>| Name of the exchange on which registered<br>|
| Common Stock, $1 par value<br>| ARW<br>| New York Stock Exchange<br>|

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company&nbsp;&nbsp;&nbsp;&nbsp; ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

#### ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On July 31, 2025, Arrow Electronics, Inc. (the "Company") issued a press release announcing its second quarter 2025 earnings. A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K.

The information in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K is being furnished and shall not be deemed "filed" for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing.

#### ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EXHIBITS

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Exhibit Number** | &nbsp;&nbsp;**Description** |
| &nbsp;&nbsp;[99.1](arw-20250731xex99d1.htm) | &nbsp;&nbsp;[Earnings press release issued by Arrow Electronics, Inc., dated July 31, 2025.](arw-20250731xex99d1.htm) |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  | ARROW ELECTRONICS, INC. | ARROW ELECTRONICS, INC. |
| Date: | July 31, 2025 | By: | /s/ Carine Jean-Claude |
|  |  | Name: | Carine Jean-Claude |
|  |  | Title: | Senior Vice President, Chief Legal and Compliance Officer, and Secretary |

---

## Exhibit 99.1

---

| | |
|:---|:---|
| **ARROW ELECTRONICS, INC.**<br>9151 EAST PANORAMA CIRCLE <br>CENTENNIAL, CO 80112<br>303-824-4000<br>| **NEWS**<br>|

---

**Exhibit 99.1**

**Arrow Electronics Reports Second-Quarter 2025 Results**

**--Consolidated, Global Components, and ECS Segment Sales Above High End of Guidance--**

**--Second-Quarter Earnings Per Share of $3.59 and Non-GAAP Earnings Per Share of $2.43, Both Above High End of Guidance--**

CENTENNIAL, Colo.--(BUSINESS WIRE)- July 31, 2025--Arrow Electronics, Inc. (NYSE:ARW) today announced financial results for its second quarter of 2025.

"I am pleased to report we delivered both consolidated and segment revenues, as well as earnings per share, that exceeded our guidance ranges," said Sean Kerins, Arrow's president and chief executive officer.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Arrow Consolidated | Arrow Consolidated | Arrow Consolidated | Arrow Consolidated | Arrow Consolidated | Arrow Consolidated | Arrow Consolidated |
|  | Quarter Ended | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended | Six Months Ended |
|  | June 28, | June 29, |  | June 28, | June 29, |  |
| **(in millions except per share data)** | 2025 | 2024 | Change | 2025 | 2024 | Change |
| Consolidated sales | $7580 | $6893 | 10% | $14394 | $13817 | 4% |
| Net income attributable to shareholders | 188 | 109 | 73% | 267 | 192 | 39% |
| Net income per diluted share | 3.59 | 2.01 | 79% | 5.09 | 3.53 | 44% |
| Non-GAAP net income attributable to shareholders <sup>(1)</sup> | 127 | 150 | (15)% | 222 | 282 | (21)% |
| Non-GAAP net income per diluted share <sup>(1)</sup> | 2.43 | 2.78 | (13)% | 4.23 | 5.18 | (18)% |

---

In the second quarter of 2025, sales exceeded the high end of guidance range, increased 10 percent year over year, and increased 8 percent year over year on a constant currency basis. Changes in foreign currencies had a positive impact on growth of approximately $123.3 million on sales and $0.07 on earnings per share on a diluted basis compared to the second quarter of 2024.

**Global Components**

"In our global components business, while momentum in Asia was especially strong, we enjoyed sequential growth in all three operating regions," said Mr. Kerins. "In addition, our leading indicators continue to suggest that a modest cyclical recovery is in flight."

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Global Components | Global Components | Global Components | Global Components | Global Components | Global Components | Global Components |
|  | Quarter Ended | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended | Six Months Ended |
|  | June 28, | June 29, |  | June 28, | June 29, |  |
| **(in millions)** | 2025 | 2024 | Change | 2025 | 2024 | Change |
| Global components sales | $5285 | $5032 | 5% | $10063 | $10223 | (2)% |
| Global components operating income | 187 | 210 | (11)% | 358 | 436 | (18)% |
| Global components non-GAAP operating income <sup>(1)</sup> | 189 | 218 | (13)% | 362 | 461 | (21)% |

---

In the second quarter of 2025, global components sales exceeded the high end of guidance range, increased 5 percent year over year, and increased 3 percent year over year on a constant currency basis. Americas components second-quarter sales increased 9 percent year over year. EMEA components second-quarter sales decreased 1 percent year over year and decreased 6 percent year over year on a constant currency basis. Asia-Pacific components second-quarter sales increased 6 percent year over year.

