Slide 1: Results for Q4 and Fiscal 2022
Results for Q4 and Fiscal 2022 Earnings Announcement: May 4, 2022 Quarter Ended: March 31, 2022
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. These forward-looking statements involve risks and uncertainties that could cause the act
Slide 3: Business Update
Business Update Revathi Advaithi Chief Executive Officer
Slide 4: Fourth Quarter and Full Year Highlights
Fourth Quarter and Full Year Highlights Adj. Adj. Operating Adj. Net Earnings Revenue Income Income Per Share FOURTH QUARTER $6.9B $295M $244M $0.52 • Record adjusted EPS • Revenue growth of 9.3% year-over-year / 3.5% quarter-over-quarter • Strength in Next-Gen Auto, Industrial, and CEC FISCAL YEAR
Slide 5: Our differentiated capabilities strengthen our competitive position in high-growth markets
Our differentiated capabilities strengthen our competitive position in high-growth markets Driving sustainable growth, margin improvement, and creating shareholder value Flex Core Portfolio Investing in high-growth markets Automotive Next generation mobility Digital healthcare Cloud expansion Key ma
Slide 6: Financial Results
Financial Results Paul Lundstrom Chief Financial Officer
Slide 7: Q4 FY22 Financial Summary
Q4 FY22 Financial Summary Record adjusted EPS Revenue Adj. Operating Adj. Earnings Adj. Free Cash ($M) Income Per Share Flow 9% ($M) Adj. Operating Margin ($M) $6,851 4.6% 4.9% 4.5% 4.3% $0.34 $6,720 $0.52 $289 $311 $310 $6,619 $298 $295 $0.50 $252 $0.49 $0.49 $6,266 $135 $31 Q3F21 Q3F22 Q4F21 Q4F22
Slide 8: FY22 Financial Summary
FY22 Financial Summary Executing on key growth drivers Revenue Adj. Operating Adj. Earnings Adj. Free Cash ($M) Income Per Share Flow ($M) Adj. Operating Margin ($M) 7.9% 4.5% $26,041 $677 4.3% $1.96 $1,169 $1.57 $593 $1,031 $24,124 F21 F22 F21 F22 F21 F22 F21 F22 7 See Appendix for GAAP to Non-GAAP
Slide 9: Q4 Segment Performance
Q4 Segment Performance Adj. Operating Adj. Operating RevenueA Income Margin Key Points ($B) Y/Y Growth ($M) Y/Y Growth % Y/Y Growth RELIABILITY $2.8 12.3% $140 (2.3%) 4.9% (74 bps) • Auto demand remained strong; delivered better on the supply side • Improved execution against strong demand in Indust
Slide 10: FY22 Business Unit Performance
FY22 Business Unit Performance Revenue A Adj. Operating Margin Revenue by Business Unit A ($B) Y/Y Growth % Y/Y Growth Nextracker RELIABILITY $10.6 11.7% 5.1% 5 bps 6% Automotive $2.9 15.2% Industrial CEC 20% 27% Health Solutions $2.4 (1.9%) Industrial $5.2 17.2% $26.0B Health 9% AGILITY $14.0 4.0%
Slide 11: Cash Flow Overview
Cash Flow Overview ($M) Q4FY22 FY22 Capital Expenditures, Net A ($M) GAAP Net Income $168 $936 $115 $119 $108 Depreciation, Amortization and other $90 Impairment Charges 126 484 Change in Working Capital and other, net 66 (396) $31 Q4F21 Q1F22 Q2F22 Q3F22 Q4F22 Operating Cash Flow 360 1,024 Capital
Slide 12: Q1 FY23 Segment Outlook
Q1 FY23 Segment Outlook FLEX RELIABILITY SOLUTIONS FLEX AGILITY SOLUTIONS NEXTRACKER Operational Health Solutions Automotive Industrial CEC Lifestyle Consumer • Benefits Strong demand • Growth led by • Significant new • End-to-end • Global scale Devices • US pipeline driven by new recovery of produc
Slide 13: Q1 FY23 Financial Guidance
Q1 FY23 Financial Guidance Revenue Adj. Operating Income A Adj. Earnings per Share B $6.6 - $7.0B $285 - $315M $0.44 - $0.50 GAAP $235 - $265M GAAP $0.33 - $0.39 Other WEIGHTED AVERAGE SHARES INTEREST EXPENSE ADJ. INCOME TAX RATE OUTSTANDING $40 - $45M 13% - 15% ~471M A. Adjusted operating income ex
Slide 14: FY23 Financial Guidance
FY23 Financial Guidance Adj. Operating Adj. Earnings GAAP Earnings Revenue Margin A per Share B per Share $27.7 - $28.7B 4.7% - 4.9% $2.09 - $2.24 $1.63 - $1.78 A. Adjusted operating margin does not include the impact of approximately 0.4% for stock-based compensation, and 0.3% for intangible amorti
Slide 15: Positioned at the forefront of evolving industry opportunities
Positioned at Flex’s competitive advantages the forefront bolster our right to win of evolving industry Established market presence built on extensive technological knowledge opportunities and domain expertise Differentiated capabilities provide significant value for our customers Global footprint e
Slide 16: Appendix
Appendix flex.
Slide 17: Appendix: Q4 / FY22 Financial Highlights
Appendix: Q4 / FY22 Financial Highlights Adj. Gross Profit Adj. SG&A Adj. Gross Profit Adj. SG&A ($M) ($M) ($M) ($M) Adj.Gross Margin % of Revenue Adj.Gross Margin % of Revenue 8.1% 3.1% 7.3% 7.5% 3.0% 3.0% 3.0% 7.3% $1,957 $505 $502 $788 $207 $730 $195 $1,760 Q4F21 Q4F22 Q4F21 Q4F22 F21 F22 F21 F22
Slide 18: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Year- Year- ended ended ended ended ended ended March 31, 2022 December 31, 2021 March 31, 2021 December 31, 2020 March 31, 2022 March 31, 2021 ($ in Millions) GAAP operating income $228 $251 $282 $240 $972 $79
Slide 19: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter-ended Quarter-ended Year-ended Year-ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 ($ in Millions)* % of revenue % of revenue % of revenue % of revenue GAAP gross profit $505 7.4% $509 8.1% $1,932 7.4% $1,687 7.0% Stock
Slide 20: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Year- Year- ended ended ended ended ended ended ($ in Millions, except for EPS)* March 31, 2022 December 31, 2021 March 31, 2021 December 31, 2020 March 31, 2022 Marc 31, 2021 GAAP net income attributable to Fl
Slide 21: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Year- Quarter- Year- ended ended Ended Ended March 31, 2022 March 31, 2022 March 31, 2022 March 31, 2022 ($ in Millions) ($ in Millions) Segment income: Reconciliation of segment income Flex Agility Solutions $152 $605 Total segment inco
Slide 22: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Quarter- Quarter- ended Ended ended ended ended ended ($ in Millions) March 31, 2022 December 31, 2021 October 01, 2021 July 02, 2021 March 31, 2021 December 31, 2020 Net cash provided by operating activities $
Slide 23: Thank you.
Thank you. For more information, please visit investors.flex.com 22