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Mar 31, 2023
Flex Q4 2023 Earnings Report
Flex reported strong Q4 and Fiscal Year 2023 results, demonstrating revenue growth and progress towards strategic goals.
Key Takeaways
Flex announced its Q4 and Fiscal Year 2023 results, with Q4 net sales reaching $7.5 billion and GAAP EPS at $0.31. The company's performance reflects its ability to navigate the current environment and advance its long-term strategic objectives.
Net sales for Q4 reached $7.5 billion.
GAAP operating income was $266 million.
GAAP net income attributable to Flex Ltd. was $142 million.
Adjusted EPS was $0.57, including a $0.03 impact from Nextracker IPO noncontrolling interest expense.
Flex
Flex
Forward Guidance
For the first quarter of fiscal year 2024, Flex projects revenue between $7.0 billion and $7.5 billion, GAAP EPS between $0.35 and $0.41, and adjusted EPS between $0.47 and $0.53. For fiscal year 2024, the company anticipates revenue between $30.5 billion and $31.5 billion, and GAAP EPS between $1.90 and $2.10.
Positive Outlook
- Revenue: $7.0 billion to $7.5 billion
- GAAP Operating Income: $258 million to $288 million
- Adjusted Operating Income: $320 million to $350 million
- GAAP EPS: $0.35 to $0.41
- Adjusted EPS: $0.47 to $0.53