Shares of Plexus Corp. (PLXS) plummeted over 7% in after-hours trading on Wednesday, despite the company reporting better-than-expected earnings for its fiscal first quarter of 2025.

The steep decline came after Plexus issued disappointing guidance for the second quarter, citing typical seasonal cost pressures and market sector dynamics. For the fiscal Q2, the electronic manufacturing services company expects revenue between $960 million to $1 billion, with non-GAAP operating margin of 5.3% to 5.7% and non-GAAP earnings per share in the range of $1.46 to $1.61.

In the first quarter, Plexus reported revenue of $976 million, in line with expectations, and non-GAAP operating margin of 6.0%, near the high end of its guidance. The company's non-GAAP earnings per share of $1.73 for the quarter topped analysts' estimates.