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Jan 02, 2021
Plexus Q1 2021 Earnings Report
Announced fiscal first quarter financial results
Key Takeaways
Plexus reported fiscal first quarter 2021 revenue of $830 million and GAAP diluted EPS of $1.23. The company initiated fiscal second quarter 2021 revenue guidance of $860 to $900 million with GAAP diluted EPS of $1.17 to $1.32.
Won 35 manufacturing programs during the quarter representing $223 million in annualized revenue when fully ramped into production
Trailing four quarter wins total a record $1 billion in annualized revenue when fully ramped into production
Expanded GAAP operating margin to 5.6% through focus on productivity improvements and expense management
Delivered return on invested capital of 16.3%, sequentially improved by 230 basis points
Plexus
Plexus
Forward Guidance
Plexus anticipates a robust fiscal second quarter due to expected increases in medical equipment demand, recent strengthening in our Industrial Sector and sustained operational excellence. The company is guiding revenue of $860 to $900 million and GAAP diluted earnings per share of $1.17 to $1.32.
Positive Outlook
- Expected increases in medical equipment demand
- Recent strengthening in our Industrial Sector
- Sustained operational excellence
- Opportunity to continue to capture potential upside demand that may arise
- History of strong execution
Challenges Ahead
- COVID-19 will not materially impact end markets or our operations beyond what has already occurred
- Long-term visibility into end markets remains limited
- Anticipate revenue relatively consistent with the fiscal second quarter guidance looking to the second half of fiscal 2021
- Operating margin to moderate from the fiscal first quarter result looking to the second half of fiscal 2021
- Assumes that COVID-19 will not materially impact end markets or our operations beyond what has already occurred