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Jun 29, 2024
Plexus Q3 2024 Earnings Report
Reported fiscal third quarter results with revenue within guidance and non-GAAP operating margin and EPS exceeding guidance.
Key Takeaways
Plexus Corp. announced its fiscal third quarter 2024 financial results, with revenue of $961 million. Non-GAAP operating margin and non-GAAP EPS were 5.8% and $1.45, respectively, exceeding guidance. The company also generated free cash flow of $114 million.
Revenue of $961 million was within the guidance range.
Non-GAAP operating margin of 5.8% and non-GAAP EPS of $1.45 exceeded guidance.
Free cash flow of $114 million was generated.
Won 35 manufacturing programs during the quarter representing $279 million in annualized revenue.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Plexus is guiding fiscal fourth quarter revenue of $990 million to $1.03 billion, non-GAAP operating margin of 5.6% to 6.0% and non-GAAP EPS of $1.50 to $1.65.
Positive Outlook
- Witnessing signs of strengthening demand across each of our market sectors.
- Share gains and new program ramps further bolstering our ongoing and continued expectations for revenue growth.
- Anticipate delivering a strong finish to our fiscal 2024, with sequential expansion in revenue.
- Anticipate robust operating margin performance and sequential growth in EPS.
- Expect sustained revenue growth momentum into fiscal 2025.
Challenges Ahead
- Includes $0.36 of stock-based compensation expense in Q4F24 GAAP diluted EPS guidance.
- The company has $19.5 million available under the existing $50.0 million authorization for share repurchases.
- Potential effects of jurisdictional results on our taxes, tax rates, and our ability to use deferred tax assets and net operating losses.
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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