Arrow Slightly Off-Target as Margins Offset Revenue Growth; Maintaining $91
Narrow-moat distributor Arrow Electronics announced mixed first-quarter financial results. Revenue was near the high-end of management’s prior guidance, and above our estimates, but the mix reflected a weaker demand environment in Europe and the Americas where the firm sells more of its high-margin component products. As a result, profitability was curbed as adjusted earnings just met the low-end of prior guidance. Product and regional mix, profitability, and working capital paint a mixed near-t...Arrow Electronics is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company has two business segments, the global components business and the global enterprise computing solutions (ECS) business. The global components segment markets and distributes electronic components and provides customers with the ability to deliver technologies to the market through design engineering, global marketing and integration, global logistics, and supply chain management. The global ECS segment provides computing solutions and services, including data-center, cloud, security, and analytics solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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