Plexus Q3 2020 Earnings Report
Key Takeaways
Plexus reported record quarterly revenue of $857 million and GAAP diluted EPS of $1.20 for the fiscal third quarter of 2020. The company initiates fiscal fourth quarter 2020 revenue guidance of $850 to $890 million with GAAP diluted EPS guidance of $1.05 to $1.20, excluding unforeseen impacts relating to COVID-19.
Record quarterly revenue of $857 million for the fiscal third quarter of 2020
GAAP diluted EPS of $1.20
GAAP operating margin of 5.3%, the best quarterly margin result in three years
Won 35 manufacturing programs during the quarter representing an expected $252 million in annualized revenue when fully ramped into production
Plexus
Plexus
Plexus Revenue by Segment
Plexus Revenue by Geographic Location
Forward Guidance
Plexus is guiding revenue in the range of $850 to $890 million and GAAP diluted EPS in the range of $1.05 to $1.20 for fiscal fourth quarter.
Positive Outlook
- Aggregate demand is anticipated to remain strong in fiscal fourth quarter.
- Expected sustained solid operating performance.
- Well-positioned with a strong balance sheet.
- Full use of the $350 million credit facility.
- See a path to continued strength in operating performance throughout fiscal 2021.
Challenges Ahead
- Expect continued end market volatility.
- Known constraints with the global supply chain.
- Workforce challenges that could occur due to COVID-19.
- COVID-related demand to moderate in advance of the anticipated benefit of growth from new program ramps later in the year.
- Guidance assumes no large scale closures of facilities due to COVID-19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income