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Jul 02, 2022
Plexus Q3 2022 Earnings Report
Plexus reported record revenue and EPS, exceeding guidance
Key Takeaways
Plexus reported a strong fiscal third quarter with record revenue of $981 million, a 21% year-over-year increase, and GAAP EPS of $1.33, exceeding the guidance range. The company is positioned to deliver $1 billion in quarterly revenue in the fiscal fourth quarter, a first for the company.
Record fiscal third quarter revenue of $981 million was reported.
GAAP operating margin was 5.1% and GAAP diluted EPS was $1.33, including $0.21 of stock-based compensation expense.
47 manufacturing programs were won during the quarter, representing $201 million in annualized revenue when fully ramped into production.
The funnel of qualified manufacturing opportunities held steady at a record $3.4 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Plexus is guiding fiscal fourth quarter revenue of $980 million to $1.020 billion with GAAP diluted EPS of $1.19 to $1.35, including $0.22 of stock-based compensation expense.
Positive Outlook
- Ongoing new program ramps
- Customer demand continues to substantially outpace supply.
- Success of ongoing new program ramps
- Customer demand continues to substantially outpace supply.
- Credit facility was expanded to $500 million.
Challenges Ahead
- Macroeconomic outlook is uncertain
- Challenging supply chain conditions remain
- Incremental investments to support robust customer growth
- Increased incentive compensation expense are modestly pressuring GAAP operating margin
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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