![Graphic](arw-20250731xex99d1001.jpg)<sub>1</sub>

------

---

| | |
|:---|:---|
| **ARROW ELECTRONICS, INC.**<br>9151 EAST PANORAMA CIRCLE <br>CENTENNIAL, CO 80112<br>303-824-4000<br>| **NEWS**<br>|

---

**Global Enterprise Computing Solutions** 

"In our global ECS business, we delivered year-over-year growth in billings and gross profit. Additionally we saw robust growth in our IT as-a-service backlog, alongside continued adoption of our digital platform, Arrowsphere. Our strategy to concentrate on the higher growth demand trends throughout enterprise IT is gaining momentum," said Mr. Kerins.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Global Enterprise Computing Solutions (ECS) | Global Enterprise Computing Solutions (ECS) | Global Enterprise Computing Solutions (ECS) | Global Enterprise Computing Solutions (ECS) | Global Enterprise Computing Solutions (ECS) | Global Enterprise Computing Solutions (ECS) | Global Enterprise Computing Solutions (ECS) |
|  | Quarter Ended | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended | Six Months Ended |
|  | June 28, | June 29, |  | June 28, | June 29, |  |
| **(in millions)** | 2025 | 2024 | Change | 2025 | 2024 | Change |
| Global ECS sales | $2295 | $1861 | 23% | $4331 | $3594 | 21% |
| Global ECS operating income | 97 | 103 | (5)% | 174 | 174 | flat |
| Global ECS non-GAAP operating income <sup>(1)</sup> | 98 | 104 | (6)% | 176 | 176 | flat |

---

In the second quarter of 2025, global ECS sales exceeded the high end of guidance range and increased 23 percent year over year, and increased 20 percent year over year on a constant currency basis. Global ECS billings increased 15 percent year over year. EMEA ECS second-quarter sales increased 39 percent year over year and increased 31 percent year over year on a constant currency basis. Americas ECS second-quarter sales increased 9 percent year over year.

**Other Financial Information**

"In the second quarter, we increased our inventory turns, reduced our cash conversion cycle and improved our returns on capital," said Raj Agrawal, Arrow's senior vice president and chief financial officer. "We were also able to repurchase another $50 million of shares."

<sup>1</sup> *A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in the reconciliation tables included herein.*

![Graphic](arw-20250731xex99d1001.jpg)<sub>2</sub>

------

**Third-Quarter 2025 Outlook**

&nbsp;&nbsp;&nbsp;&nbsp;● C onsolidated sales of $7.30 billion to $7.90 billion, with global components sales of $5.30 billion to $5.70 billion, and global enterprise computing solutions sales of $2.00 billion to $2.20 billion

&nbsp;&nbsp;&nbsp;&nbsp;● Net income per share on a diluted basis of $1.49 to $1.69, and non-GAAP net income per share on a diluted basis of $2.16 to $2.36

&nbsp;&nbsp;&nbsp;&nbsp;● Average tax rate in the range of 23 percent to 25 percent

&nbsp;&nbsp;&nbsp;&nbsp;● Interest expense of approximately $65 million

&nbsp;&nbsp;&nbsp;&nbsp;● Changes in foreign currencies to increase sales by approximately $135 million, and earnings per share on a diluted basis by $0.11 compared to the third quarter of 2024

&nbsp;&nbsp;&nbsp;&nbsp;● Changes in foreign currencies to increase quarter-over-quarter growth in sales by $89 million, and earnings per share on a diluted basis by $0.05 compared to the second quarter of 2025

&nbsp;&nbsp;&nbsp;&nbsp;● Global components second-quarter sales included a 1% incremental billing impact from tariffs. The company has assumed a similar amount in its third-quarter outlook.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation | Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation | Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation | Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation | Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation | Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation | Third-Quarter 2025 GAAP to non-GAAP Outlook Reconciliation |
| NON-GAAP SALES RECONCILIATION | NON-GAAP SALES RECONCILIATION | NON-GAAP SALES RECONCILIATION | NON-GAAP SALES RECONCILIATION | NON-GAAP SALES RECONCILIATION | NON-GAAP SALES RECONCILIATION | NON-GAAP SALES RECONCILIATION |
|  | Quarter Ended | Quarter Ended |  | Quarter Ended | Quarter Ended |  |
|  | September 27, | September 28, |  | September 27, | June 28, |  |
| **(in billions)** | 2025 | 2024 | % Change | 2025 | 2025 | % Change |
| Global components sales, GAAP | $5.30 - 5.70 | $4.95 | 7% - 15% | $5.30 - 5.70 | $5.28 | 0% - 8% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 0.08 |  |  | 0.05 |  |
| Global components sales, constant currency | $5.30 - 5.70 | $5.03 | 5% - 13% | $5.30 - 5.70 | $5.33 | (1%) - 7% |
| Global ECS sales, GAAP | $2.00 - 2.20 | $1.88 | 6% - 17% | $2.00 - 2.20 | $2.30 | (13%) - (4%) |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 0.05 |  |  | 0.04 |  |
| Global ECS sales, constant currency | $2.00 - 2.20 | $1.93 | 4% - 14% | $2.00 - 2.20 | $2.34 | (15%) - (6%) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| NON-GAAP EARNINGS RECONCILIATION | NON-GAAP EARNINGS RECONCILIATION | NON-GAAP EARNINGS RECONCILIATION | NON-GAAP EARNINGS RECONCILIATION | NON-GAAP EARNINGS RECONCILIATION |
|  | Reported | Intangible amortization | Restructuring & |  |
|  | GAAP measure | expense | integration charges | Non-GAAP measure |
| Net income per diluted share | $1.49 to $1.69 | $0.07 | $0.60 | $2.16 to $2.36 |

---

**Earnings Presentation**

Please refer to the earnings presentation, which can be found at investor.arrow.com, as a supplement to the company's earnings release. The company may use this website as a means of disclosing material, non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the website noted above, in addition to following the company's press releases, SEC filings, and public conference calls and webcasts.

