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Apr 02, 2022
Plexus Q2 2022 Earnings Report
Announced fiscal second quarter results, exceeding revenue and EPS guidance.
Key Takeaways
Plexus reported fiscal second quarter revenue of $889 million and GAAP EPS of $0.95, both exceeding the company's guidance range. The company also initiated fiscal third quarter revenue guidance of $885 to $925 million with GAAP diluted EPS of $1.02 to $1.18.
Reports fiscal second quarter revenue of $889 million, GAAP operating margin of 4.0% and GAAP diluted EPS of $0.95, including $0.21 of stock-based compensation expense
Initiates fiscal third quarter revenue guidance of $885 to $925 million with GAAP diluted EPS of $1.02 to $1.18, including $0.21 of stock-based compensation expense
Won 38 manufacturing programs during the quarter representing $313 million in annualized revenue when fully ramped into production
Trailing four quarter manufacturing wins exceed $1.1 billion in annualized revenue when fully ramped into production
Plexus
Plexus
Forward Guidance
We are guiding fiscal third quarter revenue of $885 to $925 million, which reflects the benefits of ongoing strong customer demand and new program ramps as well as the challenges created by continued supply chain constraints. We anticipate the revenue ramp will further leverage an operating cost structure built to support much greater levels of customer demand, resulting in expanded GAAP operating margin of 4.4% to 4.9% and GAAP EPS of $1.02 to $1.18.
Positive Outlook
- Ongoing strong customer demand
- New program ramps
- Potential to deliver quarterly sequential revenue growth through fiscal 2022
- Potential to deliver quarterly sequential revenue growth into fiscal 2023
- Expansion in GAAP operating margin and EPS
Challenges Ahead
- Challenges created by continued supply chain constraints