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Oct 02, 2021
Plexus Q4 2021 Earnings Report
Announced financial results for the fiscal fourth quarter and fiscal year ended October 2, 2021.
Key Takeaways
Plexus Corp. reported Q4 revenue of $843 million and GAAP diluted EPS of $1.16. The company won 38 manufacturing programs during the quarter, representing $251 million in annualized revenue when fully ramped into production. Supply chain shortages and workforce absences resulting from the pandemic impacted revenue.
Fiscal fourth quarter revenue of $843 million, GAAP operating margin of 5.0% and GAAP diluted EPS of $1.16, including $0.23 of stock-based compensation expense
Trailing four quarter wins total $1.0 billion in annualized revenue when fully ramped into production
Purchased $29.3 million of shares at an average price of $88.39 per share under share repurchase programs
Exited fiscal 2021 with trailing four-quarter wins of $1.03 billion, an increase of 8% year-over-year
Forward Guidance
Plexus is guiding fiscal first quarter revenue of $825 to $865 million, GAAP operating margin of 4.6% to 5.0% and GAAP diluted EPS of $1.01 to $1.17. Guidance assumes supply chain constraints and COVID-19 do not further materially impact end markets or operations.
Positive Outlook
- Customer demand remains robust as a result of improved end markets
- New program wins
- Participation in secular growth markets
- Continued solid operating performance
- Achieve quarterly sequential revenue growth
Challenges Ahead
- Constrained component market
- Supply chain constraints are a limiting factor in our ability to fulfill all the available demand
- COVID-19, including potential vaccination and testing mandates
- Supply chain constraints
Historical Earnings Impact
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Avg. Return Before/After Earnings
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