Loading...
•
Dec 31, 2023
Flex Q3 2024 Earnings Report
Flex reported strong execution in the third quarter of fiscal year 2024.
Key Takeaways
Flex announced its Q3 fiscal year 2024 results, with net sales of $7.1 billion and GAAP operating income of $348 million. The company continues to deliver on its commitments and is well-positioned in markets with strong, long-term secular drivers.
Net sales were $7.1 billion.
GAAP operating income was $348 million.
GAAP net income attributable to Flex Ltd was $197 million.
GAAP earnings per share was $0.45.
Flex
Flex
Forward Guidance
Fourth quarter FY24 guidance excludes Flex’s 51.47% economic interest in Nextracker, which reflects the January 2, 2024 spin-off of all of Flex's remaining interest in Nextracker.
Positive Outlook
- Revenue: $5.8 billion to $6.4 billion
- GAAP Operating Income: $252 million to $302 million
- Adjusted Operating Income: $305 million to $355 million
- GAAP EPS: $0.38 to $0.48
- Adjusted EPS: $0.50 to $0.60 which excludes $0.07 for stock-based compensation expense, $0.03 for net intangible amortization, and $0.02 for net restructuring charges.