
ARROW ELECTRONICS, INC. 9151 EAST PANORAMA CIRCLE CENTENNIAL, CO 80112 303-824-4000		NEWS

Exhibit 99.1

Arrow Electronics Reports Record Quarterly Revenue and EPS

--Total Revenue of $10.7 billion, up 39% Year-over-Year, Above High End of Guidance--

--Diluted EPS of $6.17 and Non-GAAP Diluted EPS of $6.22, Both Above High End of Guidance--

CENTENNIAL, Colo.--(BUSINESS WIRE)- Nov. 5, 2026--Arrow Electronics, Inc. (NYSE:ARW) today announced financial results for its third quarter of 2026.

“Arrow delivered record quarterly revenue and EPS in the third quarter, with strong momentum across both our Global Components and Global Enterprise Computing Solutions businesses, demonstrating the power of our diversified business model,” said Bill Austen, Arrow’s interim chief executive officer. “Global Components continues to benefit from broad-based demand across geographies, customer segments and industry verticals, with a growing backlog and book-to-bill ratios well above parity. Global Enterprise Computing Solutions also experienced robust demand as customers continue to modernize their technology environments through investments in AI, cloud, cybersecurity and hybrid infrastructure solutions.”

“These results reflect the strength of our scalable operating model, disciplined execution and continued focus on expanding higher-margin, value-added services. We remain committed to strengthening our competitive position and broadening our capabilities to capture attractive growth opportunities. Supported by our solid financial foundation and disciplined approach to capital allocation, we are confident that Arrow is well positioned to deliver sustainable, profitable growth and create long-term value for all of our stakeholders.”


Arrow Consolidated
	Quarter Ended						Nine Months Ended
		October 3,		September 27,				October 3,		September 27,
(in millions except per share data)		2026		2025	Change			2026		2025	Change
Consolidated sales	$	10,718	$	7,713	39	%	$	30,184	$	22,107	37	%
Net income attributable to shareholders		318		109	192	%		826		377	119	%
Net income per diluted share		6.17		2.09	196	%		15.97		7.19	122	%
Non-GAAP net income attributable to shareholders ⁽¹⁾		321		126	155	%		874		348	151	%
Non-GAAP net income per diluted share ⁽¹⁾		6.22		2.41	158	%		16.89		6.64	154	%

In the third quarter of 2026, sales increased 39 percent year over year on both an actual and constant currency basis. Changes in foreign currencies had a negative impact of $10.3 million on sales and a positive impact of $0.02 on earnings per share on a diluted basis compared to the third quarter of 2025.


Global Components
	Quarter Ended						Nine Months Ended
		October 3,		September 27,				October 3,		September 27,
(in millions)		2026		2025	Change			2026		2025	Change
Global Components sales	$	7,943	$	5,556	43	%	$	21,949	$	15,619	41	%
Global Components operating income		413		197	109	%		1,173		556	111	%
Global Components non-GAAP operating income ⁽¹⁾		413		199	107	%		1,175		561	109	%

In the third quarter of 2026, Global Components sales increased 43 percent year over year on both an actual and constant currency basis. Americas Components third-quarter sales increased 58 percent year over year. EMEA Components third-quarter sales increased 41 percent year over year and increased 42 percent year over year on a constant currency basis. Asia-Pacific Components third-quarter sales increased 33 percent year over year.


		1


ARROW ELECTRONICS, INC. 9151 EAST PANORAMA CIRCLE CENTENNIAL, CO 80112 303-824-4000		NEWS


Global Enterprise Computing Solutions ("ECS")
	Quarter Ended						Nine Months Ended
		October 3,		September 27,				October 3,		September 27,
(in millions)		2026		2025	Change			2026		2025	Change
Global ECS sales	$	2,775	$	2,156	29	%	$	8,235	$	6,487	27	%
Global ECS operating income		98		64	54	%		287		238	21	%
Global ECS non-GAAP operating income ⁽¹⁾		99		65	53	%		290		241	20	%

In the third quarter of 2026, Global ECS sales increased 29 percent year over year and increased 30 percent year over year on a constant currency basis. Global ECS gross billings increased 14 percent year over year. Global ECS third-quarter operating income increased 54 percent and non-GAAP operating income increased 53 percent year over year. EMEA ECS third-quarter sales increased 30 percent year over year and increased 32 percent year over year on a constant currency basis. Americas ECS third-quarter sales increased 27 percent year over year.

