Plexus Q1 revenue $983M misses initial guidance; Q2 outlook weak with restructuring charges

PLEXUS CORP

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

Fiscal Q1 revenue $983M, GAAP diluted EPS $1.04 including $0.19 stock compensation.
Initial Q1 guidance was $990M-$1.03B revenue and $1.15-$1.33 EPS.
Q2 guidance: revenue $930M-$970M, GAAP diluted EPS $0.48-$0.63, including $0.32 restructuring charges.
Q2 GAAP diluted EPS midpoint $0.56, down sharply from Q1's $1.04; company cites restructuring.
Adjusted operating margin Q2 guidance 4.0%-4.4% vs Q1 GAAP operating margin 4.6%.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PLEXUS CORP updated its fiscal second quarter ending March 30, 2024 guidance (initiated).

Period: fiscal second quarter ending March 30, 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

Initiates fiscal second quarter 2024 revenue guidance of $930 million to $970 million with GAAP diluted EPS of $0.48 to $0.63, including $0.25 stock-based compensation expense and approximately $0.32 of restructuring charges

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PLEXUS CORP reported fiscal first quarter ended December 30, 2023 results: revenue $983 million, EPS $1.04.

Period: fiscal first quarter ended December 30, 2023
Revenue: $983 million
EPS: $1.04
Result: reported results

Exact text from the filing

results for our fiscal first quarter ended December 30, 2023, and guidance for our fiscal second quarter ending March 30, 2024. • Reports fiscal first quarter 2024 revenue of $983 million, GAAP operating margin of 4.6% and GAAP diluted EPS of $1.04, including $0.19 of stock-based compensation expense • Initiates fiscal second quarter 2024 revenue guidance of $930

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Source: SEC EDGAR

accession 0000785786-24-000010

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