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Plexus
🇺🇸 NASDAQ:PLXS
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•
Oct 03, 2020

Plexus Q4 2020 Earnings Report

Achieved record revenue and GAAP diluted earnings per share, both exceeding the top end of guidance ranges.

Key Takeaways

Plexus announced record fiscal fourth quarter revenue of $913 million and GAAP diluted EPS of $1.26, exceeding guidance. Strong demand in the Healthcare/Life Sciences and Industrial/Commercial sectors fueled growth. Free cash flow for the quarter was $109 million, and the company exited the year with record free cash flow of $160 million.

Record fiscal fourth quarter revenue of $913 million.

GAAP diluted EPS of $1.26, including $0.23 of stock based compensation expense.

Won 44 manufacturing programs during the quarter representing $286 million in annualized revenue when fully ramped into production.

Generated $109 million in free cash flow during the fiscal fourth quarter.

Total Revenue
$913M
Previous year: $810M
+12.7%
EPS
$1.26
Previous year: $0.93
+35.5%
Economic Return
5.2%
Gross Profit
$89.2M
Previous year: $77.8M
+14.7%
Cash and Equivalents
$386M
Previous year: $224M
+72.4%
Free Cash Flow
$109M
Previous year: $92.3M
+18.0%
Total Assets
$2.29B
Previous year: $2B
+14.4%

Plexus

Plexus

Plexus Revenue by Segment

Forward Guidance

Plexus expects demand to moderate in the fiscal first quarter of 2021 and is guiding revenue in the range of $810 to $850 million. The company projects continued operating strength and is guiding GAAP operating margin for the quarter in the range of 4.9% to 5.3%. With this strong operating performance, Plexus anticipates delivering GAAP diluted earnings per share of $1.02 to $1.17 for the fiscal first quarter.

Positive Outlook

  • Revenue guidance of $810 to $850 million for fiscal first quarter 2021.
  • GAAP operating margin guidance of 4.9% to 5.3% for fiscal first quarter 2021.
  • GAAP diluted earnings per share guidance of $1.02 to $1.17 for fiscal first quarter 2021.
  • Expect a return to quarterly sequential revenue growth by the second half of fiscal 2021.
  • Anticipate robust operating performance for the fiscal year.

Challenges Ahead

  • Demand is expected to moderate in the fiscal first quarter of 2021.
  • Guidance assumes that COVID-19 will not materially impact end markets or operations beyond what has already occurred.
  • Includes stock-based compensation expense of $0.19 for Q1F21 guidance.
  • Unspecified risks related to evolving effect of COVID-19 on employees, customers, suppliers and logistics providers.
  • Unspecified risks related to governmental actions being taken to curtail the spread of the virus.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Plexus