Other Financial Information

In the third quarter of 2026, Arrow used $441 million of cash flow from operations, primarily due to working capital investments to support customer demand. The company also repurchased $93 million of shares during the third quarter.

¹ A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in the reconciliation tables included herein.


		2

Fourth-Quarter 2026 Outlook

●	Consolidated sales of $11.55 billion to $12.15 billion, with Global Components sales of $8.15 billion to $8.55 billion, and Global ECS sales of $3.40 billion to $3.60 billion

●	Net income per share on a diluted basis of $6.25 to $6.45, and non-GAAP net income per share on a diluted basis of $7.00 to $7.20

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

●	Interest expense of approximately $50 million

●	Changes in foreign currencies to decrease sales by approximately $88 million, and earnings per share on a diluted basis by $0.14 compared to the fourth quarter of 2025

●	Changes in foreign currencies to decrease quarter-over-quarter growth in sales by $86 million, and earnings per share on a diluted basis to decrease by $0.07 compared to the third quarter of 2026


Fourth-Quarter 2026 GAAP to non-GAAP Outlook Reconciliation
NON-GAAP SALES RECONCILIATION
	Quarter Ended					Quarter Ended
	December 31,		December 31,			December 31,		October 3,
(in billions)	2026		2025		% Change	2026		2026		% Change

Global Components sales, GAAP	$	8.15 - 8.55	$	5.88	39% - 45%	$	8.15 - 8.55	$	7.94	3% - 8%
Impact of changes in foreign currencies		—		(0.02)			—		(0.04)
Global Components sales, constant currency	$	8.15 - 8.55	$	5.86	39% - 46%	$	8.15 - 8.55	$	7.90	3% - 8%

Global ECS sales, GAAP	$	3.40 - 3.60	$	2.86	19% - 26%	$	3.40 - 3.60	$	2.78	23% - 30%
Impact of changes in foreign currencies		—		(0.06)			—		(0.04)
Global ECS sales, constant currency	$	3.40 - 3.60	$	2.80	21% - 29%	$	3.40 - 3.60	$	2.74	24% - 31%

NON-GAAP EARNINGS RECONCILIATION

Reported

Intangible amortization

Restructuring &

GAAP measure

expense

integration charges

Non-GAAP measure

Net income per diluted share

$6.25 to $6.45

$0.07

$0.68

$7.00 to $7.20


		3

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 third-quarter 2026 financial results on Nov. 5, 2026, at 8:30 a.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/511113055. Shortly after the conclusion of the conference call, a webcast replay will be available on the Arrow website for one year.

About Arrow Electronics

Arrow Electronics (NYSE:ARW) sources and engineers technology solutions for thousands of leading manufacturers and service providers. With global 2025 sales of $30.9 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 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 represents amounts invoiced to customers for goods and services during a specified period and does 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 or current 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. These 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 or changes, including those that may occur in connection with recession, inflation, tax rates, foreign currency exchange rates, or the availability of capital; impacts of military conflict and sanctions; political instability and changes; trade protection measures, tariffs, increased trade tensions, trade agreements and policies, and other restrictions, duties, and value-added taxes, and the associated macroeconomic impacts; disruptions, shortages, or inefficiencies in the supply chain; non-compliance with certain laws, regulations, or executive orders, such as trade, export, antitrust, and anti-corruption laws, or regulatory restrictions relating to the company or its subsidiaries or the permissibility of third-parties to transact therewith; the inability to realize sufficient sales to cover non-cancellable purchase obligations under certain ECS distribution agreements; changes in product supply, pricing, and customer demand; increased profit-margin pressure resulting from industry conditions, competition, or other factors; other vagaries in the Global Components and the Global ECS markets; management transitions; changes to applicable laws, regulations, executive orders, or rules relating to government contractors and the resulting legal and reputational exposure, including but not limited to those relating to artificial intelligence, environmental, social, governance, cybersecurity, and data privacy issues; changes in relationships with key suppliers; commercial disputes, patent infringement claims, product liability lawsuits, or other legal proceedings; foreign tax and other loss contingencies; failure, disruption, or compromise of the company’s information systems or those of a third-party service provider, including unauthorized use or disclosure of company, supplier, or customer information; outbreaks, epidemics, pandemics, or public health crises; the effects of natural or man-made catastrophic events; 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


