Plexus Corp. (NASDAQ: PLXS) – Plexus Beats Third Quarter Earnings, Releases Fourth Quarter Forecast

  • Plexus Corp (NASDAQ: PLXS) reported a 5% year-on-year decline in third-quarter income to $ 814 million, lacking the analyst consensus of $ 840.9 million.
  • Americas income grew 4.2% year-on-year to $ 319 million, Asia-Pacific decreased 7.3% to $ 447 million, and Europe, Center East and Africa fell 17.4% to $ 76 million.
  • Trade market sector income fell 3.6% year-on-year to $ 372 million, healthcare / life sciences fell 1.8% to $ 324 million, and aerospace / protection fell 16.3% to $ 118 million.
  • Gross margin contracted by 60 foundation factors to 9.1% and working margin by 80 foundation factors to 4.5%.
  • Adjusted EPS of $ 0.99 broke analyst consensus by $ 0.97.
  • Plexus held $ 307.5 million in money and money equivalents and generated $ 42.7 million in working money circulate.
  • It repurchased shares for $ 27.3 million within the third quarter.
  • Plexus gained 31 new manufacturing applications representing $ 275 million in annualized income when it was totally put into manufacturing, CEO Todd Kelsey stated. Final quarter earnings elevated from the earlier quarter to $ 1.1 billion.
  • Outlook: Plexus sees fourth-quarter income of $ 875-915 million in opposition to analyst consensus of $ 903.2 million.
  • He sees an working margin in This autumn of between 4.8% and 5.2%.
  • Fourth quarter GAAP EPS forecast is $ 1.13 to $ 1.29, in comparison with an analyst consensus of $ 1.27.
  • Value motion: PLXS shares closed up 2.52% at $ 87.58 on Wednesday.

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