Flex reports Q2 FY2024 EPS $0.68 adjusted; plans spin-off of remaining 51.47% Nextracker stake

FLEX LTD.

Q2 net sales $7.5B; GAAP EPS $0.51, adjusted EPS $0.68.
Announces spin-off of remaining ~51.47% interest in Nextracker to Flex shareholders pro rata.
Shareholders expected to receive ~0.17 Nextracker Class A shares per Flex ordinary share.
Transaction expected to close in Q4 FY2024 ending March 31, 2024, subject to conditions.
Flex delivers Merger Notice, exercising right to effect the spin-off under Merger Agreement dated Feb 7, 2023.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FLEX LTD. reported second quarter ended September 29, 2023 results: revenue $7.5 billion, net income $228 million, EPS $0.51.

Period: second quarter ended September 29, 2023
Revenue: $7.5 billion
Net income: $228 million
EPS: $0.51
Result: reported results

Exact text from the filing

Flex (NASDAQ: FLEX) today announced results for its second quarter ended September 29, 2023. Second Quarter Fiscal Year 2024 Highlights: • Net Sales: $7.5 billion • GAAP Operating Income: $376 million • Adjusted Operating Income: $439 million • GAAP Net Income attributable to Flex Ltd: $228 million • Adjusted Net Income attributable to Flex Ltd: $303 million • GAAP Earnings Per Share: $0.51 • Adjusted Earnings Per Share: $0.68

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FLEX LTD. filing history →

Source: SEC EDGAR

accession 0000866374-23-000063

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