"Flex is proud to collaborate with MIT on this important initiative to shape the future of manufacturing." Post this As a founding member of the INM Industry Consortium, Flex will work closely with MIT researchers, educators, and fellow industry leaders to support cutting-edge projects that apply AI, machine automation, and new system-level approaches to manufacturing. "Flex is proud to collaborate with MIT on this important initiative to shape the future of manufacturing," said Cameron Carr, chief strateg ...

HAMILTON, Bermuda, June 5, 2025 /PRNewswire/ -- The shares in Flex LNG Ltd. (Ticker: FLNG) traded on Oslo Stock Exchange ("OSE") and registered with Euronext Securities Oslo will trade ex dividend of USD 0.75 per share as of today, June 5, 2025. The dividend will be paid to shareholders on OSE on or about June 25, 2025.The shares traded on the New York Stock Exchange ("NYSE") will be traded ex dividend of USD 0.75 per share on June 6, 2025. The dividend will be paid to shareholders on NYSE on or about June ...

Flex (FLEX) 2025 Conference June 04, 2025 04:20 PM ET Speaker0 Global Technology Conference. My name is Ruplu Bhattacharya, and I cover EMS companies, electronics manufacturing services companies as part of Bank of America's IT hardware and supply chain equity research team. Today, we have the team from Flex, and I'm honored to have CEO Revathi Advaithi here. Revathi, as you know, has joined the company. I think she joined in 2019, and she's done a phenomenal job on two fronts. One is, like, amazing job on ...

Core Viewpoint - Investors in the Electronics - Miscellaneous Products sector should consider Flex (FLEX) and Garmin (GRMN) for potential value investment opportunities [1] Valuation Metrics - FLEX has a forward P/E ratio of 14.55, while GRMN has a forward P/E of 25.58 [5] - FLEX's PEG ratio is 1.61, compared to GRMN's PEG ratio of 2.29 [5] - FLEX's P/B ratio is 3.24, whereas GRMN's P/B ratio is 4.78 [6] Analyst Outlook - FLEX currently holds a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision activity compared to Garmin, which has a Zacks Rank of 3 (Hold) [3][6] - FLEX's stronger estimate revision activity and more attractive valuation metrics suggest it is the superior option for value investors at this time [7] Value Grades - FLEX has a Value grade of A, while GRMN has a Value grade of D, reflecting the relative attractiveness of their valuations [6]

Core Viewpoint - Flex LNG Ltd. has successfully completed a $175 million JOLCO lease financing for the vessel Flex Courageous, which will enhance its financial position by generating net proceeds of approximately $42 million and reducing the cost of debt by about 1.5% per annum [1][2]. Group 1: Financing Details - The refinancing of Flex Courageous is part of a broader Balance Sheet Optimization Program 3.0, which aims to refinance three vessels and has secured up to 37 years of combined contract backlog [2]. - The company plans to complete the refinancing of Flex Resolute and Flex Constellation in the second half of 2025, expecting to release an additional $120 million in net proceeds [3]. Group 2: Financial Position - As of the end of Q1-2025, Flex LNG reported a cash balance of $410 million, indicating a strong liquidity position supported by substantial charter backlog [4]. - The successful refinancing at attractive terms reflects the company's financial flexibility and the trust from banking partners and lease providers [4].

Flex Ltd. (FLEX) is benefiting from robust demand in its data center, networking and automotive power electronics segments. In the past month, shares have jumped 21.8%, driven by better-than-anticipated results and a robust outlook.Flex reported fourth-quarter fiscal 2025 results, wherein earnings and revenues not only beat the Zacks Consensus Estimate but also grew year over year. Buoyed by this solid performance, Flex issued a positive outlook for fiscal 2026. Strong execution and a favorable product mix ...

Company Overview - Flex Ltd, formerly known as Flextronics International Ltd, is a Singapore-based company with a diverse workforce across 30 countries, providing advanced manufacturing solutions and a wide array of services including design and engineering, component services, rapid prototyping, fulfillment, and circular economy solutions [11]. Investment Ratings - Flex Ltd holds a Zacks Rank of 2 (Buy) and has a VGM Score of A, indicating strong potential for investment [11]. - The company is also highlighted as a top pick for growth investors due to its favorable ratings [12]. Growth Potential - Flex Ltd is forecasted to achieve year-over-year earnings growth of 9.8% for the current fiscal year [12]. - In the last 60 days, four analysts have revised their earnings estimates higher for fiscal 2026, with the Zacks Consensus Estimate increasing by $0.07 to $2.91 per share [12]. - The company has an average earnings surprise of 16.2%, further indicating its strong performance potential [12].

