Flex(US:FLEX)2025-05-07 12:11Financial Performance - Flex reported fourth quarter net sales of $6.4 billion, an increase from $6.2 billion in the same period last year, representing a growth of approximately 3.7%[17] - The company achieved a GAAP operating income of $305 million for Q4 FY 2025, compared to $159 million in Q4 FY 2024, marking an increase of 92%[17] - Adjusted net income attributable to Flex Ltd. for FY 2025 was $1,055 million, up from $947 million in FY 2024, reflecting a growth of 11.4%[24] - Flex's adjusted earnings per share (EPS) for FY 2025 was $2.65, compared to $2.15 in FY 2024, indicating a year-over-year increase of 23.3%[24] - Flex's GAAP net income for FY 2025 was $838 million, down from $1,006 million in FY 2024, a decrease of 16.7%[18] - The company reported a gross profit of $563 million for Q4 FY 2025, up from $437 million in Q4 FY 2024, representing a growth of 28.8%[17] - Flex's adjusted operating income for Q4 FY 2025 was $396 million, compared to $333 million in Q4 FY 2024, an increase of 18.9%[21] - The company experienced a diluted EPS of $0.57 for Q4 FY 2025, down from $0.93 in Q4 FY 2024, a decline of 38.7%[17] - Flex's total net sales for FY 2025 were $25.8 billion, a decrease from $26.4 billion in FY 2024, reflecting a decline of 2.3%[18] Guidance and Projections - The company provided guidance for FY 2026, projecting net sales between $25.0 billion and $26.8 billion, and adjusted EPS between $2.81 and $3.01[8] Assets and Liabilities - Total assets increased to $18,381 million as of March 31, 2025, compared to $18,257 million as of March 31, 2024, reflecting a growth of 0.68%[26] - Total current liabilities rose to $9,850 million as of March 31, 2025, from $8,539 million in 2024, marking an increase of 15.4%[26] - Long-term debt, net of current portion, decreased to $2,483 million as of March 31, 2025, from $3,261 million in 2024, a reduction of 23.8%[26] Cash Flow and Investments - Net cash provided by operating activities increased to $1,505 million for the twelve-month period ended March 31, 2025, compared to $1,326 million in 2024, an increase of 13.5%[27] - The company reported a net cash used in investing activities of $838 million for the twelve-month period ended March 31, 2025, compared to $492 million in 2024, an increase of 70.3%[27] - Cash and cash equivalents decreased to $2,289 million at the end of the fiscal year 2025 from $2,474 million in 2024, a decline of 7.5%[27] Restructuring and Impairments - The company recognized approximately $84 million in restructuring charges for the twelve-month period ended March 31, 2025, compared to $172 million in 2024, a decrease of 51.8%[33] - The company incurred $4 million in customer-related asset impairments for the twelve-month period ended March 31, 2025, down from $14 million in 2024, a decrease of 71.4%[33] Foreign Exchange Impact - The effect of exchange rates on cash and cash equivalents resulted in a loss of $31 million for the fiscal year 2025, compared to a gain of $2 million in 2024[27]