FLEX Q3 Earnings Surpass Estimates, Revenues Decrease Y/Y

Flex Ltd (FLEX) reported third-quarter fiscal 2024 adjusted earnings per share (EPS) of 71 cents, which beat the Zacks Consensus Estimate by 14.5%. The bottom line grew 14.5% year over year.Revenues decreased 8% year over year to $7.1 billion. However, it beat the consensus mark by 5.5%. The downtick was caused by weakness across the Agility and Reliability Solutions segments.Revenues for Core Flex (which represents Flex’s total revenues excluding Flex’s 51.47% economic interest in Nextracker) was $6.4 bill ...