		4

ARROW ELECTRONICS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except per share data)

(Unaudited)


	Quarter Ended				Nine Months Ended
		October 3, 2026		September 27, 2025		October 3, 2026		September 27, 2025

Sales	$	10,717,739	$	7,712,541	$	30,183,524	$	22,106,505
Cost of sales		9,558,407		6,877,227		26,808,523		19,648,542
Gross profit		1,159,332		835,314		3,375,001		2,457,963
Operating expenses:
Selling, general, and administrative		688,168		587,866		2,032,447		1,751,172
Depreciation and amortization		35,873		32,793		107,525		103,765
Restructuring, integration, and other		5,034		35,648		65,837		74,880
		729,075		656,307		2,205,809		1,929,817
Operating income		430,257		179,007		1,169,192		528,146
Equity in earnings of affiliated companies		1,693		463		4,654		1,124
Gain on investments, net		2,893		4,859		9,145		108,975
Post-retirement expense		(999)		(664)		(2,960)		(1,950)
Interest and other financing expense, net		(40,138)		(54,875)		(125,919)		(171,340)
Income before income taxes		393,706		128,790		1,054,112		464,955
Provision for income taxes		75,175		19,528		226,716		88,807
Consolidated net income		318,531		109,262		827,396		376,148
Noncontrolling interests		156		69		1,204		(514)
Net income attributable to shareholders	$	318,375	$	109,193	$	826,192	$	376,662
Net income per share:
Basic	$	6.25	$	2.11	$	16.14	$	7.25
Diluted	$	6.17	$	2.09	$	15.97	$	7.19
Weighted-average shares outstanding:
Basic		50,953		51,695		51,195		51,935
Diluted		51,615		52,141		51,721		52,381


		6

ARROW ELECTRONICS, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands except par value)

(Unaudited)


		October 3,		December 31,
		2026		2025

ASSETS
Current assets:
Cash and cash equivalents	$	215,607	$	306,467
Accounts receivable, net		33,259,191		19,738,666
Inventories		7,305,982		5,081,863
Other current assets		871,546		533,035
Total current assets		41,652,326		25,660,031
Property, plant, and equipment, at cost:
Land		5,691		5,691
Buildings and improvements		208,288		199,433
Machinery and equipment		1,721,665		1,715,415
		1,935,644		1,920,539
Less: Accumulated depreciation and amortization		(1,482,743)		(1,445,889)
Property, plant, and equipment, net		452,901		474,650
Investments in affiliated companies		61,852		59,315
Intangible assets, net		62,769		77,022
Goodwill		2,101,839		2,120,071
Other assets		715,608		687,049
Total assets	$	45,047,295	$	29,078,138
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	32,862,316	$	17,383,796
Accrued expenses		1,710,636		1,461,261
Short-term borrowings, including current portion of long-term debt		110,497		341
Total current liabilities		34,683,449		18,845,398
Long-term debt		2,641,483		3,084,715
Other liabilities		460,659		489,326

Equity:
Shareholders’ equity:
Common stock, par value $1:
Authorized - 160,000 shares in both 2026 and 2025
Issued - 56,135 and 55,838 shares in 2026 and 2025, respectively		56,135		55,838
Capital in excess of par value		624,987		586,993
Treasury stock (5,577 and 4,768 shares in 2026 and 2025, respectively), at cost		(651,824)		(483,571)
Retained earnings		7,378,284		6,552,092
Accumulated other comprehensive loss		(219,014)		(126,640)
Total shareholders’ equity		7,188,568		6,584,712
Noncontrolling interests		73,136		73,987
Total equity		7,261,704		6,658,699
Total liabilities and equity	$	45,047,295	$	29,078,138


		7

ARROW ELECTRONICS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)


