Loading...
•
Jul 04, 2020
Plexus Q3 2020 Earnings Report
Announced fiscal third quarter financial results
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
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.