**Webcast and Conference Call Information**

Arrow Electronics will host a conference call to discuss second-quarter 2025 financial results on July 31, 2025, at 1:00 p.m. ET.

A live webcast of the conference call will be available via the events section of investor.arrow.com or by accessing the webcast link directly at https://events.q4inc.com/attendee/323584746. Shortly after the conclusion of the conference call, a webcast replay will be available on the Arrow website for one year.

![Graphic](arw-20250731xex99d1001.jpg)<sub>3</sub>

------

**About Arrow Electronics**

Arrow Electronics (NYSE:ARW) sources and engineers technology solutions for thousands of leading manufacturers and service providers. With global 2024 sales of $28 billion, Arrow's portfolio enables technology across major industries and markets. Learn more at arrow.com.

**Key Business Metrics**

Management uses gross billings as an operational metric to monitor operating performance of its global ECS reportable segment, including sales performance by geographic region, as it provides meaningful supplemental information to the reader in evaluating the overall performance of the global ECS business. The company uses this key metric to develop financial forecasts, make strategic decisions, and prepare and approve annual budgets. Gross billings represent amounts invoiced to customers for goods and services during a specified period and do not include the impact of recording sales on a net basis or sales adjustments, such as trade discounts and other allowances. The use of gross billings has certain limitations as an analytical tool and should not be considered in isolation or as a substitute for revenue.

**Information Relating to Forward-Looking Statements**

This press release includes "forward-looking" statements, as the term is defined under the federal securities laws. Forward-looking statements are those statements which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as "expects," "anticipates," "intends," "plans," "may," "will," "would," "could," "believes," "seeks," "projected," "potential," "estimates," and similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements regarding: Arrow's future financial performance, including its outlook on financial results for the second quarter of fiscal 2025 such as sales, net income per diluted share, non-GAAP net income per diluted share, average tax rate, interest and other expense, impact to sales due to changes in foreign currencies, the timing of the completion of the company's restructuring initiatives (the "Operating Expense Efficiency Plan") and Arrow's estimated costs and expected operating expense reductions associated therewith, industry trends and expectations regarding market demand and conditions, and shareholder returns. These and other forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which could cause actual results or facts to differ materially from such statements for a variety of reasons, including, but not limited to: unfavorable economic conditions; disruptions, shortages, or inefficiencies in the supply chain; trade protection measures, tariffs, increased trade tensions, trade agreements and policies, and other restrictions, duties, and value-added taxes, and the associated macroeconomic impacts; the incurrence of additional charges not currently contemplated and failure to realize contemplated cost savings due to unanticipated events that may occur in connection with the implementation of the Operating Expense Efficiency Plan; political instability and changes; impacts of military conflict and sanctions; industry conditions; changes in product supply, pricing and customer demand; competition; other vagaries in the global components and the global ECS markets; deteriorating economic conditions, including economic recession, inflation, tax rates, foreign currency exchange rates, or the availability of capital; the effects of natural or man-made catastrophic events; changes in relationships with key suppliers; increased profit margin pressure; changes in legal and regulatory matters; non-compliance with certain regulations, such as trade, export, antitrust, and anti-corruption laws; foreign tax and other loss contingencies; breaches of security or privacy of business information and information system failures, including related to current or future implementations, integrations and upgrades; outbreaks, epidemics, pandemics, or public health crises; executive orders and regulatory trends and the resulting legal and reputational exposure, including but not limited to those relating to environmental, social, governance, cybersecurity, data privacy, and artificial intelligence issues; and the company's ability to generate positive cash flow. For a further discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the company's most recent Quarterly Report on Form 10-Q and the company's most recent Annual Report on Form 10-K, as well as in other filings the company makes with the Securities and Exchange Commission. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.

**Certain Non-GAAP Financial Information**

In addition to disclosing financial results that are determined in accordance with accounting principles generally accepted in the United States ("GAAP"), the company also provides certain non-GAAP financial information. The company provides the following non-GAAP metrics: sales, operating income (including by business segment), income before income taxes, provision for income taxes, consolidated net income, noncontrolling interest, net income attributable to shareholders, effective tax rate, and net income per share on a diluted basis. The foregoing non-GAAP measures are adjusted by certain of the following, as applicable: impact of changes in foreign currencies (referred to as "changes in foreign currencies" or "on a constant currency basis") by re-translating prior-period results at current period foreign exchange rates; identifiable intangible asset amortization, restructuring, integration, and other; net gains on investments; and inventory write downs (recoveries) related to the wind down of a businesses within the global components reportable segment ("impact of wind down"). Management believes that providing this additional information is useful to the reader to better assess and understand

![Graphic](arw-20250731xex99d1001.jpg)<sub>4</sub>

------

the company's operating performance and future prospects in the same manner as management, especially when comparing results with previous periods. Management typically monitors the business as adjusted for these items, in addition to GAAP results, to understand and compare operating results across accounting periods, for internal budgeting purposes, for short- and long-term operating plans, and to evaluate the company's financial performance. However, analysis of results on a non-GAAP basis should be used as a complement to, in conjunction with, and not as a substitute for, data presented in accordance with GAAP.

