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Sep 30, 2022

Flex Q2 2023 Earnings Report

Flex's financial performance was solid, driven by growth from a diverse customer portfolio and a record adjusted EPS.

Key Takeaways

Flex reported net sales of $7.8 billion and GAAP operating income of $325 million for the second quarter of fiscal year 2023. Adjusted EPS reached a record $0.63.

Net sales reached $7.8 billion.

GAAP operating income was $325 million.

Adjusted operating income was $375 million.

GAAP earnings per share was $0.50.

Total Revenue
$7.77B
Previous year: $6.23B
+24.7%
EPS
$0.63
Previous year: $0.48
+31.3%
Gross Profit
$591M
Previous year: $465M
+27.1%
Cash and Equivalents
$2.45B
Previous year: $2.46B
-0.2%
Free Cash Flow
-$86M
Previous year: $88M
-197.7%
Total Assets
$20.6B
Previous year: $16.7B
+23.4%

Flex

Flex

Forward Guidance

Flex provided guidance for the third quarter of fiscal year 2023, including revenue between $7.3 billion and $7.7 billion, GAAP EPS between $0.46 and $0.52, and adjusted EPS between $0.57 and $0.63.