Plexus Reports Strong Q1 Results, Exceeds EPS Guidance, and Raises Q2 Outlook Amidst Robust Program Wins

summarizeSummary

Plexus Corp. announced fiscal first quarter results that met or exceeded guidance, provided strong Q2 guidance, and raised its full-year revenue growth outlook, supported by significant new program wins.

check_boxKey Events

• Exceeded Q1 EPS Guidance

  Reported fiscal first quarter 2026 non-GAAP diluted EPS of $1.78, meeting the high end of its guidance range of $1.66 to $1.81.

• Met Q1 Revenue Guidance

  Achieved fiscal first quarter 2026 revenue of $1.070 billion, aligning with the midpoint of its guidance range of $1.050 billion to $1.090 billion.

• Strong Q2 Guidance

  Initiated fiscal second quarter 2026 revenue guidance of $1.110 billion to $1.150 billion and non-GAAP diluted EPS of $1.80 to $1.95, indicating accelerating sequential growth.

• Significant Program Wins

  Secured 22 new manufacturing programs during the quarter, projected to generate $283 million in annualized revenue, including a record $220 million from the Aerospace/Defense sector.

auto_awesomeAnalysis

Plexus Corp. delivered a strong fiscal first quarter, meeting or exceeding its own guidance for revenue and EPS, driven by robust growth in its Healthcare/Life Sciences and Aerospace/Defense sectors. The company's ability to secure 22 new manufacturing programs, representing a significant $283 million in annualized revenue, particularly a record performance in Aerospace/Defense, signals strong operational execution and market share gains. The positive momentum is further underscored by an upward revision to the full-year revenue growth goal and solid Q2 guidance, suggesting continued strength. While the quarter saw negative free cash flow due to working capital investments, the reconfirmation of $100 million in free cash flow for the full fiscal year mitigates this concern. The ongoing share repurchase program also indicates management's confidence in the company's valuation, especially as the stock trades near its 52-week high.