---

| | |
|:---|:---|
| **Contacts** |  |
| Investors: | Rick Seidlitz, |
|  | Vice President, Investor Relations |
|  | 303-305-4936 |
| Media: | John Hourigan, |
|  | Vice President, Public Affairs and Corporate Marketing |
|  | 303-824-4586 |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>5</sub>

------

ARROW ELECTRONICS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except per share data)

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended |
|  | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 |
| Sales | $7579947 | $6892868 | $14393964 | $13817128 |
| Cost of sales | 6731290 | 6046424 | 12771315 | 12112858 |
| Gross profit | 848657 | 846444 | 1622649 | 1704270 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;Selling, general, and administrative | 600990 | 552595 | 1163306 | 1135921 |
| &nbsp;&nbsp;Depreciation and amortization | 35162 | 41037 | 70972 | 82764 |
| &nbsp;&nbsp;Restructuring, integration, and other | 21919 | 40537 | 39232 | 87393 |
|  | 658071 | 634169 | 1273510 | 1306078 |
| Operating income | 190586 | 212275 | 349139 | 398192 |
| Equity in (losses) earnings of affiliated companies | (659) | 1254 | 661 | 910 |
| Gain (loss) on investments, net | 103976 | (4615) | 104116 | (4517) |
| Loss on extinguishment of debt |  | (1657) |  | (1657) |
| Post-retirement expense | (664) | (980) | (1286) | (1913) |
| Interest and other financing expense, net | (60283) | (66891) | (116465) | (146495) |
| Income before income taxes | 232956 | 139386 | 336165 | 244520 |
| Provision for income taxes | 45934 | 29762 | 69279 | 51798 |
| Consolidated net income | 187022 | 109624 | 266886 | 192722 |
| Noncontrolling interests | (727) | 926 | (583) | 423 |
| Net income attributable to shareholders | $187749 | $108698 | $267469 | $192299 |
| Net income per share: |  |  |  |  |
| &nbsp;&nbsp;Basic | $3.62 | $2.03 | $5.14 | $3.56 |
| &nbsp;&nbsp;Diluted | $3.59 | $2.01 | $5.09 | $3.53 |
| Weighted-average shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;Basic | 51856 | 53640 | 52057 | 53944 |
| &nbsp;&nbsp;Diluted | 52342 | 54181 | 52504 | 54496 |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>6</sub>

------

ARROW ELECTRONICS, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands except par value)

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | June 28, 2025 | December 31, 2024 |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $221970 | $188807 |
| &nbsp;&nbsp;Accounts receivable, net | 15271349 | 13030991 |
| &nbsp;&nbsp;Inventories | 4749431 | 4709706 |
| &nbsp;&nbsp;Other current assets | 603670 | 471909 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 20846420 | 18401413 |
| Property, plant, and equipment, at cost: |  |  |
| &nbsp;&nbsp;Land | 5691 | 5691 |
| &nbsp;&nbsp;Buildings and improvements | 196556 | 194061 |
| &nbsp;&nbsp;Machinery and equipment | 1691823 | 1623228 |
|  | 1894070 | 1822980 |
| &nbsp;&nbsp;Less: Accumulated depreciation and amortization | (1419472) | (1353720) |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant, and equipment, net | 474598 | 469260 |
| Investments in affiliated companies | 57766 | 57299 |
| Intangible assets, net | 86552 | 96706 |
| Goodwill | 2123994 | 2055295 |
| Other assets | 663248 | 677734 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $24252578 | $21757707 |
| **LIABILITIES AND EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;Accounts payable | $13213323 | $11047470 |
| &nbsp;&nbsp;Accrued expenses | 1309323 | 1238714 |
| &nbsp;&nbsp;Short-term borrowings, including current portion of long-term debt | 455612 | 349978 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 14978258 | 12636162 |
| Long-term debt | 2365812 | 2773783 |
| Other liabilities | 499434 | 516234 |
| Equity: |  |  |
| &nbsp;&nbsp;Shareholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $1: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized - 160,000 shares in both 2025 and 2024 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued - 55,815 and 55,592 shares in 2025 and 2024, respectively | 55815 | 55592 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital in excess of par value | 589480 | 562080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock (4,314 and 3,420 shares in 2025 and 2024, respectively), at cost | (432447) | (328078) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 6248295 | 5980826 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (127253) | (509269) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 6333890 | 5761151 |
| &nbsp;&nbsp;Noncontrolling interests | 75184 | 70377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total equity | 6409074 | 5831528 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $24252578 | $21757707 |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>7</sub>

------

ARROW ELECTRONICS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Quarter Ended | Quarter Ended |
|  | June 28, 2025 | June 29, 2024 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consolidated net income | $187022 | $109624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile consolidated net income to net cash provided by operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 35162 | 41037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of stock-based compensation | 11641 | 8253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in losses (earnings) of affiliated companies | 659 | (1254) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 11092 | (4597) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  | 1657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on investments, net | (103863) | 4639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 376 | 3786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in assets and liabilities, net of effects of acquired businesses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (2627707) | 155886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 108833 | 130661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 2200976 | (160026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | (2027) | 251990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets and liabilities | (28060) | (221475) |
| Net cash (used for) provided by operating activities | (205896) | 320181 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Acquisition of property, plant, and equipment | (18618) | (22101) |
| &nbsp;&nbsp;Proceeds from settlement of net investment hedges | 24858 |  |
| &nbsp;&nbsp;Proceeds from sale of investments in equity securities | 100000 |  |
| &nbsp;&nbsp;Other |  | 1313 |
| Net cash provided by (used for) investing activities | 106240 | (20788) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Change in short-term and other borrowings | 274187 | (434845) |
| &nbsp;&nbsp;(Repayments of) proceeds from long-term bank borrowings, net | 50566 | 196575 |
| &nbsp;&nbsp;Redemption of notes | (350000) | (500000) |
| &nbsp;&nbsp;Net proceeds from note offering |  | 494678 |
| &nbsp;&nbsp;Proceeds from exercise of stock options | 2299 | 1839 |
| &nbsp;&nbsp;Repurchases of common stock | (50736) | (75353) |
| &nbsp;&nbsp;Settlement of forward-starting interest rate swap |  |  |
| &nbsp;&nbsp;Other | (148) | (141) |
| Net cash used for financing activities | (73832) | (317247) |
| Effect of exchange rate changes on cash | 163576 | (11947) |
| Net decrease in cash and cash equivalents | (9912) | (29801) |
| Cash and cash equivalents at beginning of period | 231882 | 242810 |
| Cash and cash equivalents at end of period | $221970 | $213009 |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>8</sub>

------

ARROW ELECTRONICS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Six Months Ended | Six Months Ended |
|  | June 28, 2025 | June 29, 2024 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consolidated net income | $266886 | $192722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile consolidated net income to net cash provided by operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 70972 | 82764 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of stock-based compensation | 30200 | 21700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity in losses (earnings) of affiliated companies | (661) | (910) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 5251 | (7398) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  | 1657 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on investments, net | (103895) | 4652 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (302) | 4975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in assets and liabilities, net of effects of acquired businesses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (1896481) | 1213562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 46449 | 493474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 1949919 | (1237812) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | (81710) | 273043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets and liabilities | (140845) | (319038) |
| &nbsp;&nbsp;Net cash provided by operating activities | 145783 | 723391 |
| &nbsp;&nbsp;Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Acquisition of property, plant, and equipment | (43597) | (51636) |
| &nbsp;&nbsp;Proceeds from settlement of net investment hedges | 24858 |  |
| &nbsp;&nbsp;Proceeds from sale of investments in equity securities | 100000 |  |
| &nbsp;&nbsp;Other |  | 6452 |
| Net cash provided by (used for) investing activities | 81261 | (45184) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Change in short-term and other borrowings | 454803 | (1144520) |
| &nbsp;&nbsp;(Repayments of) proceeds from long-term bank borrowings, net | (413657) | 673607 |
| &nbsp;&nbsp;Redemption of notes | (350000) | (500000) |
| &nbsp;&nbsp;Net proceeds from note offering |  | 494678 |
| &nbsp;&nbsp;Proceeds from exercise of stock options | 3203 | 4768 |
| &nbsp;&nbsp;Repurchases of common stock | (110149) | (163301) |
| &nbsp;&nbsp;Other | (148) | (141) |
| Net cash used for financing activities | (415948) | (634909) |
| Effect of exchange rate changes on cash | 222067 | (48342) |
| Net increase (decrease) in cash and cash equivalents | 33163 | (5044) |
| Cash and cash equivalents at beginning of period | 188807 | 218053 |
| Cash and cash equivalents at end of period | $221970 | $213009 |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>9</sub>

------

ARROW ELECTRONICS, INC.

