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Dec 31, 2022

Flex Q3 2023 Earnings Report

Flex reported strong third quarter fiscal year 2023 results driven by focused efforts and strong execution against healthy demand.

Key Takeaways

Flex announced strong results for its third quarter ended December 31, 2022, with net sales of $7.8 billion and GAAP earnings per share of $0.50.

Net sales were $7.8 billion.

GAAP Operating Income was $321 million.

GAAP Net Income Attributable to Flex Ltd. was $230 million.

GAAP Earnings Per Share was $0.50.

Total Revenue
$7.76B
Previous year: $6.62B
+17.2%
EPS
$0.62
Previous year: $0.5
+24.0%
Gross Profit
$583M
Previous year: $491M
+18.7%
Cash and Equivalents
$2.57B
Previous year: $2.57B
-0.3%
Free Cash Flow
$200M
Previous year: $27M
+640.7%
Total Assets
$20.9B
Previous year: $18.2B
+14.9%

Flex

Flex

Forward Guidance

Flex provided guidance for the fourth quarter of fiscal year 2023, including revenue between $7.0 billion and $7.4 billion, and adjusted EPS between $0.48 and $0.54.