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Apr 04, 2020
Plexus Q2 2020 Earnings Report
Plexus' fiscal second quarter earnings were announced, revealing revenue of $767 million and a GAAP diluted EPS of $0.43.
Key Takeaways
Plexus reported fiscal second quarter revenue of $767 million and GAAP diluted EPS of $0.43. The results were impacted by the COVID-19 outbreak, but the company mitigated the challenges. The company is dedicated to the health and safety of its team members and continues to invest in policies and protocols to operate in the safest manner possible.
Achieved fiscal second quarter revenue of $767 million.
GAAP diluted EPS was $0.43.
Non-GAAP adjusted diluted EPS was $0.61, excluding $0.18 due to the previously announced closure of our Boulder Design Center.
Won 36 manufacturing programs during the quarter representing $248 million in annualized revenue when fully ramped into production.
Plexus
Plexus
Forward Guidance
For the fiscal third quarter, the company expects revenue in the range of $790 to $830 million and GAAP diluted EPS of $0.72 to $0.82.
Positive Outlook
- Revenue in the range of $790 to $830 million is expected.
- GAAP diluted EPS of $0.72 to $0.82 is anticipated.
- Known constraints on the global supply chain have been taken into consideration.
- Workforce challenges have been considered.
- Potential operational inefficiencies that could occur due to COVID-19 have been taken into account.
Challenges Ahead
- Guidance assumes no large scale closures of facilities, or those of suppliers or customers, due to COVID-19.
- Guidance assumes that the COVID-19 outbreak will not materially impact end markets beyond what has already occurred.
- Potential negative material changes to revenue and EPS expectations may occur within the quarter.
- The evolving effect of COVID-19 may intensify on employees, customers, suppliers, and logistics providers.
- Governmental actions being taken to curtail the spread of the virus may have an impact.