Slide 1: Fiscal first quarter 2024 highlights
Fiscal first quarter 2024 highlights January 24, 2024
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 an
Slide 3: Fiscal first quarter themes
PLEXUS CORP. F I S C A L F I R S T Q UA R T E R T H E M E S Strong quarterly wins $240+ billion available 5.5% GAAP operating performance and robust TAM aligned to our margin in Fiscal 2025 funnel expansion to $4.0 strategy supports Plexus remains the target. billion driving continued Implementing a
Slide 4: Fiscal first quarter financial results
PLEXUS CORP. Fiscal first quarter financial results Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 1,094 6.0% 1,100 1,071 5.3% 5.2% 5.2% 1,022 1,024 5.0% 983 5.0% 4.6% 1,000 4.0% 900 3.0% 800 2.0% 700 1.0% 600 0.0% Q1 F23 Q2 F23 Q3 F23 Q4 F23 Q1 F24 Q1 F23 Q2 F23 Q3 F23 Q4 F23 Q1 F24 EP
Slide 5: Wins and funnel highlights
PLEXUS CORP. Wins and funnel highlights Wins ($ millions) Funnel ($ millions) 350 4,500 321 4,216 3,979 4,003 4,000 3,633 3,672 300 275 261 3,500 250 3,000 192 200 2,500 158 150 2,000 1,500 100 1,000 50 500 - - Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 • 30 new manufacturing progra
Slide 6: Q1F24 Highlights
S U S TA I N A B L E & R E S P O N S I B L E B U S I N E S S P R A C T I C E S Q1F24 Highlights • Joined the U.N. Global Compact • Fiscal 2024 Sustainability goals include: • 5% energy intensity reduction • 5% waste intensity reduction • HR Asia (Malaysia Chapter) named Plexus among the Best Compani
Slide 7: Fiscal 2024 second quarter guidance
PLEXUS CORP. Fiscal 2024 second quarter guidance Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 1,100 1,071 6.0% 5.3% 5.2% 1,022 1,024 5.0% 983 5.0% 4.6% 1,000 4.2% 950 4.0% 900 3.0% 800 2.0% 700 1.0% 600 0.0% Q2 F23 Q3 F23 Q4 F23 Q1 F24 Q2 F24* Q2 F23 Q3 F23 Q4 F23 Q1 F24 Q2 F24* EPS (
Slide 8: Ample growth potential in our differentiated markets
PLEXUS CORP. Ample growth potential in our differentiated markets EMS Market Penetration • 5-year revenue CAGR of 8% vs. 48% industry peer growth of 5.5% 38% 15% $300 • $240 billion opportunity for future outsourcing in markets aligned to $250 PLXS Addressable Market Plexus’ strategy • Goals remain:
Slide 9: Market sector performance - Industrial
PLEXUS CORP. Market sector performance - Industrial Revenue ($ millions) Wins ($ millions) 600 250 Q1F24 vs. 500 472 Q4F23 193 439 428 435 200 417 400 + 4% 142 150 125 300 100 200 Q2F24 74 Expectations 52 50 100 Down low - single - Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 • Q1F24
Slide 10: Market sector performance – Healthcare/Life Sciences
PLEXUS CORP. Market sector performance – Healthcare/Life Sciences Revenue ($ millions) Wins ($ millions) 600 120 113 Q1F24 vs. 104 488 488 Q4F23 500 451 449 100 90 81 400 381 - 15% 80 61 300 60 200 Q2F24 40 Expectations 100 20 Down mid - single - Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 Q1F23 Q2F23 Q3F23 Q4F23
Slide 11: Market sector performance – Aerospace/Defense
PLEXUS CORP. Market sector performance – Aerospace/Defense Revenue ($ millions) Wins ($ millions) 200 60 167 Q1F24 vs. 52 158 Q4F23 50 144 143 150 134 40 38 + 6% 36 100 30 23 23 Q2F24 20 50 Expectations 10 Down low - single - Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 • Q1F24 growth
Slide 12: Regional manufacturing wins trends
PLEXUS CORP. Regional manufacturing wins trends Wins ($ millions) 350 321 300 275 261 EMEA 250 $36M 192 200 158 Q1F24 AMER 150 APAC $139M $86M 100 50 - Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 AMER APAC EMEA Robust Q1F24 manufacturing wins of $261M 12
Slide 13: Manufacturing funnel trends
PLEXUS CORP. Manufacturing funnel trends Funnel ($ millions) 5,000 4,500 4,216 3,979 4,003 4,000 3,633 3,672 3,500 3,000 2,500 2,000 1,500 1,000 500 - Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 Industrial Healthcare/Life Sciences Aerospace/Defense Qualified manufacturing funnel strong at >$4.0 billion 13
Slide 14: Income statement
PLEXUS CORP. Income statement Q1F23 Q4F23 Q1F24 Actual Q1F24 Guidance Revenue $1.09 billion $1.02 billion $983 million $990 million to $1.03 billion Gross margin 9.3% 9.4% 9.0% 9.1% to 9.5% Selling & administrative $43.9 million $43.4 million $43.0 million $42.5 to $43.5 million expenses GAAP operat
Slide 15: Cash flow and balance sheet
PLEXUS CORP. Cash flow and balance sheet Q1F23 Q4F23 Q1F24 Free cash flow ($71.9) million $65.6 million ($31.7) million Share repurchases $11.5 million $3.4 million $0 Cash balance $248 million $257 million $232 million Total debt $516 million $431 million $443 million Return on invested capital 13.
Slide 16: Working capital trends
PLEXUS CORP. Working capital trends 100 95 90 90 87 83 83 Net Cash Cycle Days 80 70 60 50 40 Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 Q1F23 Q2F23 Q3F23 Q4F23 Q1F24 Days in Accounts Receivable 61 56 63 59 61 Days in Contract Assets 10 11 12 13 12 Days in Inventory 151 156 161 154 161 Days in Accounts Payable 69
Slide 17: Fiscal second quarter 2024 guidance
PLEXUS CORP. Fiscal second quarter 2024 guidance Q2F23 Q1F24 Q2F24 Guidance Revenue $1.07 billion $983 million $930 to $970 million GAAP diluted EPS $1.45 $1.04 $0.48 to $0.63 Non-GAAP diluted EPS $1.45 $1.04 $0.80 to $0.95 Gross margin 9.6% 9.0% 8.8% to 9.2% Selling & administrative expenses $46.1
Slide 18: Q&A Thank you.
Q&A Thank you. PLEXUS | I,