Flex Inc. (NASDAQ: (FLEX) stock plunged by 2.35% at last close while the FLEX stock price declines by 5.30% in the pre-market trading session. Flex is the preferred manufacturing partner for a wide range of customers that want to create and produce things that better the world.
FLEX stock’ Financial Highlights
Flex has announced its financial results for the second quarter of fiscal 2022. The summary is stated below:
- The net sales generated for the second quarter of fiscal 2022 were $6.2 billion.
- The GAAP operating income for the second quarter of fiscal 2022 was $286 million.
- For the second quarter of fiscal 2022 adjusting operating income was $286 million.
- The GAAP net income for the second quarter of fiscal 2022 was $336 million.
- Adjusted income per share and adjusted net income were $0.48 and $233 million for the second quarter of fiscal 2022.
- And lastly, the GAAP earnings per share for the second quarter of fiscal 2022 was $0.69.
Revathi Advaithi, Flex Chief Executive Officer stated that,
Flex had another excellent fiscal second quarter, with year-over-year sales growth in their Agility and Reliability businesses, and also increased EPS and margins. He expressed his gratitude to the team for its outstanding performance in overcoming supply chain problems. Through organic and inorganic investments, they will continue to drive revenue growth and margin expansion.
Future outlook
Q3 Fiscal 2022
- The company is expecting a revenue between $6.1 billion to $6.5 billion.
- The GAAP operating income could be between $210 million to $250 million.
- It is anticipated that the adjusted operating income will be between $250 million to $290 million.
- The GAAP EPS will be between $0.30 to $0.36.
- And lastly, the adjusted EPS will be around $0.38 to $0.44.
Revised Guidance for the fiscal year 2022
- For the Fiscal year 2022, the revenue is expected to be around $24.8 billion to $25.8 billion.
- The adjusted EPS for the fiscal year 2022 is expected to be $1.70 to $1.85.
- The GAAP EPS is anticipated to be between $1.71 to $1.86.
