Flex Q4 2023 Earnings Report
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