Plexus Q4 2021 Earnings Report
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
Plexus
Plexus
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
- COVID-19