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Oct 01, 2022
Plexus Q4 2022 Earnings Report
Reported record revenue and exceeded guidance, driven by mitigating supply chain challenges.
Key Takeaways
Plexus reported record fiscal fourth quarter revenue of $1.12 billion, a 33% year-over-year growth, with a GAAP operating margin of 5.5% and GAAP EPS of $1.78. The company's success in mitigating supply chain challenges led to strong sequential revenue growth and outstanding profitability.
Achieved record fiscal fourth quarter revenue of $1.12 billion.
GAAP operating margin was 5.5% and GAAP diluted EPS was $1.78, including $0.18 of stock-based compensation expense.
Won 32 manufacturing programs during the quarter representing $214 million in annualized revenue when fully ramped into production.
Trailing four-quarter manufacturing wins totaled $1 billion in annualized revenue when fully ramped into production.
Forward Guidance
Plexus is guiding fiscal first quarter revenue of $1.08 billion to $1.13 billion, GAAP operating margin of 5.0% to 5.5% and GAAP EPS of $1.40 to $1.58. The guidance reflects the benefit from ongoing new program ramps and robust customer demand with consideration given to the continuation of supply chain challenges and macroeconomic uncertainty.
Positive Outlook
- Ongoing new program ramps
- Robust customer demand
Challenges Ahead
- Continuation of supply chain challenges
- Macroeconomic uncertainty
- Impact to GAAP EPS due to the absence of foreign exchange gains
- Greater interest expense relative to the prior quarter
- Greater income tax expense relative to the prior quarter
Historical Earnings Impact
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Avg. Return Before/After Earnings
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