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Sep 25, 2020
Flex Q2 2021 Earnings Report
Flex's Q2 fiscal 2021 results were reported, demonstrating solid execution and exceeding previous expectations.
Key Takeaways
Flex reported solid Q2 fiscal 2021 results with net sales of $6.0 billion, GAAP net income of $113 million, and adjusted EPS of $0.36, exceeding previous expectations due to improved demand across various end markets.
Net sales reached $6.0 billion.
GAAP net income was reported at $113 million.
Adjusted operating income totaled $247 million.
Adjusted earnings per share came in at $0.36.
Flex
Flex
Forward Guidance
Flex provided guidance for Q3 fiscal 2021, expecting revenue between $6.0 billion and $6.4 billion and adjusted EPS between $0.34 and $0.40.
Positive Outlook
- Revenue: $6.0 billion to $6.4 billion
- GAAP Income Before Income Taxes: $125 million to 160 million
- Adjusted Operating Income: $235 million to $275 million
- GAAP EPS: $0.21 to $0.27
- Adjusted EPS: $0.34 to $0.40
Challenges Ahead
- GAAP EPS includes $0.08 for stock-based compensation expense and net intangible amortization.
- GAAP EPS includes $0.05 for estimated restructuring and other charges.
- Uncertainty in macroeconomic environment.
- Potential impact of component shortages on revenues.
- Geopolitical risks including changes in international trade agreements and policies.