Loading...
•
Jun 30, 2023
Flex Q1 2024 Earnings Report
Flex's first quarter of fiscal year 2024 results were announced, demonstrating the strength of its diverse portfolio.
Key Takeaways
Flex reported net sales of $7.3 billion, GAAP operating income of $291 million, and GAAP net income attributable to Flex Ltd of $186 million for the first quarter ended June 30, 2023.
Net sales reached $7.3 billion.
GAAP operating income was $291 million.
Adjusted operating income amounted to $377 million.
GAAP earnings per share were $0.41.
Forward Guidance
Flex provided guidance for the second quarter of fiscal year 2024 and updated its fiscal year 2024 guidance.
Positive Outlook
- Revenue is expected to be between $7.3 billion and $7.7 billion for Q2 2024.
- GAAP operating income is projected to be between $316 million and $346 million for Q2 2024.
- Adjusted operating income is anticipated to be between $370 million and $400 million for Q2 2024.
- GAAP EPS is forecasted to be between $0.44 and $0.49 for Q2 2024.
- Adjusted EPS is expected to be between $0.55 and $0.60 for Q2 2024.
Challenges Ahead
- Revenue is expected to be between $30.5 billion and $31.5 billion for fiscal year 2024.
- GAAP EPS is projected to be between $1.87 and $2.07 for fiscal year 2024.
- Adjusted EPS is anticipated to be between $2.35 and $2.55 for fiscal year 2024.
- Q2 2024 Adjusted EPS includes $0.08 for stock-based compensation expense.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...