Workflow
Factors to Note Ahead of Plexus (PLXS) Q3 Earnings Release
PlexusPlexus(US:PLXS) ZACKSยท2024-07-22 15:46

Company Performance - The Zacks Consensus Estimate for Plexus Corp's fiscal third-quarter revenues is $979.9 million, indicating a decline of 4.1% from the previous year [1] - The company projects revenues for fiscal third-quarter 2024 to be between $960 million and $1 billion, with non-GAAP EPS expected in the range of $1.22 to $1.37 [2] Sector Analysis - Plexus is likely to benefit from strong demand in the aerospace and defense market, with expected sequential revenue growth in this sector by a high single digit percentage [3] - The Healthcare/Life Sciences sector is anticipated to have flat revenues due to near-term demand weakness and inventory corrections [4] - The Industrial sector is also expected to report flat revenues, impacted by inventory corrections that offset gains in semiconductor capital and broadband communications sectors [14] Market Conditions - The company faces headwinds from global macroeconomic uncertainty, geopolitical instability, and volatile supply-chain issues, along with customer concentration risks and stiff competition [5] Earnings Prediction - Current models do not predict an earnings beat for Plexus, as it has an Earnings ESP of 0.00% and a Zacks Rank of 5 (Strong Sell) [15]