	Quarter Ended
	October 3, 2026		September 27, 2025
Cash flows from operating activities:
Consolidated net income:	$	318,531	$	109,262
Adjustments to reconcile consolidated net income to net cash used for operations:
Depreciation and amortization		35,873		32,793
Amortization of stock-based compensation		11,563		(9,752)
Equity in earnings of affiliated companies		(1,693)		(463)
Deferred income taxes		(26,920)		(66)
Gain on investments, net		(2,781)		(5,540)
Other		(622)		225
Change in assets and liabilities:
Accounts receivable, net		(5,294,432)		(395,610)
Inventories		(1,375,531)		18,776
Accounts payable		5,788,135		(78,464)
Accrued expenses		228,429		(12,657)
Other assets and liabilities		(121,961)		59,812
Net cash used for operating activities		(441,409)		(281,684)
Cash flows from investing activities:
Acquisition of property, plant, and equipment		(26,877)		(30,276)
Net cash used for investing activities		(26,877)		(30,276)
Cash flows from financing activities:
Change in short-term and other borrowings		(7,076)		(444,953)
Proceeds from long-term bank borrowings, net		586,630		751,880
Proceeds from exercise of stock options		82		226
Repurchases of common stock		(99,306)		(630)
Net cash provided by financing activities		480,330		306,523
Effect of exchange rate changes on cash		(41,068)		(2,921)
Net decrease in cash and cash equivalents		(29,024)		(8,358)
Cash and cash equivalents at beginning of period		244,631		221,970
Cash and cash equivalents at end of period	$	215,607	$	213,612


		8

ARROW ELECTRONICS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)


	Nine Months Ended
	October 3, 2026		September 27, 2025
Cash flows from operating activities:
Consolidated net income:	$	827,396	$	376,148
Adjustments to reconcile consolidated net income to net cash provided by (used for) operations:
Depreciation and amortization		107,525		103,765
Amortization of stock-based compensation		33,978		20,448
Equity in earnings of affiliated companies		(4,654)		(1,124)
Deferred income taxes		(14,517)		5,185
Loss on disposition of businesses, net		22,830		—
Gain on investments, net		(8,827)		(109,435)
Other		(795)		(77)
Change in assets and liabilities:
Accounts receivable, net		(13,633,334)		(2,292,091)
Inventories		(2,251,808)		65,225
Accounts payable		15,543,508		1,871,455
Accrued expenses		341,010		(94,367)
Other assets and liabilities		(385,620)		(81,033)
Net cash provided by (used for) operating activities		576,692		(135,901)
Cash flows from investing activities:
Acquisition of property, plant, and equipment		(80,123)		(73,873)
Proceeds from settlement of net investment hedges		—		24,858
Proceeds from sale of investments in equity securities		—		100,000
Net cash (used for) provided by investing activities		(80,123)		50,985
Cash flows from financing activities:
Change in short-term and other borrowings		186		9,852
Repayments of long-term bank borrowings, net		(336,540)		338,223
Redemption of notes		—		(350,000)
Proceeds from exercise of stock options		10,513		3,427
Repurchases of common stock		(174,453)		(110,779)
Other		(153)		(148)
Net cash used for financing activities		(500,447)		(109,425)
Effect of exchange rate changes on cash		(86,982)		219,146
Net (decrease) increase in cash and cash equivalents		(90,860)		24,805
Cash and cash equivalents at beginning of period		306,467		188,807
Cash and cash equivalents at end of period	$	215,607	$	213,612


		9

ARROW ELECTRONICS, INC.

ECS Gross Billings

(In thousands)

(Unaudited)


Global Enterprise Computing Solutions - Gross Billings⁽¹⁾
	Quarter Ended						Nine Months Ended
		October 3,		September 27,				October 3,		September 27,
		2026		2025	% Change			2026		2025	% Change
Gross billings:
Americas ECS	$	2,907,324	$	2,713,373	7	%	$	8,560,299	$	7,564,869	13	%
EMEA ECS		3,028,245		2,476,599	22	%		9,664,888		7,404,025	31	%
Global ECS	$	5,935,569	$	5,189,972	14	%	$	18,225,187	$	14,968,894	22	%

(1)

Refer to page 4 for discussion about key business metrics. Gross billings are not a substitute for revenue.


		10

ARROW ELECTRONICS, INC.

