Business
Plexus Announces Fiscal Third Quarter Financial Results
NEENAH, WI, July 24, 2024 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) today announced financial results for our fiscal third quarter ended June 29, 2024,
About this update from Plexus Corp.
[{"type":"text","content":"NEENAH, WI, July 24, 2024 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) today announced financial results for our fiscal third quarter ended June 29, 2024, and guidance for our fiscal fourth quarter ending September 28, 2024. Reports fiscal third quarter 2024 revenue of $961 million, GAAP operating margin of 4.1% and GAAP diluted EPS of $0.91.Reports fiscal third quarter 2024 non-GAAP operating margin of 5.8% and non-GAAP diluted EPS of $1.45, excluding $0.24 of stock-based compensation expense and $0.30 of restructuring and other charges, net of tax.Initiates fiscal fourth quarter 2024 revenue guidance of $990 million to $1.03 billion with GAAP diluted EPS of $1.14 to $1.29, including $0.36 of stock-based compensation expense. Fiscal fourth quarter 2024 non-GAAP EPS guidance of $1.50 to $1.65 excludes stock-based compensation expense. Three Months Ended Jun 29, 2024 Jun 29, 2024 Sep 28, 2024 Q3F24 Results Q3F24 Guidance Q4F24 GuidanceSummary GAAP Items Revenue (in millions)$961 $960 to $1,000 $990 to $1,030Operating margin4.1% 3.9% to 4.3% 4.6% to 5.0%Diluted EPS$0.91 $0.80 to $0.95 $1.14 to $1.29 Summary Non-GAAP Items (1) Adjusted operating margin (2)5.8% 5.2% to 5.6% 5.6% to 6.0%Adjusted EPS (3)$1.45 $1.22 to $1.37 $1.50 to $1.65Return on invested capital (ROIC)10.4% Economic return2.2% (1)Refer to Non-GAAP Supplemental Information in Tables 1 and 2 for additional information regarding non-GAAP financial measures.(2)Excludes stock-based compensation expense of approximately 70 bps for Q3F24 results, 60 bps for Q3F24 guidance, and 100 bps for Q4F24 guidance. Excludes restructuring and other charges, net, of approximately 100 bps for Q3F24 results and 70 bps for Q3F24 guidance.(3)Excludes stock-based compensation expense, net of tax, of $0.24 for Q3F24 results, $0.21 for Q3F24 guidance and $0.36 for Q4F24 guidance. Excludes restructuring and other charges, net of tax, of $0.30 for Q3F24 results and $0.21 for Q3F24 guidance. Fiscal Third Quarter 2024 Information Won 35 manufacturing programs during the quarter representing $279 million in annualized revenue when fully ramped into production.Generated fiscal third quarter free cash flow of $114 million, contributing to fiscal year-to-date free cash flow of $147 million.Purchased $18.6 million of our shares at an average price of $100.64 per share under our repurchase program, ...