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Apr 01, 2023
Plexus Q2 2023 Earnings Report
Reported fiscal second quarter revenue of $1.07 billion and GAAP diluted EPS of $1.45.
Key Takeaways
Plexus delivered fiscal second quarter revenue of $1.07 billion, representing 21% year over year growth, GAAP operating margin of 5.3% and GAAP EPS of $1.45. The company won 31 new manufacturing programs worth $275 million.
Delivered fiscal second quarter revenue of $1.07 billion, representing 21% year over year growth.
GAAP operating margin of 5.3% and GAAP EPS of $1.45.
Won 31 new manufacturing programs worth $275 million in the fiscal second quarter.
Generated $80 million in free cash flow during the fiscal second quarter.
Plexus
Plexus
Forward Guidance
The company is guiding fiscal third quarter revenue of $1.00 billion to $1.05 billion, non-GAAP operating margin of 4.5% to 5.0% and non-GAAP EPS of $1.05 to $1.23.
Positive Outlook
- Revenue guidance of $1.00 billion to $1.05 billion.
- Non-GAAP operating margin of 4.5% to 5.0%.
- Non-GAAP EPS of $1.05 to $1.23.
- Robust pipeline of future growth opportunities.
- Target of $5 billion in revenue with 5.5% GAAP operating margin by fiscal 2025.
Challenges Ahead
- Impacted by strong late second quarter shipments.
- Supply chain challenges.
- Semiconductor capital equipment market weakness.
- Includes restructuring and other charges of approximately $0.29.
- Planned actions to realign spending to create a more efficient and scalable platform.