ECS Gross Billings

(In thousands)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Global Enterprise Computing Solutions - Gross Billings<sup>(1)</sup>  | Global Enterprise Computing Solutions - Gross Billings<sup>(1)</sup>  | Global Enterprise Computing Solutions - Gross Billings<sup>(1)</sup>  | Global Enterprise Computing Solutions - Gross Billings<sup>(1)</sup>  | Global Enterprise Computing Solutions - Gross Billings<sup>(1)</sup>  | Global Enterprise Computing Solutions - Gross Billings<sup>(1)</sup>  | Global Enterprise Computing Solutions - Gross Billings<sup>(1)</sup>  |
|  | Quarter Ended | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended | Six Months Ended |
|  | June 28, | June 29, |  | June 28, | June 29, |  |
|  | 2025 | 2024 | Change | 2025 | 2024 | Change |
| Gross billings: |  |  |  |  |  |  |
| Americas ECS | $2543759 | $2441126 | 4% | $4851496 | $4804955 | 1% |
| EMEA ECS | 2596209 | 2031939 | 28% | 4927426 | 4076528 | 21% |
| Global ECS | $5139968 | $4473065 | 15% | $9778922 | $8881483 | 10% |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *Refer to page 4 for discussion about key business metrics. Gross billings are not a substitute for revenue.* 

b

![Graphic](arw-20250731xex99d1001.jpg)<sub>10</sub>

------

ARROW ELECTRONICS, INC.

NON-GAAP SALES RECONCILIATION

(In thousands)

(Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | Quarter Ended | Quarter Ended |  |
|  | June 28, 2025 | June 29, 2024 | % Change |
| Consolidated sales, as reported | $7579947 | $6892868 | 10.0% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 123311 |  |
| Consolidated sales, constant currency | $7579947 | $7016179 | 8.0% |
| Global components sales, as reported | $5284898 | $5032031 | 5.0% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 75437 |  |
| Global components sales, constant currency | $5284898 | $5107468 | 3.5% |
| Americas components sales, as reported | $1707522 | $1572840 | 8.6% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 544 |  |
| Americas components sales, constant currency | $1707522 | $1573384 | 8.5% |
| Asia components sales, as reported | $2150432 | $2019697 | 6.5% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 1228 |  |
| Asia components sales, constant currency | $2150432 | $2020925 | 6.4% |
| EMEA components sales, as reported | $1426944 | $1439494 | (0.9)% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 73665 |  |
| EMEA components sales, constant currency | $1426944 | $1513159 | (5.7)% |
| Global ECS sales, as reported | $2295049 | $1860837 | 23.3% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 47874 |  |
| Global ECS sales, constant currency | $2295049 | $1908711 | 20.2% |
| Americas ECS sales, as reported | $1052785 | $964070 | 9.2% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | (1263) |  |
| Americas ECS sales, constant currency | $1052785 | $962807 | 9.3% |
| EMEA ECS sales, as reported | $1242264 | $896767 | 38.5% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 49137 |  |
| EMEA ECS sales, constant currency | $1242264 | $945904 | 31.3% |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>11</sub>

------

ARROW ELECTRONICS, INC.

NON-GAAP SALES RECONCILIATION

(In thousands)

(Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | Six Months Ended | Six Months Ended |  |
|  | June 28, 2025 | June 29, 2024 | % Change |
| Consolidated sales, as reported | $14393964 | $13817128 | 4.2% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 38958 |  |
| Consolidated sales, constant currency | $14393964 | $13856086 | 3.9% |
| Global components sales, as reported | $10062620 | $10223448 | (1.6)% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 18997 |  |
| Global components sales, constant currency | $10062620 | $10242445 | (1.8)% |
| Americas components sales, as reported | $3276092 | $3169532 | 3.4% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | (497) |  |
| Americas components sales, constant currency | $3276092 | $3169035 | 3.4% |
| Asia components sales, as reported | $4019583 | $3957915 | 1.6% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | (7426) |  |
| Asia components sales, constant currency | $4019583 | $3950489 | 1.7% |
| EMEA components sales, as reported | $2766945 | $3096001 | (10.6)% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 26920 |  |
| EMEA components sales, constant currency | $2766945 | $3122921 | (11.4)% |
| Global ECS sales, as reported | $4331344 | $3593680 | 20.5% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 19961 |  |
| Global ECS sales, constant currency | $4331344 | $3613641 | 19.9% |
| Americas ECS sales, as reported | $1962688 | $1871818 | 4.9% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | (8059) |  |
| Americas ECS sales, constant currency | $1962688 | $1863759 | 5.3% |
| EMEA ECS sales, as reported | $2368656 | $1721862 | 37.6% |
| &nbsp;&nbsp;Impact of changes in foreign currencies |  | 28020 |  |
| EMEA ECS sales, constant currency | $2368656 | $1749882 | 35.4% |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>12</sub>

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ARROW ELECTRONICS, INC.