Core Insights - Flex LNG declared an ordinary dividend of $0.75 per share for the quarter, resulting in a trailing twelve-month yield of 12%, supported by $410 million in cash at the end of Q1 2025 [1] - The company reaffirmed full-year 2025 revenue guidance in the range of $340 million to $360 million [1][8] Financial Performance - The balance sheet optimization program aims to unlock an additional $120 million in free cash, with plans for refinancing ships Flex Resolute and Flex Constellation [2] - At the end of Q1 2025, the company held $410 million in cash and has its first scheduled debt maturity in 2028 [2] - The refinancing initiatives are expected to lower the average cost of capital and extend debt maturities, supporting liquidity [3] Risk Management - Flex LNG increased its interest rate swap portfolio to $700 million notional by the end of Q1 2025, providing 70% hedge coverage over the next 24 months [4] - The company added an additional $150 million in swaps, increasing the total to $850 million at a weighted average rate of approximately 3.5% [5] Contractual Strength - As of May 2025, Flex LNG has a minimum contract backlog of 59 vessel-years, potentially rising to 88 years if charter options are exercised [6][7] - This exceptional contractual coverage provides predictability and cushions earnings against short-term spot rate pressure [7] Future Outlook - Management reaffirmed full-year 2025 revenue guidance of $340 million to $360 million, with debt maturities extended and interest costs reduced [8]

