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Arrow Electronics' 2024 10-K reveals sales of $27.9 billion, down 15.7% due to semiconductor inventory overhang, with Global Components dropping 21% while ECS grew 3%. Gross margins slipped to 11.8%, but operating cash flow surged to $1.1 billion. Liquidity exceeds $3 billion, supporting repurchases and efficiency plans targeting $90-100 million savings by 2026. Risks include cycles, supply disruptions, and geopolitics, mitigated by hedging and diversification.

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