Slide 1: Fiscal fourth quarter 2023 highlights
Fiscal fourth quarter 2023 highlights October 25, 2023
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 fourth quarter themes
PLEXUS CORP. F I S C A L F O UR T H Q UA R T E R T H E M E S Robust fiscal 2023 Momentum in advancing Confident in achieving $5 financial performance our sustainable and billion in revenue with responsible business 5.5% GAAP operating practices margin by fiscal 2025 O U R V I S I O N O U R M I S S I
Slide 4: Enduring goal performance
PLEXUS CORP. Enduring goal performance Revenue ($ millions) ROIC PLXS 4,500 18% Revenue Non-GAAP 4,000 16% ROIC CAGR Op Margin * 3,500 14% Enduring Goal 9-12% 5.5% 15.0% 3,000 12% 1 Year (F23) 10% 5.2% 13.4% 2,500 10% 5 Year (F18-F23) 8% 4.9% 13.8% 2,000 8% 1,500 6% • F23 revenue growth of >10% 1,00
Slide 5: Fiscal fourth quarter financial results
PLEXUS CORP. Fiscal fourth quarter financial results Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 1,124 1,094 1,100 1,071 6.0% 5.5% 1,024 5.2% 5.3% 5.2% 1,022 5.0% 1,000 5.0% 4.0% 900 3.0% 800 2.0% 700 1.0% 600 0.0% Q4 F22 Q1 F23 Q2 F23 Q3 F23 Q4 F23 Q4 F22 Q1 F23 Q2 F23 Q3 F23 Q4 F23
Slide 6: Wins and funnel highlights
PLEXUS CORP. Wins and funnel highlights Wins ($ millions) Funnel ($ millions) 350 321 4,500 4,216 3,979 300 4,000 3,633 3,672 275 3,389 3,500 250 214 3,000 192 200 2,500 158 150 2,000 1,500 100 1,000 50 500 - - Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 • 30 new manufacturing progra
Slide 7: Fiscal 2024 first quarter guidance
PLEXUS CORP. Fiscal 2024 first quarter guidance Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 1,094 6.0% 1,100 1,071 5.3% 5.2% 5.2% 5.1% 1,022 1,024 5.0% 1,010 5.0% 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 8: Sustainable and responsible business practices: fiscal 2023 highlights
PLEXUS CORP. SUSTAINABLE AND RESPONSIBLE BUSINESS PRACTICES FISCA L 20 23 HIGHLIGHTS Over 19,000 volunteer hours (300% YoY increase) Two new Employee Resource Groups, 15 new chapters created globally Charitable foundation donated > $1 million globally Expect to substantially exceed our 5% energy int
Slide 9: Market sector performance - Industrial
PLEXUS CORP. Market sector performance - Industrial Revenue ($ millions) Wins ($ millions) 600 250 520 Q4F23 vs. 500 472 Q3F23 193 439 428 200 417 400 -2% 142 150 300 100 90 200 Q1F24 74 Expectations 52 50 100 Up high single - - Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 • Q4F23 exc
Slide 10: Market sector performance – Healthcare/Life Sciences
PLEXUS CORP. Market sector performance – Healthcare/Life Sciences Revenue ($ millions) Wins ($ millions) 600 120 Q4F23 vs. 104 488 101 488 Q3F23 500 467 451 100 90 449 81 400 -1% 80 61 300 60 200 Q1F24 40 Expectations 100 20 Down low - double - Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 Q4F22 Q1F23 Q2F23 Q3F23 Q
Slide 11: Market sector performance – Aerospace/Defense
PLEXUS CORP. Market sector performance – Aerospace/Defense Revenue ($ millions) Wins ($ millions) 200 60 Q4F23 vs. 52 158 Q3F23 50 144 143 150 137 134 40 38 36 + 11% 100 30 23 23 Q1F24 20 50 Expectations 10 Up mid single - - Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 • Q4F23 strong
Slide 12: Regional manufacturing wins trends
PLEXUS CORP. Regional manufacturing wins trends Wins ($ millions) 350 321 300 275 250 214 EMEA 192 $52M 200 158 AMER Q4F23 $97M 150 100 APAC $43M 50 - Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 AMER APAC EMEA Robust F23 manufacturing wins of $946M 12
Slide 13: Manufacturing funnel trends
PLEXUS CORP. Manufacturing funnel trends Funnel ($ millions) 5,000 4,500 4,216 3,979 4,000 3,633 3,672 3,389 3,500 3,000 2,500 2,000 1,500 1,000 500 - Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 Industrial Healthcare/Life Sciences Aerospace/Defense Qualified manufacturing funnel remains strong at $3.7 billion 13
Slide 14: Income statement
PLEXUS CORP. Income statement Q4F22 Q3F23 Q4F23 Actual Q4F23 Guidance $1.00 to $1.04 Revenue $1.12 billion $1.02 billion $1.02 billion billion Gross margin 9.5% 9.2% 9.4% 8.9% to 9.3% Selling & administrative $42.0 to $43.0 $44.8 million $42.3 million $43.4 million expenses million GAAP operating ma
Slide 15: Cash flow and balance sheet
PLEXUS CORP. Cash flow and balance sheet Q4F22 Q3F23 Q4F23 Free cash flow ($17.1) million ($11.5) million $65.6 million Share repurchases $3.5 million $13.5 million $3.4 million Cash balance $275 million $254 million $257 million Total debt $462 million $492 million $431 million Return on invested c
Slide 16: Working capital trends
PLEXUS CORP. Working capital trends 100 90 90 87 83 83 Net Cash Cycle Days 80 73 70 60 50 40 Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 Q4F22 Q1F23 Q2F23 Q3F23 Q4F23 Days in Accounts Receivable 60 61 56 63 59 Days in Contract Assets 11 10 11 12 13 Days in Inventory 144 151 156 161 154 Days in Accounts Payable 72
Slide 17: Fiscal first quarter 2024 guidance
PLEXUS CORP. Fiscal first quarter 2024 guidance Q1F23 Q4F23 Q1F24 Guidance Revenue $1.09 billion $1.02 billion $990 million to $1.03 billion GAAP diluted EPS $1.49 $1.44 $1.15 to $1.33 Gross margin 9.3% 9.4% 9.1% to 9.5% Selling & administrative expenses $43.9 million $43.4 million $42.5 to $43.5 mi
Slide 18: Q&A Thank you.
Q&A Thank you. PLEXUS | I,