Slide 1: Fiscal First Quarter 2025 Highlights
PLEXUS CONFIDENTIAL FISCAL FIRST QUARTER 2025 HIGHLIGHTS January 22, 2025
Slide 2: Safe Harbor and Fair Disclosure Statement
PLEXUS CONFIDENTIAL 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, sel
Slide 3: Fiscal First Quarter Themes
PLEXUS CONFIDENTIAL FISCAL FIRST QUARTER THEMES New program ramps Increasing F25 free Meaningful F25 EPS inclusive of market cash flow forecast. Will growth leverages share gains support continue to deploy free revenue growth in all F25 revenue growth. cash flow to create sectors, strong additional
Slide 4: Financial Results
PLEXUS CONFIDENTIAL FINANCIAL RESULTS * ● Volatility within market sectors ** ● Non-GAAP operating margin near high end of guidance and met long-term goal ● Robust non-GAAP EPS ● Better than anticipated FCF performance Excludes approximately 50 bps of restructuring charges and 70 bps of stock-based
Slide 5: Wins and Funnel Highlights
PLEXUS CONFIDENTIAL WINS AND FUNNEL HIGHLIGHTS ● Continued strength in Healthcare/Life Sciences manufacturing program wins ● Exciting new growth opportunities in Aerospace/Defense and Industrial ● Engineering Solutions wins approached a two-year high, a strong leading indicator of revenue growth 5
Slide 6: Sustainable & Responsible Business Practices
PLEXUS CONFIDENTIAL SUSTAINABLE & RESPONSIBLE BUSINESS PRACTICES Fiscal 2025 Focus: ● Customer value creation related to product sustainability ● Delivering operational efficiencies through emissions, waste and water reductions ● Building deeper intelligence on our supply base Awards & Community Ach
Slide 7: Fiscal 2025 Second Quarter Guidance
PLEXUS CONFIDENTIAL FISCAL 2025 SECOND QUARTER GUIDANCE ● Q2F25 revenue of $960 million to $1.00 billion ● Non-GAAP EPS of $1.46 to $1.61 ● Anticipate revenue ramp for 2HF25 ● Expect strong operating margin performance for F25 ● Anticipate another year of solid FCF performance Represents midpoint o
Slide 8: Market Sector Performance: Aerospace/Defense
PLEXUS CONFIDENTIAL MARKET SECTOR PERFORMANCE AEROSPACE/DEFENSE Q1F25 vs. Q4F24 - 13% Q2F25 Expectations Up high single ● Q1F25 below expectations on reductions in ● Q1F25 wins highlights: commercial aerospace production rates and ○ Largest ever win with any defense prime defense program ramp dela
Slide 9: Market Sector Performance: Healthcare/Life Sciences
PLEXUS CONFIDENTIAL MARKET SECTOR PERFORMANCE HEALTHCARE/LIFE SCIENCES Q1F25 vs. Q4F24 - 10% Q2F25 Expectations Up high single ● Q1F25 below expectations on demand softness ● Q1F25 wins highlights: ● Q2F25 benefiting from new program ramps ○ Expanded ultrasound engagement ● Moderate growth in F25
Slide 10: Market Sector Performance: Industrial
PLEXUS CONFIDENTIAL MARKET SECTOR PERFORMANCE INDUSTRIAL Q1F25 vs. Q4F24 - 2% Q2F25 Expectations Down high single to low double ● Q1F25 above expectations on higher near-term ● Q1F25 wins highlights: demand with multiple customers ○ Industrial vision technology product ● Soft demand in broader ind
Slide 11: Qualified Manufacturing Funnel Trends
PLEXUS CONFIDENTIAL QUALIFIED MANUFACTURING FUNNEL TRENDS Funnel Supports Continued Strength in Manufacturing Wins 11
Slide 12: Income Statement
PLEXUS CONFIDENTIAL INCOME STATEMENT Q1F24 Q4F24 Q1F25 Actual Q1F25 Guidance Revenue $983 million $1.05 billion $976 million $960 million to $1.00 billion Gross margin 9.0% 10.3% 10.3% 10.1% to 10.4% Selling & administrative expense $43.0 million $54.1 million $49.1 million $46.6 to $47.6 million GA
Slide 13: Cash Flow and Balance Sheet
PLEXUS CONFIDENTIAL CASH FLOW AND BALANCE SHEET Q1F24 Q4F24 Q1F25 Free cash flow $32) million $194 million $27 million Share repurchases $0 $20 million $13 million Cash balance $232 million $347 million $318 million Total debt $443 million $247 million $211 million Return on invested capital 10.3%
Slide 14: Working Capital Trends
PLEXUS CONFIDENTIAL WORKING CAPITAL TRENDS Q1F24 Q2F24 Q3F24 Q4F24 Q1F25 Days in Accounts Receivable 61 61 61 54 56 Days in Contract Assets 12 12 11 10 12 Days in Inventory 161 158 151 127 134 Days in Accounts Payable 66 65 62 59 69 Days in Advanced Payments 73 75 78 68 65 14 Net Cash Cycle Days 95
Slide 15: Fiscal Second Quarter 2025 Guidance
PLEXUS CONFIDENTIAL FISCAL SECOND QUARTER 2025 GUIDANCE Q2F24 Q1F25 Q2F25 Guidance Revenue $967 million $976 million $960 million to $1.00 billion GAAP diluted EPS $0.58 $1.34 $1.22 to $1.37 Non-GAAP diluted EPS $1.19 $1.73 $1.46 to $1.61 Gross margin 9.1% 10.3% 9.7% to 10.0% Selling & administrativ
Slide 16: Q&A Thank you.
PLEXUS CONFIDENTIAL Q&A Thank you.