NON-GAAP SALES RECONCILIATION

(In thousands)

(Unaudited)


	Quarter Ended
	October 3, 2026		September 27, 2025		% Change

Consolidated sales, as reported	$	10,717,739	$	7,712,541	39.0	%
Impact of changes in foreign currencies		—		(10,324)
Consolidated sales, constant currency	$	10,717,739	$	7,702,217	39.2	%

Global Components sales, as reported	$	7,942,592	$	5,556,392	42.9	%
Impact of changes in foreign currencies		—		4,146
Global Components sales, constant currency	$	7,942,592	$	5,560,538	42.8	%

Americas Components sales, as reported	$	2,703,157	$	1,708,840	58.2	%
Impact of changes in foreign currencies		—		114
Americas Components sales, constant currency	$	2,703,157	$	1,708,954	58.2	%

EMEA Components sales, as reported	$	2,036,976	$	1,443,607	41.1	%
Impact of changes in foreign currencies		—		(12,050)
EMEA Components sales, constant currency	$	2,036,976	$	1,431,557	42.3	%

Asia Components sales, as reported	$	3,202,459	$	2,403,945	33.2	%
Impact of changes in foreign currencies		—		16,082
Asia Components sales, constant currency	$	3,202,459	$	2,420,027	32.3	%

Global ECS sales, as reported	$	2,775,147	$	2,156,149	28.7	%
Impact of changes in foreign currencies		—		(14,470)
Global ECS sales, constant currency	$	2,775,147	$	2,141,679	29.6	%

Americas ECS sales, as reported	$	1,300,944	$	1,021,950	27.3	%
Impact of changes in foreign currencies		—		(1,104)
Americas ECS sales, constant currency	$	1,300,944	$	1,020,846	27.4	%

EMEA ECS sales, as reported	$	1,474,203	$	1,134,199	30.0	%
Impact of changes in foreign currencies		—		(13,366)
EMEA ECS sales, constant currency	$	1,474,203	$	1,120,833	31.5	%


		11

ARROW ELECTRONICS, INC.

NON-GAAP SALES RECONCILIATION

(In thousands)

(Unaudited)


	Nine Months Ended
	October 3, 2026		September 27, 2025		% Change

Consolidated sales, as reported	$	30,183,524	$	22,106,505	36.5	%
Impact of changes in foreign currencies		—		356,672
Consolidated sales, constant currency	$	30,183,524	$	22,463,177	34.4	%

Global Components sales, as reported	$	21,948,552	$	15,619,012	40.5	%
Impact of changes in foreign currencies		—		217,692
Global Components sales, constant currency	$	21,948,552	$	15,836,704	38.6	%

Americas Components sales, as reported	$	7,469,825	$	4,984,932	49.8	%
Impact of changes in foreign currencies		—		905
Americas Components sales, constant currency	$	7,469,825	$	4,985,837	49.8	%

EMEA Components sales, as reported	$	5,740,939	$	4,210,552	36.3	%
Impact of changes in foreign currencies		—		176,167
EMEA Components sales, constant currency	$	5,740,939	$	4,386,719	30.9	%

Asia Components sales, as reported	$	8,737,788	$	6,423,528	36.0	%
Impact of changes in foreign currencies		—		40,620
Asia Components sales, constant currency	$	8,737,788	$	6,464,148	35.2	%

Global ECS sales, as reported	$	8,234,972	$	6,487,493	26.9	%
Impact of changes in foreign currencies		—		138,980
Global ECS sales, constant currency	$	8,234,972	$	6,626,473	24.3	%

Americas ECS sales, as reported	$	3,621,507	$	2,984,638	21.3	%
Impact of changes in foreign currencies		—		3,445
Americas ECS sales, constant currency	$	3,621,507	$	2,988,083	21.2	%

EMEA ECS sales, as reported	$	4,613,465	$	3,502,855	31.7	%
Impact of changes in foreign currencies		—		135,535
EMEA ECS sales, constant currency	$	4,613,465	$	3,638,390	26.8	%


		12

ARROW ELECTRONICS, INC.

NON-GAAP EARNINGS RECONCILIATION

(In thousands except per share data)

(Unaudited)


Three months ended October 3, 2026
	Reported			Intangible		Restructuring,		Impact of			Non
	GAAP			amortization		Integration		Wind			recurring			Non-GAAP
	measure			expense		and other		Down⁽¹⁾			tax items		Other⁽²⁾	measure
Operating income	$	430,257		$	4,745	$	5,034	$	(3,939)	$	—	$	—	$	436,097
Income before income taxes		393,706			4,745		5,034		(3,939)		—		(2,893)		396,653
Provision for income taxes		75,175			1,160		1,083		(1,246)		—		(695)		75,477
Consolidated net income		318,531			3,585		3,951		(2,693)		—		(2,198)		321,176
Net income attributable to shareholders	$	318,375		$	3,585	$	3,951	$	(2,693)	$	—	$	(2,198)	$	321,020
Net income per diluted share ⁽⁵⁾	$	6.17		$	0.07	$	0.08	$	(0.05)	$	—	$	(0.04)	$	6.22
Effective tax rate ⁽⁶⁾		19.1	%												19.0	%


