Plexus(US:PLXS)2021-01-22 14:28Financial Performance & Guidance - Plexus reported Q1F21 revenue of $830 million, within the guidance range of $810 to $850 million[9] - GAAP diluted EPS for Q1F21 was $1.23, exceeding the guidance range of $1.02 to $1.17[9] - The company is guiding for Q2F21 revenue between $860 million and $900 million, and GAAP diluted EPS between $1.17 and $1.32[13] - The company anticipates the second half of fiscal year 2021 quarterly revenue to be flat compared to Q2[14] - Q1F21 GAAP operating margin was 5.6%, which is above the company's target range[9, 42] Wins & Funnel - Manufacturing wins for Q1F21 totaled $223 million[11, 17] - The company added six new logos in Q1F21[11] - Trailing Four Quarters (TFQ) wins exceeded $1.01 billion, reaching an all-time high[11, 18] - The manufacturing funnel expanded to $3.3 billion, an increase of nearly $600 million and a record for the company[11, 35] Sector Performance - Industrial sector revenue for Q1F21 was $378 million, representing 46% of total revenue, a 12% decrease compared to Q4F20[15] - Healthcare and Life Sciences (HC/LS) sector revenue was $319 million, accounting for 38% of total revenue, a 7% decrease compared to Q4F20[15] - Aerospace and Defense (A/D) sector revenue was $133 million, making up 16% of total revenue, a 6% decrease compared to Q4F20[15] Cash Flow & Balance Sheet - Free cash flow for Q1F21 was negative $9 million[44] - The company repurchased approximately 307,000 shares for $22.8 million at an average price of $74.16 per share[44] - The cash balance was $357 million, a sequential decrease of $31 million[44] - Return on invested capital was 16.3%, which is 820 basis points above the fiscal year 2021 WACC of 8.1%[44]