Plexus warns Q1 revenue, EPS will miss prior guidance; authorizes $50M buyback

PLEXUS CORP

2024-Q1 EPS reported $1.04 revenue$1,008,119,000

Preliminary Q1 revenue expected $980-985M, below prior guidance of $990M-$1.03B.
GAAP diluted EPS expected $1.02-$1.06, below prior guidance of $1.15-$1.33.
Miss driven by inventory corrections and weaker demand in Healthcare/Lifesciences and Industrial.
Board approves new $50M share repurchase authorization.
Full Q1 results and Q2 guidance to be reported on Jan 25, 2024 conference call.

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