Three months ended September 27, 2025
	Reported			Intangible		Restructuring,		Impact of			Non
	GAAP			amortization		Integration		Wind			recurring			Non-GAAP
	measure			expense		and other		Down⁽¹⁾			tax items⁽³⁾		Other⁽²⁾	measure
Operating income	$	179,007		$	4,766	$	35,648	$	(1,989)	$	—	$	—	$	217,432
Income before income taxes		128,790			4,766		35,648		(1,989)		—		(4,859)		162,356
Provision for income taxes		19,528			1,162		9,302		(629)		8,359		(1,166)		36,556
Consolidated net income		109,262			3,604		26,346		(1,360)		(8,359)		(3,693)		125,800
Net income attributable to shareholders	$	109,193		$	3,604	$	26,346	$	(1,360)	$	(8,359)	$	(3,693)	$	125,731
Net income per diluted share ⁽⁵⁾	$	2.09		$	0.07	$	0.51	$	(0.03)	$	(0.16)	$	(0.07)	$	2.41
Effective tax rate ⁽⁶⁾		15.2	%												22.5	%


		13

ARROW ELECTRONICS, INC.

NON-GAAP EARNINGS RECONCILIATION

(In thousands except per share data)

(Unaudited)


Nine months ended October 3, 2026
	Reported			Intangible		Restructuring,		Impact of			Non
	GAAP			amortization		Integration		Wind			recurring			Non-GAAP
	measure			expense		and other		Down⁽¹⁾			tax items		Other⁽²⁾		measure
Operating income	$	1,169,192		$	14,263	$	65,837	$	(9,157)	$	—	$	—	$	1,240,135
Income before income taxes		1,054,112			14,263		65,837		(9,157)		—		(9,145)		1,115,910
Provision for income taxes		226,716			3,486		17,117		(2,897)		(1,230)		(2,196)		240,996
Consolidated net income		827,396			10,777		48,720		(6,260)		1,230		(6,949)		874,914
Noncontrolling interests		1,204			—		—		—		—		—		1,204
Net income attributable to shareholders	$	826,192		$	10,777	$	48,720	$	(6,260)	$	1,230	$	(6,949)	$	873,710
Net income per diluted share ⁽⁵⁾	$	15.97		$	0.21	$	0.94	$	(0.12)	$	0.02	$	(0.13)	$	16.89
Effective tax rate ⁽⁶⁾		21.5	%												21.6	%


Nine months ended September 27, 2025
	Reported			Intangible		Restructuring,		Impact of			Non
	GAAP			amortization		Integration		Wind			recurring			Non-GAAP
	measure			expense		and other		Down⁽¹⁾			tax items⁽³⁾		Other⁽⁴⁾		measure
Operating income	$	528,146		$	14,996	$	74,880	$	(6,628)	$	—	$	172	$	611,566
Income before income taxes		464,955			14,996		74,880		(6,628)		—		(108,803)		439,400
Provision for income taxes		88,807			3,686		19,400		(2,099)		8,143		(26,102)		91,835
Consolidated net income		376,148			11,310		55,480		(4,529)		(8,143)		(82,701)		347,565
Noncontrolling interests		(514)			156		—		—		—		—		(358)
Net income attributable to shareholders	$	376,662		$	11,154	$	55,480	$	(4,529)	$	(8,143)	$	(82,701)	$	347,923
Net income per diluted share ⁽⁵⁾	$	7.19		$	0.21	$	1.06	$	(0.09)	$	(0.16)	$	(1.58)	$	6.64
Effective tax rate ⁽⁶⁾		19.1	%												20.9	%

(1) Includes recoveries of inventory related to the wind down of a business.

(2) Other includes gain on investments, net.

(3) Includes impacts from tax settlements related to U.S. federal tax law changes enacted as part of the 2017 Tax Cuts and Jobs Act.

(4) Other includes gain on investments, net and employee severance and benefits costs not related to restructuring initiative presented in cost of sales.

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

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


		14

ARROW ELECTRONICS, INC.

