Slide 1: Q1 FY26 Earnings Presentation
Q1 FY26 Earnings Presentation Quarter End: June 27, 2025 Earnings Announcement: July 24, 2025
Slide 2: Risks and non-GAAP disclosures
Risks and non-GAAP disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including statements related to our future financial results and our guidance for future financial performance (including expected revenues, operating income, margins and
Slide 3: Business update
Business update Revathi Advaithi Chief Executive Officer
Slide 4: Executive summary
Executive summary Q1 FINANCIAL PERFORMANCE Revenue Adj. operating income Adj. operating margin Adj. net income Adj. earnings per share $6.6B $395M 6.0% $274M $0.72 BUSINESS UPDATES Margins: +120bps Y/Y and a record Q1 adjusted operating margin FINANCIAL Earnings per Share: +40% Y/Y and a record Q1 a
Slide 5: Power and compute: winning solutions for the data center
Power and compute: winning solutions for the data center Reliability Agility Health Solutions Automotive Industrial CEC Lifestyle Consumer Devices Power Cloud ABOVE AND AROUND THE LV & MV Power Remote Busway Power Utility Metering IT HARDWARE RACK switch gear distribution power Pods control units (P
Slide 6: Our unmatched global footprint enables regionalization
Our unmatched global footprint enables regionalization Reaching across every major geography and powered by a world-class workforce that delivers precision at scale Americas Revenue Contribution FY20-FY25 62% FY20 38% 49% FY25 51% Americas Rest of World Global Scale Americas Europe, Middle East, Asi
Slide 7: Financials
Financials Kevin Krumm Chief Financial Officer
Slide 8: Key financials
Key financials Q1FY25 Q1FY26 FLEX • Strong execution in a dynamic environment Revenue $6,314M $6,575M Adj. Gross Profit / Margin $495M / 7.8% $596M / 9.1% • Robust data center growth across both Cloud and Power end markets Adj. Operating Income / Margin $306M / 4.8% $395M / 6.0% Adj. Earnings Per Sh
Slide 9: Segment performance
Segment performance REVENUE ADJ. OPERATING INCOME ADJ. OPERATING MARGIN TOTAL FLEX REVENUE ($B) Y/Y GROWTH ($M) Y/Y GROWTH % Y/Y CHANGE RELIABILITY $2.9 (2%) $172 17% 6.0% 100 bps 44% AGILITY 56% $6.6B $3.7 10% $240 34% 6.5% 120 bps CORPORATE SERVICES -- -- ($17) -- -- -- AND OTHER A TOTAL $6.6 4% $
Slide 10: Cash flow overview
Cash flow overview CAPITAL EXPENDITURES, NET A ($M) ($M) Q1FY26 $131 $108 $107 $108 $100 GAAP NET INCOME $192 Depreciation, Amortization and other Impairment Charges 142 Change in Working Capital and other, net 65 Q1F25 Q2F25 Q3F25 Q4F25 Q1F26 OPERATING CASH FLOW 399 Capital expenditures, netA (131)
Slide 11: FY26 Guidance
FY26 Guidance Current Market Assumptions & Outlook $25.9 - $27.1B revenue • Guidance based on current demand indicators • Expect to reach FY27 goal for 6%+ adj. operating margin one year early 6.0% - 6.1% adj. operating marginA • Strong contractual protection for tariff pass-throughs $2.86 - $3.06 a
Slide 12: FY26 Revenue expectations
FY26 Revenue expectations Balancing growth in key markets & managing mix against continued macro uncertainty RELIABILITY Down low-single digit to up mid-single digit Industrial Ongoing strong demand in data center power balanced against soft renewables, core industrial Health Steady medical device d
Slide 13: Q2 FY26 Guidance
Q2 FY26 Guidance RELIABILITY Down low-single digit to up low-single digit AGILITY Up low-single digit to up mid-single digit Revenue Adj. operating incomeA Adj. earnings per shareB $6.5B - $6.8B $375M - $415M $0.70 - $0.78 GAAP $322M - $362M GAAP $0.58- $0.66 Interest expense Adj. income tax rate We
Slide 14: Thank you.
Thank you. For more information, please visit investors.flex.com
Slide 15: Appendix
Appendix flex.
Slide 16: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended June 27, 2025 March 31, 2025 June 28, 2024 March 31, 2024 % of revenue % of revenue % of revenue % of revenue ($ in Millions) GAAP gross profit $572 8.7% $563 8.8% $471 7.5% $437 7.1% St
Slide 17: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended June 27, 2025 March 31, 2025 June 28, 2024 March 31, 2024 ($ in Millions) GAAP operating income $311 $305 $233 $159 Intangible amortization 21 21 16 16 Stock-based compensation expense 3
Slide 18: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended ($ in Millions, except for EPS) June 27, 2025 March 31, 2025 June 28, 2024 March 31, 2024 GAAP net income $192 $222 $139 $395 Intangible amortization 21 21 16 16 Stock-based compensation
Slide 19: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- ended Ended June 27, 2025 June 27, 2025 ($ in Millions) ($ in Millions) Segment income: Reconciliation of segment income Flex Agility Solutions $240 GAAP Operating Income $311 Flex Reliability Solutions 172 Intangible amortizati
Slide 20: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Quarter- Quarter- ended Ended ended ended ended ended ($ in Millions) June 27, 2025 March 31, 2025 December 31, 2024 September 27, 2024 June 28, 2024 March 31, 2024 Net cash provided by operating activities $39