NON-GAAP EARNINGS RECONCILIATION

(In thousands except per share data)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Three months ended June 28, 2025 | Three months ended June 28, 2025 | Three months ended June 28, 2025 | Three months ended June 28, 2025 | Three months ended June 28, 2025 | Three months ended June 28, 2025 | Three months ended June 28, 2025 |
|  | Reported | Intangible | Restructuring, | Impact of |  |  |
|  | GAAP | amortization | Integration | Wind  |  | Non-GAAP |
|  | measure | expense | and other | Down<sup>(1)</sup> | Other<sup>(2)</sup> | measure |
| Operating income | $190586 | $4870 | $21919 | $(2172) | $172 | $215375 |
| Income before income taxes | 232956 | 4870 | 21919 | (2172) | (103804) | 153769 |
| &nbsp;&nbsp;Provision for income taxes | 45934 | 1208 | 5747 | (689) | (25119) | 27081 |
| Consolidated net income | 187022 | 3662 | 16172 | (1483) | (78685) | 126688 |
| &nbsp;&nbsp;Noncontrolling interests | (727) | 24 |  |  |  | (703) |
| Net income attributable to shareholders | $187749 | $3638 | $16172 | $(1483) | $(78685) | $127391 |
| Net income per diluted share <sup>(4)</sup> | $3.59 | $0.07 | $0.31 | $(0.03) | $(1.50) | $2.43 |
| Effective tax rate <sup>(5)</sup> | 19.7% |  |  |  |  | 17.6% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Three months ended June 29, 2024 | Three months ended June 29, 2024 | Three months ended June 29, 2024 | Three months ended June 29, 2024 | Three months ended June 29, 2024 | Three months ended June 29, 2024 | Three months ended June 29, 2024 |
|  | Reported | Intangible | Restructuring, | Impact of |  |  |
|  | GAAP | amortization | Integration | Wind  |  | Non-GAAP |
|  | measure | expense | and other | Down<sup>(1)</sup> | Other<sup>(3)</sup> | measure |
| Operating income | $212275 | $7456 | $40537 | $1627 | $— | $261895 |
| Income before income taxes | 139386 | 7456 | 40537 | 1627 | 6272 | 195278 |
| &nbsp;&nbsp;Provision for income taxes | 29762 | 1864 | 10214 | 389 | 1506 | 43735 |
| Consolidated net income | 109624 | 5592 | 30323 | 1238 | 4766 | 151543 |
| &nbsp;&nbsp;Noncontrolling interests | 926 | 135 |  |  |  | 1061 |
| Net income attributable to shareholders | $108698 | $5457 | $30323 | $1238 | $4766 | $150482 |
| Net income per diluted share <sup>(4)</sup> | $2.01 | $0.10 | $0.56 | $0.02 | $0.09 | $2.78 |
| Effective tax rate <sup>(5)</sup> | 21.4% |  |  |  |  | 22.4% |

---

![Graphic](arw-20250731xex99d1001.jpg)<sub>13</sub>

------

ARROW ELECTRONICS, INC.

NON-GAAP EARNINGS RECONCILIATION

(In thousands except per share data)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Six months ended June 28, 2025 | Six months ended June 28, 2025 | Six months ended June 28, 2025 | Six months ended June 28, 2025 | Six months ended June 28, 2025 | Six months ended June 28, 2025 | Six months ended June 28, 2025 |
|  | Reported | Intangible | Restructuring, | Impact of |  |  |
|  | GAAP | amortization | Integration | Wind  |  | Non-GAAP |
|  | measure | expense | and other | Down<sup>(1)</sup> | Other<sup>(2)</sup> | measure |
| Operating income | $349139 | $10230 | $39232 | $(4639) | $172 | $394134 |
| Income before income taxes | 336165 | 10230 | 39232 | (4639) | (103944) | 277044 |
| &nbsp;&nbsp;Provision for income taxes | 69279 | 2524 | 10098 | (1470) | (25152) | 55279 |
| Consolidated net income | 266886 | 7706 | 29134 | (3169) | (78792) | 221765 |
| &nbsp;&nbsp;Noncontrolling interests | (583) | 156 |  |  |  | (427) |
| Net income attributable to shareholders | $267469 | $7550 | $29134 | $(3169) | $(78792) | $222192 |
| Net income per diluted share <sup>(4)</sup> | $5.09 | $0.14 | $0.55 | $(0.06) | $(1.50) | $4.23 |
| Effective tax rate <sup>(5)</sup> | 20.6% |  |  |  |  | 20.0% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Six months ended June 29, 2024 | Six months ended June 29, 2024 | Six months ended June 29, 2024 | Six months ended June 29, 2024 | Six months ended June 29, 2024 | Six months ended June 29, 2024 | Six months ended June 29, 2024 |
|  | Reported | Intangible | Restructuring, | Impact of |  |  |
|  | GAAP | amortization | Integration | Wind  |  | Non-GAAP |
|  | measure | expense | and other | Down<sup>(1)</sup> | Other<sup>(3)</sup> | measure |
| Operating income | $398192 | $15002 | $87393 | $12086 | $— | $512673 |
| Income before income taxes | 244520 | 15002 | 87393 | 12086 | 6174 | 365175 |
| &nbsp;&nbsp;Provision for income taxes | 51798 | 3743 | 22228 | 2891 | 1482 | 82142 |
| Consolidated net income | 192722 | 11259 | 65165 | 9195 | 4692 | 283033 |
| &nbsp;&nbsp;Noncontrolling interests | 423 | 270 |  |  |  | 693 |
| Net income attributable to shareholders | $192299 | $10989 | $65165 | $9195 | $4692 | $282340 |
| Net income per diluted share <sup>(4)</sup> | $3.53 | $0.20 | $1.20 | $0.17 | $0.09 | $5.18 |
| Effective tax rate <sup>(5)</sup> | 21.2% |  |  |  |  | 22.5% |

