{"schema_version":"secwatch.filing_event.v1","accession":"0000866374-24-000017","form_type":"8-K","ticker":"FLEX","cik":"0000866374","company_name":"FLEX LTD.","filed_at":"2024-05-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.176401+00:00","generated_at":"2026-06-03T03:40:12.376880+00:00","sec_items":["2.02","2.05","5.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Flex Q4 adj EPS $0.57, net sales $6.2B; restructuring $75-125M; Board Chair Capellas to step down","bullets":["Q4 FY2024 GAAP EPS from cont ops $0.93, adjusted EPS $0.57; net sales $6.2B.","FY2024 net sales $26.4B, adj operating income $1,267M, adj EPS $2.15 (ex-Nextracker).","Restructuring plan targets $75-125M charges in first three quarters of FY2025, mainly employee severance.","Michael Capellas not standing for re-election at Aug 8 AGM; William Watkins appointed as Chair effective after meeting.","Nextracker historical results reclassified as discontinued ops due to spin-off."],"urls":{"canonical":"https://secwatch.observer/filing/0000866374-24-000017","json":"https://secwatch.observer/filing/0000866374-24-000017.json","markdown":"https://secwatch.observer/filing/0000866374-24-000017.md","text":"https://secwatch.observer/filing/0000866374-24-000017.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/866374/000086637424000017/0000866374-24-000017-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/866374/000086637424000017/flex-20240429.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T03:40:12.376880+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"09d2f19d5fc1974f03e4e7cddd1ac0b137545646","claim":"FLEX LTD. reported fourth quarter and fiscal year ended March 31, 2024 results: revenue Net Sales: $6.2 billion, net income GAAP Net Income from continuing operations: $395 million, EPS GAAP Earnings Per Share from continuing operations: $0.93.","evidence_excerpt":"May 1, 2024 – Flex (NASDAQ: FLEX) today announced results for its fourth quarter and fiscal year ended March 31, 2024. Fourth Quarter Fiscal Year 2024 Highlights: • Net Sales: $6.2 billion • GAAP Operating Income: $159 million • Adjusted Operating Income: $333 million • GAAP Net Income from continuing operations: $395 million • Adjusted Net Income from continuing","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/866374/000086637424000017/0000866374-24-000017-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter and fiscal year ended March 31, 2024"},{"label":"Revenue","value":"Net Sales: $6.2 billion"},{"label":"Net income","value":"GAAP Net Income from continuing operations: $395 million"},{"label":"EPS","value":"GAAP Earnings Per Share from continuing operations: $0.93"},{"label":"Result","value":"reported results"}]},{"claim_id":"0c64efd0bb","claim":"Michael D. Capellas departed as Chair of the Board at FLEX LTD..","evidence_excerpt":"Michael D. Capellas, Chair of the Company's Board of Directors (the “Board”), informed the Board of his decision not to stand for re-election to the Board at the Company’s 2024 Annual General Meeting of shareholders to be held on August 8, 2024 .","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/866374/000086637424000017/0000866374-24-000017-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"not standing for re-election"},{"label":"Role","value":"Chair of the Board"}]},{"claim_id":"d79f775c3f","claim":"William D. Watkins was appointed as Chair of the Board at FLEX LTD..","evidence_excerpt":"William D. Watkins, a current independent director of the Board, has been appointed by the Board to serve as Chair of the Board effective upon the conclusion of the 2024 Annual General Meeting of shareholders, subject to his re-election to the Board at the meeting.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/866374/000086637424000017/0000866374-24-000017-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chair of the Board"}]},{"claim_id":"912d0960d275f691e660d7f418971506c9aaf1ef","claim":"FLEX LTD. announced a restructuring with charges of $75 million to $125 million.","evidence_excerpt":"On April 30, 2024, the Company’s management committed to targeted restructuring activities to improve operational efficiencies by reducing excess workforce capacity and optimizing the Company’s manufacturing footprint. While a detailed action plan has not been finalized, the Company currently estimates charges in the range of $75 million to $125 million will be recognized in the first three quarters of the fiscal year ending March 31, 2025.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/866374/000086637424000017/0000866374-24-000017-index.htm","confidence":0.7,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"$75 million to $125 million"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}