Plexus Corp.'s stock plummeted 11.73% in the pre-market session on Thursday, following the company's disappointing outlook for fiscal year 2025 that missed analyst expectations.
While Plexus reported better-than-expected earnings for the first quarter of fiscal 2025, with adjusted EPS of $1.73 beating the consensus estimate of $1.59, the company's guidance for the second quarter and full year fell short of Wall Street projections.
For the second quarter, Plexus forecasted adjusted earnings of $1.46 to $1.61 per share and revenue of $960 million to $1 billion, lower than analysts' expectations of $1.60 adjusted EPS and $1.02 billion revenue. The company also reported weakness in the Healthcare/Life Sciences and Aerospace/Defense sectors, which impacted its first-quarter revenue.
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