---

------

*(1) Includes write downs (recoveries) of inventory related to the wind down of businesses.*

*(2) Other includes gain on investments, net, non-recurring tax items, and employee severance and benefits costs not related to restructuring initiative presented in cost of sales.*

*(3) Other includes loss (gain) on investments, net and loss on extinguishment of debt.*

*(4) The sum of the components for non-GAAP diluted EPS, as adjusted may not agree to totals, as presented, due to rounding.*

*(5) The items as shown in this table, represent the reconciling items for the tax rate as reported and as a non-GAAP measure.*

![Graphic](arw-20250731xex99d1001.jpg)<sub>14</sub>

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ARROW ELECTRONICS, INC.

SEGMENT INFORMATION

(In thousands)

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended |
|  | June 28,<br>2025 | June 29,<br>2024 | June 28,<br>2025 | June 29,<br>2024 |
| Sales: |  |  |  |  |
| &nbsp;&nbsp;Global components | $5284898 | $5032031 | $10062620 | $10223448 |
| &nbsp;&nbsp;Global ECS | 2295049 | 1860837 | 4331344 | 3593680 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consolidated | $7579947 | $6892868 | $14393964 | $13817128 |
| Operating income (loss): |  |  |  |  |
| &nbsp;&nbsp;Global components (a) | $186808 | $210201 | $358193 | $435763 |
| &nbsp;&nbsp;Global ECS (b) | 96969 | 102581 | 174283 | 174040 |
| &nbsp;&nbsp;Corporate (c) | (93191) | (100507) | (183337) | (211611) |
| &nbsp;&nbsp;&nbsp;&nbsp;Consolidated | $190586 | $212275 | $349139 | $398192 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Global components operating income includes recoveries of $2.2 million and $4.6 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2025, respectively, and charges of $1.6 million and $12.1 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2024, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Global ECS operating income includes a $20.0 million benefit related to the reversal of an allowance for credit losses due to the collection of certain aged receivables related to one customer for the second quarter and first six months of 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Corporate operating loss includes restructuring, integration, and other charges of $21.9 million and $39.2 million for the second quarter and first six months of 2025, respectively, and $40.5 million and $87.4 million for the second quarter and first six months of 2024, respectively.

---

| | |
|:---|:---|
| ![Graphic](arw-20250731xex99d1001.jpg) | 15 |

---

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ARROW ELECTRONICS, INC.

NON-GAAP SEGMENT RECONCILIATION

(In thousands)

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended |
|  | June 28,<br>2025 | June 29,<br>2024 | June 28,<br>2025 | June 29,<br>2024 |
| Global components gross profit, as reported | $591454 | $624860 | $1146399 | $1270574 |
| Impact of wind down to inventory | (2172) | 1627 | (4639) | 12086 |
| Other | 172 |  | 172 |  |
| Global components non-GAAP gross profit | $589454 | $626487 | $1141932 | $1282660 |
| Global components gross profit as a percentage of sales, as reported | 11.2% | 12.4% | 11.4% | 12.4% |
| Global components non-GAAP gross profit as a percentage of sales | 11.2% | 12.4% | 11.3% | 12.5% |
| Global ECS gross profit, as reported | $257203 | $221584 | $476250 | $433696 |
| Global ECS gross profit as a percentage of sales, as reported | 11.2% | 11.9% | 11.0% | 12.1% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quarter Ended | Quarter Ended | Six Months Ended | Six Months Ended |
|  | June 28,<br>2025 | June 29,<br>2024 | June 28,<br>2025 | June 29,<br>2024 |
| Global components operating income, as reported | $186808 | $210201 | $358193 | $435763 |
| &nbsp;&nbsp;Intangible assets amortization expense | 3945 | 6399 | 8383 | 12887 |
| &nbsp;&nbsp;Impact of wind down to inventory | (2172) | 1627 | (4639) | 12086 |
| &nbsp;&nbsp;Other | 172 |  | 172 |  |
| Global components non-GAAP operating income | $188753 | $218227 | $362109 | $460736 |
| Global components operating income as a percentage of sales, as reported | 3.5% | 4.2% | 3.6% | 4.3% |
| Global components non-GAAP operating income as a percentage of sales | 3.6% | 4.3% | 3.6% | 4.5% |
| Global ECS operating income, as reported | $96969 | $102581 | $174283 | $174040 |
| &nbsp;&nbsp;Intangible assets amortization expense | 925 | 1057 | 1847 | 2115 |
| Global ECS non-GAAP operating income | $97894 | $103638 | $176130 | $176155 |
| Global ECS operating income as a percentage of sales, as reported | 4.2% | 5.5% | 4.0% | 4.8% |
| Global ECS non-GAAP operating income as a percentage of sales | 4.3% | 5.6% | 4.1% | 4.9% |

---

NON-GAAP SEGMENT RECONCILIATIONS

---

| | |
|:---|:---|
| ![Graphic](arw-20250731xex99d1001.jpg) | 16 |

---

------