Plexus expects Q1 revenue $815-820M and EPS $0.80-0.84, below prior guidance

PLEXUS CORP

2022-Q1 EPS reported $0.82 revenue$841,881,000

Revenue expected $815-820M, below prior guidance of $825-865M; GAAP diluted EPS $0.80-0.84 vs. $1.01-1.17.
Miss driven by unanticipated supplier delivery shortfalls in Americas region that accelerated in final weeks.
Includes ~$2M ($0.06/share) severance costs from Asia-Pacific facility transition.
Management expects sequential revenue growth in Q2 but limited EPS improvement; stronger H2 2022 anticipated.

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