Customer Concentration - In fiscal year 2025, the ten largest customers accounted for approximately 44% of net sales, with no single customer exceeding 10% of total sales[17] - Sales to the ten largest customers accounted for approximately 44%, 37%, and 37% of net sales in fiscal years 2025, 2024, and 2023, respectively[85] Global Operations - Flex's global manufacturing footprint includes approximately 100 facilities in around 30 countries, employing approximately 148,000 people, with net sales distribution of 43% in North America, 17% in China, 21% in EMEA, and 19% in other regions[42] - As of March 31, 2025, the global workforce totaled approximately 148,000 employees, with 59,786 in the Americas, 59,754 in Asia, and 28,439 in Europe[51][52] - As of March 31, 2025, the company owns or leases facilities totaling approximately 48.5 million square feet, with 22.7 million square feet owned and 25.8 million square feet leased[200] Strategic Acquisitions and Investments - The company completed strategic acquisitions in fiscal year 2025, including JetCool Technologies and Crown Technical Systems, to enhance capabilities in power and cooling solutions for data centers[13] - The company has completed several acquisitions, including Crown, JetCool, and Anord Mardix, which may require additional equity or debt financing, affecting credit ratings[110] Sustainability and Corporate Responsibility - Flex's commitment to sustainability is reflected in its focus on responsible sourcing and production practices, addressing customer demands for higher standards[19] - The company aims to achieve net zero greenhouse gas emissions by 2040, as part of its sustainability strategy announced in 2022[61][63] - Flex's sustainability framework includes goals to cut operational emissions in half and provide access to mental health services for all employees[62] - The company has received multiple awards for its sustainability efforts, including recognition as one of the World's Most Ethical Companies for three consecutive years[63] - Sustainability practices are increasingly scrutinized, and failure to meet expectations could impose additional costs and harm the company's reputation[180] - The company has established sustainability goals, but evolving standards and stakeholder expectations present risks that could adversely impact business operations[182] Workforce and Talent Management - In fiscal year 2024, employees completed over 5 million hours of training programs, emphasizing the company's commitment to talent development[54] - The Flex Voice survey showed a 92% participation rate among employees, reflecting continued engagement within the workforce[56] - Flex's total rewards package is designed to attract and retain top talent, offering competitive salaries, bonuses, and equity awards[57][58] - The Compensation and People Committee oversees human capital management strategies, including corporate culture and talent retention programs[59][60] - Flex promotes a "zero-injury" culture through health and safety management systems, with specific goals to decrease safety incident rates[53] Supply Chain and Operational Challenges - Rising global uncertainties, including trade issues and labor shortages, are prompting companies to rethink production strategies and seek trusted outsourcing partners[19] - Supply chain disruptions and component shortages have previously led to curtailed production and delays in shipments, adversely affecting operating results[86] - The company has experienced shortages of semiconductor components, impacting production and scheduled shipments to customers[86] - The company’s margins and profitability may be adversely affected by increased costs from supply chain issues and inflationary pressures[86] - The short-term nature of customer commitments complicates production scheduling and resource allocation, affecting operational efficiency[83] - The company is exposed to risks from geopolitical events, which have previously caused supply chain disruptions and increased costs[90] Financial Performance and Risks - The company has faced significant investments in research and development, technology licensing, and facility expansion, which have historically adversely affected profitability[97] - Inflationary increases in raw material and labor costs have negatively impacted margins, particularly during early production ramps due to inefficiencies[98] - The company is subject to various privacy and data protection laws, including GDPR and CCPA, which may increase compliance costs and affect business operations[107] - Financial exposure to troubled customers may adversely affect financial results, including increased provisions for doubtful accounts and inventory write-offs[140] - The market price of the company's ordinary shares is volatile, influenced by factors such as operating results and macro-economic conditions[139] - Global economic conditions, including inflation and geopolitical risks, could negatively impact business operations and financial condition[147] Legal and Regulatory Compliance - The company is subject to various domestic and foreign employment laws, and violations could result in significant damages, impacting net income[179] - The company must protect its intellectual property rights, as claims of infringement could harm its competitive advantage and require significant resources for defense[166] - Compliance with regulatory quality standards for medical devices is critical, as non-compliance could lead to fines, product recalls, and operational shutdowns[177] - The company faces legal and regulatory risks from litigation and regulatory investigations, which may result in substantial damages and disrupt business operations[164] Cybersecurity and Risk Management - Cybersecurity risks are increasing, with sophisticated attempts to breach information systems that could materially disrupt operations[104] - The company maintains a cybersecurity risk management program, integrated into its broader enterprise risk management, to protect critical IT systems[189] - The Chief Information Security Officer (CISO) leads the cybersecurity program, which includes risk assessments and incident response plans[190] - The Audit Committee oversees cybersecurity risks and receives quarterly reports from the CISO on the current threat landscape and ongoing initiatives[195] Market and Competitive Landscape - The company operates in a highly competitive industry, with risks of losing market share if unable to provide competitive products and services[126] - The company faces risks from labor disputes, which could lead to increased labor costs and potential work stoppages affecting operations and financial results[122] - The company is exposed to risks from unforeseen events such as natural disasters and cybersecurity incidents, which could disrupt operations and adversely affect revenue[123]

Core Insights - Flex LNG reported solid financial results for Q1 2025, with revenues of $88.4 million and net income of $18.7 million, translating to earnings per share (EPS) of $0.35 [1][4] - Revenue decreased by $3 million compared to Q4 2024, primarily due to lower earnings from Flex Artemis and the redelivery of Flex Constellation [1][4] - The company has secured a total minimum firm backlog of 59 years, with potential expansion to 88 years through charterers' extension options, providing strong earnings visibility [3] Financial Performance - Vessel operating revenues for Q1 2025 were $88.4 million, down from $90.9 million in Q4 2024 [4] - Net income for Q1 2025 was $18.7 million, compared to $45.2 million in Q4 2024 [4] - Adjusted EBITDA for Q1 2025 was $65.6 million, down from $68.7 million in Q4 2024 [4] Vessel Operations - Flex Constellation was redelivered in March 2025 and is expected to remain in the spot market until a 15-year time charter begins in H1 2026 [1][4] - Flex Artemis will be redelivered in Q3 2025 after a 5-year time charter and will undergo drydocking [2][4] Financing and Refinancing - The company received a credit-approved term sheet for a $175 million sale and leaseback for Flex Courageous [5] - Refinancing processes for Flex Resolute and Flex Constellation have been initiated to improve liquidity and reduce debt costs [5] ESG and Shareholder Actions - The company published its 2024 ESG report, highlighting a Lost Time Injury Frequency (LTIF) of zero [7] - A quarterly dividend of $0.75 per share was declared, amounting to approximately $41 million, with trailing twelve months dividends totaling $3.0 per share [8]