Husqvarna to enhance supply chain flexibility and efficiency and speed time to market Flex expands portfolio into outdoor and power equipment Partnership strengthens Husqvarna and Flex's competitiveness in the U.S.CHARLOTTE, N.C. and AUSTIN, Texas, Feb. 4, 2025 /PRNewswire/ -- Today, Husqvarna (NASDAQ: HSQVY) and Flex (NASDAQ: FLEX) announced a strategic manufacturing partnership, which will enable Husqvarna to further enhance flexibility, efficiency, and time to market through Flex's strategic supply cha ...

HAMILTON, Bermuda, Feb. 4, 2025 /PRNewswire/ -- Please find enclosed the presentation of Flex LNG Ltd.'s fourth quarter 2024 results which will be presented in a live video webcast today at 15:00 CET (09:00 a.m. EST).In order to watch the webcast, use the following link:Fourth Quarter 2024 Earnings PresentationA Q&A session will be held after the webcast. Information on how to submit questions will be given at the beginning of the session.In conjunction with the quarterly results, we have published a short ...

HAMILTON, Bermuda, Feb. 4, 2025 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the three months and year ended December 31, 2024.Highlights: Vessel operating revenues of $90.9 million for the fourth quarter 2024, compared to $90.5 million for the third quarter 2024. The fourth quarter 2024 include $1.4 million in EU ETS revenue. An equivalent amount has been recorded under Voyage Expenses for the period. Net income of $45.2 million and basic e ...

HAMILTON, Bermuda, Feb. 4, 2025 /PRNewswire/ -- Key information relating to the cash distribution to be paid by Flex LNG Ltd. ("Company") for the fourth quarter 2024. The distribution will be made from the Company's Contributed Surplus Account.Please note that from May 28, 2024, the standard settlement cycle for transactions executed in securities traded on the New York Stock Exchange ("NYSE") will be shortened from T+2 to T+1 (of which T equals trading date), while the Oslo Stock Exchange ("OSE") will cont ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to FLEX LTD. (Exact name of registrant as specified in its charter) 2 Changi South Lane, Singapore 486123 (Address of principal executive ...

Core Viewpoint - Flex Ltd. reported strong third-quarter fiscal 2025 results, with adjusted earnings per share (EPS) of 77 cents, exceeding estimates by 20.3% and improving from 54 cents in the prior-year quarter [1][2]. Financial Performance - Revenues increased by 2.1% year over year to $6.6 billion, surpassing the consensus estimate by 5.5%, driven by strong demand in data center, medical device, and consumer-focused portfolios [2]. - Non-GAAP gross margin expanded by 150 basis points to 9.3%, while non-GAAP operating income rose to $399 million from $314 million in the previous year [5]. - The company generated cash flow from operating activities of $413 million and adjusted free cash flow of $306 million in the quarter [9]. Segment Performance - The Flex Reliability Solutions Group, which includes Health Solutions, Automotive, and Industrial businesses, maintained stable revenues at $3 billion, with strength in power and medical devices offsetting automotive sector challenges [3]. - The Flex Agility Solutions Group saw revenues increase by 4% to $3.6 billion, driven by robust cloud and consumer-related markets [4]. Outlook - For the fourth quarter of fiscal 2025, Flex expects revenues between $6 billion and $6.4 billion and adjusted earnings of 65-73 cents per share [10]. - The company anticipates full fiscal 2025 revenues between $25.4 billion and $25.8 billion, up from earlier projections of $24.9-$25.5 billion [11]. - Adjusted earnings for fiscal 2025 are now expected to be in the range of $2.57-$2.65 per share, an increase from previous estimates [12]. Shareholder Actions - In the quarter, Flex repurchased $200 million worth of stock, totaling nearly 5.5 million shares, with cumulative repurchases amounting to $950 million as of December 31, 2024 [9].

Q3 FY25 Earnings Presentation Risks and non-GAAP disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including statements related to our future financial results and our guidance for future financial performance (including expected revenues, operating income, margins and earnings per share). These forward-looking statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause the actual outco ...

Group 1 - Flex reported quarterly earnings of $0.77 per share, exceeding the Zacks Consensus Estimate of $0.64 per share, and up from $0.71 per share a year ago, representing an earnings surprise of 20.31% [1] - The company achieved revenues of $6.56 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 5.55%, although this is a decrease from year-ago revenues of $7.1 billion [2] - Flex has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] Group 2 - The stock has gained approximately 5.7% since the beginning of the year, outperforming the S&P 500's gain of 3.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.67 on revenues of $6.33 billion, and for the current fiscal year, it is $2.45 on revenues of $25.25 billion [7] - The Electronics - Miscellaneous Products industry, to which Flex belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Cash and Cash Equivalents - Cash and cash equivalents increased from $2,313 million to $2,474 million as of March 31, 2024[26] Net Income - Net income for the nine-month period ended December 31, 2024 was $616 million, compared to $850 million in the same period in 2023[27] Operating Activities - Net cash provided by operating activities for the nine-month period ended December 31, 2024 was $1,072 million, up from $647 million in the same period in 2023[27] Restructuring Charges - The company recognized $54 million in restructuring charges for the nine-month period ended December 31, 2024, primarily related to employee severance[33] Asset Recoveries - Customer-related asset recoveries of $2 million were recognized during the nine-month period ended December 31, 2024[34] Asset Impairment and Loss Contingencies - The company accrued $5 million for asset impairment and $3 million for loss contingencies during the first three quarters of fiscal year 2025[35] Tax Benefits - A net tax benefit of $50 million was recognized for the nine-month period ended December 31, 2024, including $26 million in interest recoverable on prior periods taxes paid by a Brazilian subsidiary[37] Total Assets and Liabilities - Total assets remained relatively stable at $18,272 million as of December 31, 2024, compared to $18,257 million as of March 31, 2024[26] - Total liabilities decreased from $13,280 million as of December 31, 2024 to $12,932 million as of March 31, 2024[26] Investing Activities - Net cash used in investing activities for the nine-month period ended December 31, 2024 was $641 million, primarily due to $347 million spent on acquisitions and $326 million on property and equipment purchases[27]

AUSTIN, Texas, Jan. 29, 2025 /PRNewswire/ -- Flex (NASDAQ: FLEX) today announced results for its third quarter ended December 31, 2024. Third Quarter Fiscal Year 2025 Highlights: Net Sales: $6.6 billion GAAP Operating Income: $334 million Adjusted Operating Income: $399 million GAAP Net Income attributable to Flex Ltd: $263 million Adjusted Net Income attributable to Flex Ltd: $304 million GAAP Earnings Per Share: $0.67 Adjusted Earnings Per Share: $0.77 An explanation and reconciliation of non-GAAP finan ...