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Jul 01, 2023
Plexus Q3 2023 Earnings Report
Plexus reported solid Q3 2023 results with revenue of $1.02 billion and non-GAAP EPS of $1.32.
Key Takeaways
Plexus announced its fiscal third quarter results, reporting revenue of $1.02 billion, a GAAP operating margin of 2.8%, and a GAAP diluted EPS of $0.56. The company's non-GAAP operating margin was 5.0% and non-GAAP diluted EPS was $1.32. They also initiated fiscal fourth quarter 2023 revenue guidance of $1.00 billion to $1.04 billion with GAAP diluted EPS of $1.18 to $1.36.
Plexus reported fiscal third quarter revenue of $1.02 billion.
GAAP operating margin was 2.8% and GAAP diluted EPS was $0.56, including restructuring and other charges and stock-based compensation expense.
Non-GAAP operating margin was 5.0% and non-GAAP diluted EPS was $1.32, including stock-based compensation expense.
The company won 30 manufacturing programs during the quarter, representing a record $321 million in annualized revenue when fully ramped into production.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Plexus is guiding fiscal fourth quarter revenue of $1.00 billion to $1.04 billion, GAAP operating margin of 4.7% to 5.2% and GAAP EPS of $1.18 to $1.36.
Positive Outlook
- Increasingly robust commercial aerospace demand.
- Continued new program ramps.
- Plexus' best in class capabilities.
- Focus on operational excellence are resonating with customers.
- Accelerating program wins position Plexus to continue to deliver industry leading revenue growth and profitability.
Challenges Ahead
- Incrementally weaker demand for semiconductor capital equipment.
- Modest softening in some industrial markets.
- Continued supply chain challenges.
- Effect of inflationary pressures on our costs of production, profitability, and on the economic outlook of our markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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