SEGMENT INFORMATION

(In thousands)

(Unaudited)


	Quarter Ended				Nine Months Ended
	October 3,		September 27,		October 3,		September 27,
	2026		2025		2026		2025
Sales:
Global Components	$	7,942,592	$	5,556,392	$	21,948,552	$	15,619,012
Global ECS		2,775,147		2,156,149		8,234,972		6,487,493
Consolidated	$	10,717,739	$	7,712,541	$	30,183,524	$	22,106,505
Operating income:
Global Components (a)	$	413,032	$	197,355	$	1,172,826	$	555,548
Global ECS (b)		98,218		63,744		287,331		238,027
Segment operating income	$	511,250	$	261,099	$	1,460,157	$	793,575
Corporate operating expenses (c)		(80,993)		(82,092)		(290,965)		(265,429)
Consolidated	$	430,257	$	179,007	$	1,169,192	$	528,146

(a)

Global Components operating income includes $3.9 million and $9.2 million in inventory recoveries related to the wind down of a business for the third quarter and first nine months of 2026, respectively, and $2.0 million and $6.6 million in inventory recoveries related to the wind down of a business for the third quarter and first nine months of 2025, respectively.

(b)

Global ECS operating income includes costs related to the underperformance of certain non-cancellable multi-year purchase obligations, where the quarterly fee was in excess of the margin realized, in the amount of $3.8 million and $52.1 million for the third quarter and first nine months of 2026, respectively, and $12.6 million and $18.3 million, for the third quarter and first nine months of 2025, respectively.

(c)	Corporate unallocated operating expenses includes restructuring, integration, and other charges of $5.0 million and $65.8 million for the third quarter and first nine months of 2026, respectively, and $35.6 million and $74.9 million for the third quarter and first nine months of 2025, respectively.


		15

ARROW ELECTRONICS, INC.

NON-GAAP SEGMENT RECONCILIATION

(In thousands)

(Unaudited)


	Quarter Ended						Nine Months Ended
	October 3,			September 27,			October 3,			September 27,
	2026			2025			2026			2025
Global Components gross profit, as reported	$	878,761		$	609,101		$	2,542,012		$	1,755,500
Impact of wind down to inventory		(3,939)			(1,989)			(9,157)			(6,628)
Other		—			—			—			172
Global Components non-GAAP gross profit	$	874,822		$	607,112		$	2,532,855		$	1,749,044
Global Components gross profit as a percentage of sales, as reported		11.1	%		11.0	%		11.6	%		11.2	%
Global Components non-GAAP gross profit as a percentage of sales		11.0	%		10.9	%		11.5	%		11.2	%

Global ECS gross profit, as reported	$	280,571		$	226,213		$	832,989		$	702,463
Global ECS gross profit as a percentage of sales, as reported		10.1	%		10.5	%		10.1	%		10.8	%


	Quarter Ended						Nine Months Ended
	October 3,			September 27,			October 3,			September 27,
	2026			2025			2026			2025
Global Components operating income, as reported	$	413,032		$	197,355		$	1,172,826		$	555,548
Intangible assets amortization expense		3,817			3,838			11,478			12,221
Impact of wind down to inventory		(3,939)			(1,989)			(9,157)			(6,628)
Other		—			—			—			172
Global Components non-GAAP operating income	$	412,910		$	199,204		$	1,175,147		$	561,313
Global Components operating income as a percentage of sales, as reported		5.2	%		3.6	%		5.3	%		3.6	%
Global Components non-GAAP operating income as a percentage of sales		5.2	%		3.6	%		5.4	%		3.6	%

Global ECS operating income, as reported	$	98,218		$	63,744		$	287,331		$	238,027
Intangible assets amortization expense		928			928			2,785			2,775
Global ECS non-GAAP operating income	$	99,146		$	64,672		$	290,116		$	240,802
Global ECS operating income as a percentage of sales, as reported		3.5	%		3.0	%		3.5	%		3.7	%
Global ECS non-GAAP operating income as a percentage of sales		3.6	%		3.0	%		3.5	%		3.7	%

NON-GAAP SEGMENT RECONCILIATIONS


		16


Contacts
Investors:		Michael Nelson,
		Vice President, Investor Relations
		720-654-9893

Media:		John Hourigan,
		Vice President, Public Affairs and Corporate Marketing
		303-824-4586