We expect electronic component distributor Arrow Electronics Inc. ARW to beat expectations when it reports first-quarter 2016 results on May 3. Last quarter, the company posted a positive earnings surprise of 6.59%. Notably, the company has surpassed the Zacks Consensus Estimate thrice in the preceding four quarters with an average positive surprise of 1.32%Why a Likely Positive Surprise?Our proven model shows that Arrow Electronics is likely to beat earnings because it has the right combination of two key ingredients.Zacks ESP: The Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, is +1.42%. This is very meaningful and a leading indicator of a likely positive earnings surprise for the company.Zacks Rank: Arrow Electronics carries a Zacks Rank #2 (Buy). Note that stocks with a Zacks Rank #1 (Strong Buy), #2 or #3 (Hold) have a significantly higher chance of beating earnings. Sell-rated stocks (#4 or #5), on the other hand, should never be considered going into an earnings announcement, especially when the company is witnessing negative estimate revisions.The combination of Arrow Electronics’ Zacks Rank #2 and +1.42% ESP makes us reasonably confident of an earnings beat on May 3.The stock closed at $62.10 last Friday. We expect earnings beat in the first quarter to positively influence the stock price.What is Driving the Better-than-Expected Earnings?Arrow Electronics’ strong distribution channels are being preferred by original equipment manufacturers, contract manufacturers and commercial customers for marketing. The company’s core strength in providing best-in-class services and easy-to-acquire technologies will act as growth catalysts in the to-be reported quarter.Moreover, the company has secured a significant market share through a broad portfolio of products and services, and continued efforts to maximize consumer satisfaction. Additionally, incremental sales from strategic acquisitions are expected to boost Arrow’s top line in the to-be-reported quarter. Notably, the company acquired four businesses in 2015, namely ATM Electronic Corporation, immixGroup Inc., RDC and Data Modul AG.Additionally, during fourth-quarter 2015 earnings results, Arrow Electronics provided an encouraging guidance, which makes us more optimistic about the company’s first quarter performance.Stocks to ConsiderHere are some other companies, which you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:Synopsys Inc. SNPS, with an Earnings ESP of +6.38% and a Zacks Rank #1.Fitbit Inc. FIT, with an Earnings ESP of +175.00% and a Zacks Rank #2.Benefitfocus Inc. BNFT, with an Earnings ESP of +4.00% and a Zacks Rank #2.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SYNOPSYS INC (SNPS): Free Stock Analysis Report ARROW ELECTRONI (ARW): Free Stock Analysis Report BENEFITFOCUS (BNFT): Free Stock Analysis Report FITBIT INC (FIT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research