Plexus Beats Q4 Guidance, Posts Record $4.97B FY26 Revenue, Guides Q1 FY27 to $1.41-1.46B
PLXS sits 81% above its 52-week low of $132.03 on elevated volume (2.8× avg).
Summary
Plexus beat its Q4 guidance and posted record fiscal 2026 revenue of $4.965 billion, up 23%, while guiding Q1 FY2027 to $1.41-$1.46 billion and raising its operating margin goal to 6.5%-7.0%.
Key Events · Earnings and Guidance · PLXS
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Q4 Beats Guidance on Every Line
Revenue of $1.427 billion versus $1.330-$1.380 billion guided, non-GAAP operating margin of 6.7% versus 6.1%-6.5%, and non-GAAP EPS of $2.84 versus $2.47-$2.63.
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Record Fiscal 2026 Revenue, Up 23%
Full-year revenue of $4.965 billion versus $4.033 billion, GAAP diluted EPS of $7.41 and non-GAAP diluted EPS of $8.97; ROIC of 15.8% was 680 basis points above the 9.0% cost of capital.
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Q1 FY2027 Guidance and New Margin Goal
Guides Q1 FY2027 revenue of $1.410-$1.460 billion (up 34% year over year at the midpoint) and non-GAAP EPS of $2.46-$2.62; introduces a 6.5%-7.0% non-GAAP operating margin goal, up from the prior 6% target.
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Demand Funnel Hits Record $4.9B
Won 36 manufacturing programs worth $290 million in annualized revenue when fully ramped; the qualified opportunity funnel grew 33% year over year to a record $4.9 billion.
Analysis · PLXS · Manufacturing
Plexus closed fiscal 2026 with record revenue of $4.965 billion, up 23% year over year, and Q4 results that beat its own guidance on every line: revenue of $1.427 billion against a $1.330-$1.380 billion range, non-GAAP operating margin of 6.7% versus 6.1%-6.5%, and non-GAAP EPS of $2.84 versus $2.47-$2.63. Management raised its structural profitability target to a 6.5%-7.0% non-GAAP operating margin from the prior 6% goal and guided Q1 FY2027 revenue to $1.410-$1.460 billion, up 34% year over year at the midpoint. The offset is cash: full-year free cash flow was a $28.9 million use as inventories swelled by $447.7 million to support the ramp, and Q4 free cash flow was only $6.4 million. Management still expects at least $100 million of FY2027 free cash flow, so the working capital build is the number to hold them to.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 39.1% of the 988 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, PLXS was trading at $239.34 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $6.4B. The 52-week trading range was $132.03 to $307.06. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.