Slide 1: Fiscal second quarter 2022 financial results
Fiscal second quarter 2022 financial results April 28, 2022
Slide 2: Safe harbor and fair disclosure statement
PLEXUS CORP. Safe harbor and fair disclosure statement Some of the statements made and information provided during our call as well as information included in the supporting materials will be forward looking statements, including, without limitation, those regarding revenue, gross margin, selling &
Slide 3: Fiscal second quarter results
PLEXUS CORP. Fiscal second quarter results Q2F22 Results Q2F22 Guidance Q1F22 Results Revenue ($ millions) $889 $820 to $860 $817 GAAP Diluted EPS $0.95(1) $0.76 to $0.92(2) $0.82(3) • Revenue and GAAP EPS exceeded expectations • IND and HC/LS strengthened due to resolving constrained materials • A/
Slide 4: Fiscal 2022 third quarter guidance
PLEXUS CORP. Fiscal 2022 third quarter guidance REVENUE GUIDE Q3F22 Guidance • Strong demand across all market sectors • Supply chain constraints limiting upside Revenue $885 to $925 million • New program ramps driving growth GAAP Diluted EPS $1.02 to $1.18* EPS GUIDE • Positive leverage of infrastr
Slide 5: Performance by sector
PLEXUS CORP. Performance by sector Q2F22 Q1F22 Q3F22 Expectations Q2F22 vs. Q1F22 Apr 2, 2022 Jan 1, 2022 (percentage points) Industrial $415 47% $364 45% + 14% Flat to up low single Healthcare and Life Sciences $353 40% $344 42% + 3% Up mid single Aerospace and Defense $121 13% $109 13% + 11% Flat
Slide 6: Manufacturing wins
PLEXUS CORP. Manufacturing wins Q2F22 wins: $313M New programs: 38 TFQ $1.11B Trailing Four Quarters (TFQ) Manufacturing Wins $1,200 40% $1,100 35% % of TFQ Sales TFQ Wins $M $1,000 30% $900 Goal 25% 25% $800 $700 20% Q3F20 Q4F20 Q1F21 Q2F21 Q3F21 Q4F21 Q1F22 Q2F22 TFQ Wins TFQ Wins % of TFQ Sales 6
Slide 7: Manufacturing wins by region and sector
PLEXUS CORP. Manufacturing wins by region and sector EMEA A/D $23M AMER $27M HC/LS $68M $65M Q2F22 Q2F22 APAC IND $222M $221M Regional and Sector Highlights • Exceptional IND wins of $221M • New Thailand facility secures anchor program • APAC regional wins very healthy at $222M • Customers resuming
Slide 8: Fiscal second quarter wins highlights
PLEXUS CORP. Fiscal second quarter wins highlights SEMICAP EQUIPMENT (IND) AFTERMARKET SERVICES (HC/LS) • High performance back-end processing equipment • Global service and repair • Production location: Bangkok, Thailand • Initial location: Guadalajara, Mexico CABLE ACCESS PRODUCT (IND) ULTRASOUND
Slide 9: Manufacturing funnel
PLEXUS CORP. Manufacturing funnel Funnel of Qualified Manufacturing Opportunities 4,000 A/D $563M 3,500 3,371 Revenue ($ millions) 3,289 3,316 3,325 3,109 3,037 3,000 IND Q2F22 HC/LS 2,715 $1,942M $866M 2,485 2,500 2,000 Q3F20 Q4F20 Q1F21 Q2F21 Q3F21 Q4F21 Q1F22 Q2F22 Qualified manufacturing funnel
Slide 10: ESG initiative - reduction of electricity consumption
PLEXUS CORP. ESG initiative - reduction of electricity consumption • Component of executive compensation • Goal of 5% reduction in F22 • Sub-metering installed in manufacturing facilities • On-track to achieve objective for F22 • Reductions expected to continue in future years 10
Slide 11: Income statement
PLEXUS CORP. Income statement Q2F22 Comments Revenue $889 million Above guidance range of $820 to $860 million Gross margin 8.6% At high end of guidance range of 8.2% to 8.6% Selling & administrative expenses $40.7 million Above guidance range of $38.5 to $39.5 million GAAP operating margin 4.0% At
Slide 12: Cash flow and balance sheet
PLEXUS CORP. Cash flow and balance sheet Q2F22 Comments Cash from operations: $84 million Free cash flow $53 million Capital expenditures: $31 million Share repurchases $25 million Approx. 306,000 shares at an average price of $81.79 per share Cash balance $309 million Sequentially higher by $90 mil
Slide 13: Working capital trends
PLEXUS CORP. Working capital trends 180 160 140 120 100 Days 80 60 40 20 - Q3F20 Q4F20 Q1F21 Q2F21 Q3F21 Q4F21 Q1F22 Q2F22 Net Cash Cycle Days Inventory Days Contract Asset Days A/R Days A/P Days Customer Deposit Days Q3F20 Q4F20 Q1F21 Q2F21 Q3F21 Q4F21 Q1F22 Q2F22 Inventory Days 97 85 93 89 108 116
Slide 14: Fiscal third quarter 2022 guidance
PLEXUS CORP. Fiscal third quarter 2022 guidance Guidance Revenue $885 to $925 million GAAP diluted EPS $1.02 to $1.18 Gross margin 8.9% to 9.3% Selling & administrative expenses $40.0 to $41.0 million GAAP operating margin 4.4% to 4.9% Depreciation and amortization Approximately $16.5 million Non-op
Slide 15: Q&A Thank you.
O&A Thank you. PLEXUS | ————