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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.
Revenue by Segment
Revenue by Geographic Location
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.
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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