Plexus Q2 2023 Earnings Report
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
Plexus Revenue by Segment
Plexus Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income