With us on the call today are Mike Long, Chairman, President and Chief Executive Officer; Paul Reilly, Executive Vice President, Finance and Operations and Chief Financial Officer; Andy Bryant, President, Global ECS; and Peter Kong, President, Global Components.
By now, you all should have received a copy of our earnings release. If not, you can access our release on the Investor Relations section of our website, along with the first quarter CFO commentary that should be used as a complement to the earnings press release. You can access a copy of our earnings reconciliation for the first quarter in our press release or on the Investor Relations section of our website.
Before we get started, I would like to review our Safe Harbor statement. Some of the comments to be made on today's call may include forward-looking statements, including statements addressing future financial results. These statements are subject to a number of risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons. Detailed information about these risks is included in Arrow's SEC filings. We will begin with a few minutes of prepared remarks, which will then be followed by a question-and-answer period.
As a reminder to members of the press, you are in a listen-only mode on this call, but please feel free to contact us after today's call with any questions you may have.At this time, I would like to introduce our Chairman, President and CEO, Mike Long. Michael J. Long Thank you, Greer, and thanks to all of you for taking the time to join us today. We executed well in the first quarter, with sales and earnings per share in line with our expectations. Cash flow generation was a bright spot for the first quarter as we generated $250 million in cash flow from operations with contributions from both business segments. We continue to manage the company for long-term growth and continuous improvement, which enables us to outperform the market regardless of the market conditions we operate in. We've also maintained gross margins in what is still a very difficult macro environment. Our return on working capital and return on invested capital continue to be strong.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV