Flex Fiscal Q2 Adjusted Earnings Rise, Net Sales Fall; Fiscal 2025 Guidance Updated

MT Newswires Live

Oct 30, 2024

Flex (FLEX) reported fiscal Q2 adjusted earnings Wednesday of $0.64 per diluted share, up from $0.57 a year earlier.

Analysts polled by Capital IQ expected $0.56.

Net sales for the quarter ended Sept. 27 were $6.55 billion, down from $6.93 billion a year earlier.

Analysts surveyed by Capital IQ expected $6.5 billion.

The electronics manufacturing company said it expects fiscal Q3 adjusted EPS of $0.60 to $0.66 on revenue of $6 billion to $6.4 billion.

Analysts surveyed by Capital IQ expect adjusted EPS of $0.64 on revenue of $6.53 billion.

The company now expects fiscal 2025 adjusted EPS of $2.39 to $2.51 on revenue of $24.9 billion to $25.5 billion, compared with prior guidance for adjusted EPS of $2.30 to $2.50 on revenue of $25.4 billion to $26.4 billion previously.

Analysts polled by Capital IQ expect adjusted EPS of $2.40 on revenue of $25.82 billion.

Flex shares were down 8% in recent premarket activity.

Price: 31.89, Change: -2.78, Percent Change: -8.02

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