Plexus Posts Record Q3 Revenue, Guides Above Consensus; Raises Full-Year Outlook
PLXS has more than doubled off its 52-week low of $124.49 on elevated volume (2.6× avg).
Summary
Plexus reported record fiscal Q3 revenue of $1.305 billion and non-GAAP EPS of $2.32, both above guidance. Q4 guidance was raised well above consensus, and full-year revenue growth is now expected to exceed 20%. Record manufacturing wins and a record pipeline support sustained momentum.
Key Events · Earnings and Guidance · PLXS
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Record Q3 Revenue and EPS Beat
Revenue of $1.305 billion grew 12% sequentially and 28% year-over-year, exceeding guidance. Non-GAAP diluted EPS of $2.32 beat the high end of guidance.
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Raised Q4 and Full-Year Guidance
Q4 revenue guided to $1.330–$1.380 billion (midpoint +28% YoY) and non-GAAP EPS to $2.47–$2.63, both above consensus. Full-year revenue growth now expected to exceed 20%.
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Record Manufacturing Wins and Pipeline
Won 31 programs representing $255 million in annualized revenue; qualified manufacturing opportunity funnel expanded to a record $4.5 billion.
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Operational Excellence: Cash Cycle and ROIC
Cash cycle improved to 62 days, the best in over five years. ROIC reached 14.9%, up 110 bps sequentially and the highest in nearly five years.
Analysis · PLXS · Manufacturing
Plexus delivered a standout quarter with revenue of $1.305 billion, beating guidance and growing 28% year-over-year. Non-GAAP EPS of $2.32 also topped expectations. The company guided Q4 revenue to $1.330–$1.380 billion and non-GAAP EPS to $2.47–$2.63, both well above prior consensus. Full-year revenue growth is now seen exceeding 20%, and early fiscal 2027 commentary points to growth above the 9–12% long-term target. Record manufacturing wins of $255 million and a record $4.5 billion qualified pipeline support sustained momentum. Operational execution was strong: cash cycle hit a five-year low of 62 days, and ROIC reached 14.9%, the highest in nearly five years. The company also repurchased $20.6 million in shares. This report materially raises the growth and profitability trajectory, justifying a higher valuation.
At the time of this filing, PLXS was trading at $249.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $6.4B. The 52-week trading range was $124.49 to $307.06. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.