What is the market's earnings forecast for Arrow Electronics next quarter?

What factors drove the changes in Arrow Electronics's revenue and profit?

What is Arrow Electronics's gross profit margin?

What does Arrow Electronics do and what are its main business segments?

What is the revenue and EPS growth rate for Arrow Electronics year over year?

What is Arrow Electronics's latest dividend and current dividend yield?

What were the key takeaways from Arrow Electronics's earnings call?

What guidance did Arrow Electronics's management provide for the next earnings period?

- **Revenue & EPS Beat**: Q3 revenue $7.7B (+13% YoY), non-GAAP EPS $2.41 vs. guidance high end. 
- **ECS Growth**: Billings $5.2B (+14% YoY), but $21M charge on underperforming contracts. 
- **Gradual Recovery**: Components business in early stages of upturn, APAC leading regional growth. 
- **AI Investment Payoff**: Supply chain services for AI infrastructure driving margin expansion. 
- **Shareholder Returns**: $3.5B returned via buybacks since 2020. 


**【CEO Summary Section】**
- Interim CEO Bill Austen emphasized Arrow's resilience and strategic focus on value-added services, including supply chain, engineering, and integration services. 
- Q3 revenue of $7.7B exceeded midpoint of guidance, with non-GAAP EPS of $2.41 surpassing high end of range. 
- Highlighted resolution of BIS entity list issue, showcasing strong trade compliance program. 
- ECS segment billings reached $5.2B (up 14% YoY), driven by hybrid cloud and AI-related solutions. 
- 2026 outlook: gradual recovery in components business, with APAC leading regional growth. 

**【CFO Financial Commentary】**
- Global Components sales $5.6B (up 5% QoQ), with book-to-bill >1 in all regions. 
- ECS sales $2.2B (up 15% YoY), but $21M charge on underperforming multiyear contracts weighed on margins. 
- Non-GAAP operating income $217M (2.8% of sales), with $3.5B returned to shareholders via buybacks since 2020. 
- Q4 guidance: $7.8-8.4B revenue (11% YoY midpoint), $3.44-3.64 EPS. 

**【Q&A Key Highlights】**
- **Charge Explanation**: $21M ECS charge due to underperformance of strategic outsourcing contracts, but long-term margin accretion expected. 
- **Regional Recovery**: APAC outperforming Americas/EMEA, but mass-market destocking creating margin headwinds. 
- **AI Investment**: Supply chain services for hyperscalers building AI infrastructure driving margin expansion. 
- **CEO Transition**: Bill Austen not pursuing permanent CEO role; search ongoing. 
- **Cash Flow**: Q3 operating cash use $282M, inventory turns improving despite $4.7B stockpile. 


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