Flex Beats Q2, Lifts Full-Year Outlook Well Above Street
FLEX sits 63% above its 52-week low of $53.07.
Summary
Flex posted fiscal Q2 adjusted EPS of $1.18 versus the $1.06 consensus and sales of $8.49 billion, up 25% and ahead of the $8.17 billion expected. The bigger driver was guidance: full-year adjusted EPS is now $4.84 to $5.16, up from $4.42 to $4.74, on sales of $34.9 billion to $35.9 billion, both above FactSet consensus. Current-quarter guidance of $1.19 to $1.25 a share on $8.87 billion to $9.17 billion also clears expectations. The raise leans on the recently closed $4.4 billion EPC Power acquisition, which CEO Revathi Advaithi said will be immediately accretive in fiscal 2027 and which sits inside the cloud and power infrastructure unit slated to become Axiom in a first-quarter 2027 spin-off. Shares rose 3.7% to $86.45 but remain 31% below the $121.38 close on Oct. 6. The Nov. 2 shareholder vote on the Axiom spin-off is the next scheduled checkpoint.
At the time of this announcement, FLEX was trading at $86.31 on NASDAQ in the Technology sector, with a market capitalization of approximately $31.9B. The 52-week trading range was $53.07 to $166.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.