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Flex(FLEX) - 2025 Q1 - Quarterly Results
2024-07-24 12:10
EXHIBIT 99.1 P R E S S R E L E A S E FLEX REPORTS FIRST QUARTER FISCAL 2025 RESULTS, ANNOUNCES CHIEF FINANCIAL OFFICER TRANSITION Austin, Texas, July 24, 2024 – Flex (NASDAQ: FLEX) today announced results for its first quarter ended June 28, 2024. First Quarter Fiscal Year 2025 Highlights: An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules II and V attached to this press release. "We delivered another solid quarter, including year-over-year ...
Flex(FLEX) - 2024 Q4 - Annual Report
2024-05-17 20:49
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) ...
Flex(FLEX) - 2024 Q4 - Earnings Call Presentation
2024-05-03 13:49
Q4 FY24 Earnings Presentation Quarter End: March 31, 2024 Earnings Announcement: May 1, 2024 Risks and Non-GAAP Disclosures ...
Flex(FLEX) - 2024 Q4 - Earnings Call Transcript
2024-05-03 13:40
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]
Flex(FLEX) - 2024 Q4 - Annual Results
2024-05-01 12:10
EXHIBIT 99.1 P R E S S R E L E A S E FLEX REPORTS FOURTH QUARTER AND FISCAL 2024 RESULTS AND HOSTS INVESTOR AND ANALYST DAY Austin, Texas, May 1, 2024 – Flex (NASDAQ: FLEX) today announced results for its fourth quarter and fiscal year ended March 31, 2024. • Net Sales: $6.2 billion • GAAP Operating Income: $159 million • Adjusted Operating Income: $333 million • GAAP Net Income from continuing operations: $395 million • Adjusted Net Income from continuing operations: $244 million • GAAP Earnings Per Share ...
Flex(FLEX) - 2024 Q3 - Quarterly Report
2024-02-01 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 2 Changi South Lane, Singapore 486123 (Address of registrant's principal executive offices) (Zip Code) (65) 6876-9899 For the quarterly period ended December 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 1 ...
Flex(FLEX) - 2024 Q3 - Earnings Call Transcript
2024-02-01 02:19
Flex Ltd. (NASDAQ:FLEX) Q3 2024 Earnings Conference Call January 31, 2024 4:30 PM ET Company Participants Revathi Advaithi - CEO Paul Lundstrom - CFO David Rubin - VP, IR Conference Call Participants Mark Delaney - Goldman Sachs Matt Sheerin - Stifel Ruplu Bhattacharya - Bank of America Steven Fox - Fox Advisors George Wang - Barclays Operator Good afternoon, and thank you for standing by. Welcome to Flex's Third Quarter Fiscal 2024 Earnings Conference Call. Presently all participants are in a listen-only m ...
Flex(FLEX) - 2024 Q2 - Quarterly Report
2023-10-29 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 29, 2023 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 0-23354 FLEX LTD. (Exact name of registrant as specified in its charter) Singapore Not Applicable (State or ot ...
Flex(FLEX) - 2024 Q2 - Earnings Call Transcript
2023-10-26 01:34
Start Time: 16:30 January 1, 0000 5:14 PM ET Flex Ltd. (NASDAQ:FLEX) Q2 2024 Earnings Conference Call October 25, 2023, 16:30 PM ET Company Participants Revathi Advaithi - CEO Paul Lundstrom - CFO David Rubin - VP, IR Conference Call Participants Matt Sheerin - Stifel Steven Fox - Fox Advisors Ruplu Bhattacharya - Bank of America Samik Chatterjee - JPMorgan George Wang - Barclays Mark Delaney - Goldman Sachs Operator Good afternoon and thank you for standing by. Welcome to Flex’s Second Quarter Fiscal 2024 ...
Flex(FLEX) - 2024 Q2 - Earnings Call Presentation
2023-10-26 01:33
Q2 FY24 Earnings Presentation Quarter End: September 29, 2023 Earnings Announcement: October 25, 2023 Risks, Forward-Looking Statements and non-GAAP Disclaimers This presentation contains forward-looking statements within the meaning of U.S. securities laws, including statements related to our future financial results and our guidance for future financial performance (including expected revenues, operating income, margins and earnings per share). These forward-looking statements are based on current expecta ...