Plexus reaffirms Q3 non-GAAP guidance; GAAP EPS cut by $0.77 due to Norway arbitration charge

PLEXUS CORP

Reaffirmed Q3F23 non-GAAP guidance: revenue $1.0-$1.05B, adjusted operating margin 4.5%-5.0%, adjusted diluted EPS $1.05-$1.23.
GAAP guidance lowered: now expects diluted EPS $0.28-$0.46 vs prior $0.57-$0.75 due to $14.4M arbitration charge.
Additional one-time charge of $14.4M relates to adverse arbitration decision in Norway on contractual matter; company disagrees.
Total restructuring and non-recurring charges for Q3F23 now ~$23.4M ($0.77 per diluted share impact).

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