Company expands services for customers across multiple markets to create additional revenue streams and accelerate sustainability through second life products AUSTIN, Texas, May 31, 2024 /PRNewswire/ -- Flex (NASDAQ: FLEX) announced today it has acquired FreeFlow, a company serving global secondary markets with asset disposition and digital circular economy tracking and reporting capabilities. FreeFlow's B2B digital marketplace platform enables customers to sell surplus and returned inventory while protecti ...

AUSTIN, Texas, May 29, 2024 /PRNewswire/ -- Flex (NASDAQ: FLEX) has announced members of its leadership team will participate in the upcoming investor conference:Bank of America Global Technology Conference 2024Date: Wednesday, June 5, 2024Presentation time: 11:20am CT / 12:20pm ETThe presentation will be available as a live webcast accessible through the Flex Investor Relations website at https://investors.flex.com. An archived replay will be available on the website shortly after the conclusion of the pre ...

HAMILTON, Bermuda, May 23, 2024 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today release its 2023 Annual ESG Report. This is the sixth edition of our ESG report after the inaugural report in 2018 and contains key information about our commitment to the Environment, Social development, and Governance ("ESG") issues.The report has been prepared in accordance with the Sustainability Accounting Standards Board's (SASB) Maritime Transportation Standard (2023) and with reference to the Global Rep ...

HAMILTON, Bermuda, May 23, 2024 /PRNewswire/ -- Key information relating to the cash distribution to be paid by Flex LNG Ltd. ("Company") for the first 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 conti ...

HAMILTON, Bermuda, May 23, 2024 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the three months ended March 31, 2024.Highlights:Vessel operating revenues of $90.2 million for the first quarter 2024, compared to $97.2 million for the fourth quarter 2023.Net income of $33.2 million and basic earnings per share of $0.62 for the first quarter 2024, compared to net income of $19.4 million and basic earnings per share of $0.36 for the fourth quarter ...

HAMILTON, Bermuda, May 23, 2024 /PRNewswire/ -- Please find enclosed the presentation of Flex LNG Ltd.'s first quarter 2024 results which will be presented in a live video webcast today at 15:00 CEST (09:00 a.m. EST).In order to watch the webcast, use the following link:First 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 t ...

Use these links to rapidly review the document TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 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 Commission file number 000-23354 FLEX LTD. (Exact name of registrant as specified in its charter) ...

Zacks Investment Research has recently initiated coverage of Omega Flex, Inc. (OFLX) , a key player in the flexible metal hose manufacturing industry. The firm has assigned a "Neutral" rating to the stock, reflecting a balanced outlook based on its comprehensive analysis of the company’s prospects and challenges in the evolving construction and infrastructure sectors.Omega Flex, headquartered in Pennsylvania, stands poised to benefit from the burgeoning global construction market, driven by increasing urban ...

Q4 FY24 Earnings Presentation Quarter End: March 31, 2024 Earnings Announcement: May 1, 2024 Risks and Non-GAAP Disclosures ...

Financial Data and Key Metrics Changes - Total revenue for Q4 was $6.2 billion, down 12% year-over-year, while gross profit improved to $532 million with a gross margin of 8.6%, an increase of 160 basis points from the prior year [5][6] - Operating margin reached a record 5.4%, up 120 basis points year-over-year and up 50 basis points from Q3 [5] - Adjusted earnings per share (EPS) for the quarter was $0.57, a 30% increase, while GAAP EPS was $0.93, influenced by a one-time non-cash tax benefit [6][8] Business Line Data and Key Metrics Changes - Reliability segment revenue was $2.9 billion, with strong demand in cloud power solutions and an operating margin of 5.8% [7] - Agility segment revenue was $3.2 billion, driven by AI-driven cloud demand, with operating income increasing 6% to $181 million and a record operating margin of 5.6% [7][10] - For the full year, Reliability revenue was $12.5 billion with an operating margin of 5.3%, while Agility revenue was $13.9 billion with a record operating margin of 4.8% [9][10] Market Data and Key Metrics Changes - Automotive revenue within Reliability was up 6%, driven by new ramps and content growth, while Health Solutions was up 3% despite industry slowdowns [9] - Industrial revenue was down 8%, affected by slowing industrial CapEx and weaker residential solar [10] - Agility segment faced a 7% decline in CEC, with strong new cloud ramps offset by slowing enterprise IT and telco spending [10] Company Strategy and Development Direction - The company focuses on large diverse markets with growth potential, leveraging macro and secular trends to generate profitable growth [15][20] - The strategy includes expanding vertical integration and value-added services, with a strong emphasis on automation and efficiency [22][21] - The company aims for power and compute-based revenue to account for 40% of total revenue by fiscal year 2029 [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating through the current macro cycle, highlighting resilience with margin expansion and EPS growth despite revenue declines [50][61] - The company anticipates revenue for fiscal 2025 to be flat to down 3%, with adjusted operating margins between 5.2% and 5.4% [56] - Long-term growth is expected to be driven by advancements in cloud and automotive sectors, with a focus on power and compute solutions [58][47] Other Important Information - NEXTracker has been reclassified to discontinued operations, providing clearer visibility into core business performance [5][50] - The company returned $1.3 billion to shareholders through stock repurchases in fiscal year 2024, marking a record in annual cash returns [11][54] Q&A Session Summary Question: Success in attracting vertical solutions and aftermarket services to data center rack programs - Management highlighted the unique value proposition in integrating power products with compute, emphasizing growth in vertical integration and aftermarket services [64][65] Question: Margin profile for the expected $8 billion revenue growth from auto and cloud - Management indicated that the margin rates for cloud and automotive are better than Flex's average, driven by the need for power solutions [69][70]