Slide 1: Results for Q3 Fiscal 2022
Results for Q3 Fiscal 2022 Earnings Announcement: January 26, 2022 Quarter Ended: December 31, 2021
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 future expected revenues and earnings per share; and our consideration of alternatives relating to our Nextracker business. These forward-
Slide 3: Business Update
Business Update Revathi Advaithi, CEO
Slide 4: Q3 FY2022 Financial Summary
Q3 FY2022 Financial Summary Significant demand across every end-market; upside limited by global supply chain challenges Revenue Adj. Operating Adj. Earnings Adj. Free Cash ($M) Income Per Share Flow ($M) Adj. Operating Margin ($M) 6,720 4.6% 4.6% 4.5% $0.34 326 6,619 4.1% 311 $0.48 $0.49 $0.50 298
Slide 5: Q3 2022 Financial Results
Q3 2022 Financial Results Paul Lundstrom, CFO
Slide 6: Q3 FY2022 Income Statement Summary
Q3 FY2022 Income Statement Summary Prior Year Current Quarter ($M, except per share amounts) December 31, 2020 December 31, 2021 Revenue $6,720 $6,619 Adjusted Operating Income $311 $298 Adjusted Net Income $251 $238 Adjusted Earnings Per Share $0.49 $0.50 GAAP Operating Income $240 $251 GAAP Net In
Slide 7: Q3 FY2022 Financial Highlights
Q3 FY2022 Financial Highlights Adj. Gross Profit Adj. SG&A Adj. Operating Income ($M) ($M) ($M) Adj.Gross Margin % of Revenue Adj. Operating Margin 7.6% 7.5% 3.0% 3.0% 4.6% 4.5% 514 311 498 298 203 200 Q3F21 Q3F22 Q3F21 Q3F22 Q3F21 Q3F22 6
Slide 8: Q3 FY2022 Segment Performance
Q3 FY2022 Segment Performance Revenue Adj. Operating Income & Margin ($B) Y/Y ($M) Y/Y Margin % Y/Y Automotive: Healthy underlying demand offset by continued supply issues Flex Health Solutions: As expected, revenue was down slightly compared Reliability $3.0 5.3% $154 (13.7%) 5.1% (110 bps) to the
Slide 9: Q3 FY2022 Cash Flow Highlights
Q3 FY2022 Cash Flow Highlights 3-Months 9-Months Ended Ended Capital Expenditures, Net A ($M) ($M) December 31, 2021 115 119 GAAP Net Income $227 $769 90 Depreciation, Amortization and other 122 357 65 Impairment Charges Change in Working Capital and other, net (199) (462) 31 Q3F21 Q4F21 Q1F22 Q2F22
Slide 10: Q4 FY2022 Segment Outlook
Q4 FY2022 Segment Outlook Strong, secular growth and emerging opportunities underpin strategic end-market focus Flex Reliability Solutions Flex Agility Solutions Communications, Automotive Health Solutions Industrial Lifestyle Consumer Devices Operational Benefits Enterprise & Cloud • Growth is bala
Slide 11: FY2022 Guidance
FY2022 Guidance October Guidance Updated Guidance Revenue $24.8 - $25.8 billion $25.4 - $25.8 billion Adjusted Operating Margin A 4.4% to 4.6% 4.5% to 4.6% Adjusted Earnings Per Share B $1.70 - $1.85 $1.85 - $1.90 GAAP Earnings Per Share $1.71 - $1.86 $1.90 - $1.95 A. Adjusted operating margin does
Slide 12: Q4 FY2022 Guidance
Q4 FY2022 Guidance Guidance Segment Revenue Outlook (Y/Y) Revenue $6.2 - $6.6 billion Flex Reliability Up mid-to-high Adjusted Operating Income A $265 - $305 million Solutions single digits Adjusted Earnings Per Share B $0.41 - $0.46 Flex Agility GAAP Operating Income $215 - $255 million Relatively
Slide 13: Performance Recap
Performance Recap Revenue Adj. Operating Adj. Earnings ($M) Income Adj. Operating Margin Per Share ($M) 4.5% 4.3% 3.7% 1,160 25,600 $1.88 1,031 $1.57 24,210 24,124 898 $1.23 FY20 FY21 FY22EA FY20 FY21 FY22EA, B FY20 FY20 FY21 FY22E FY22 A 2020 Investor Day: Long-term framework Revenue Organic growth
Slide 14: Driving growth beyond F2022
Focus on strategic end-markets aligned Driving growth to global trends driving strong beyond F2022 multi-year bookings Tech transitions in electrification & autonomy, accelerating 5G, optical, and point-of-care diagnostics Outsourcing expanding as customers look to harden supply chains, require incr
Slide 15: Appendix
Appendix flex.
Slide 16: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended December 31, 2021 October 01, 2021 December 31, 2020 September 25, 2020 ($ in Millions) GAAP operating income $251 $237 $240 $175 Intangible Amortization 15 15 16 16 Stock-based compensa
Slide 17: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended ($ in Millions, except for EPS)* December 31, 2021 October 01, 2021 December 31, 2020 September 25, 2020 GAAP net income $227 $336 $208 $113 Intangible amortization 15 15 16 16 Stock-bas
Slide 18: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter-ended Quarter-ended December 31, 2021 December 31, 2020 ($ in Millions)* % of revenue % of revenue GAAP gross profit $491 7.4% $479 7.1% Stock-based compensation expense 6 6 Restructuring charges 2 29 Legal and Other (1) - Non-GAAP gross
Slide 19: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- ended Ended December 31, 2021 December 31, 2021 ($ in Millions) ($ in Millions) Segment income: Reconciliation of segment income Flex Agility Solutions $163 Total segment income $298 Flex Reliability Solutions 154 Intangible Amo
Slide 20: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Quarter- ended ended ended ended ended ($ in Millions) December 31, 2021 October 01, 2021 July 02, 2021 March 31, 2021 December 31, 2020 Net cash provided by operating activities $150 $180 $334 $161 $348 Reduct
Slide 21: Appendix: Reconciliation of GAAP to Non-GAAP Measures - Nextracker
Appendix: Reconciliation of GAAP to Non-GAAP Measures - Nextracker Quarter - Quarter - ended ended December 31, December 31, 2021 2020 Revenue (billions) $0.34 $0.29 Net income (% of Revenue) 4% 11% Intangible amortization and stock-based compensation 1% 2% Depreciation 0% 0% Interest, net 0% 0% Adj
Slide 22: Thank you.
Thank you. For more information, please visit investors.flex.com 21