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FLEX - Flex News Story

$17.95 -0.4  -2.2%

Last Trade - 2:55pm

Sector
Technology
Size
Large Cap
Market Cap £6.49bn
Enterprise Value £7.30bn
Revenue £17.08bn
Position in Universe 993rd / 6853

BRIEF-Flex Q2 Non-GAAP Earnings Per Share $0.29

Thu 25th October, 2018 10:27pm
Oct 25 (Reuters) - Flex Ltd  FLEX.O :
    * FLEX REPORTS SECOND QUARTER FISCAL 2019 RESULTS
    * Q2 NON-GAAP EARNINGS PER SHARE $0.29
    * Q2 GAAP EARNINGS PER SHARE $0.16
    * Q2 REVENUE $6.7 BILLION VERSUS I/B/E/S VIEW $6.79 BILLION
    * Q2 EARNINGS PER SHARE VIEW $0.28 -- THOMSON REUTERS
I/B/E/S
    * SEES Q3 2019 ADJUSTED EARNINGS PER SHARE $0.29 TO $0.33
    * SEES Q3 2019 GAAP EARNINGS PER SHARE $0.19 TO $0.23
    * SEES Q3 2019 REVENUE $6.6 BILLION TO $7.0 BILLION
    * WINDING DOWN NIKE MEXICO OPERATION
    * CO AND NIKE HAVE MUTUALLY AGREED TO WIND-DOWN THE FOOTWEAR
MANUFACTURING OPERATIONS IN GUADALAJARA BY DEC 31, 2018
    * FLEX-IN CONNECTION WITH WIND-DOWN OF NIKE MEXICO
OPERATION,
RECOGNIZED $30 MILLION OF EXIT COSTS PRIMARILY RELATED TO
ESTIMATED IMPAIRMENT OF FIXED ASSETS
    * FULL YEAR 2019 REVENUE IS EXPECTED TO BE IN RANGE OF $26.0
BILLION TO $27.0 BILLION
    * FULL YEAR 2019 ADJUSTED EPS IS EXPECTED TO BE IN RANGE OF
$1.05
TO $1.15 PER DILUTED SHARE
    * FISCAL YEAR 2019 GAAP EPS IS EXPECTED TO BE IN RANGE OF
$0.75 TO
$0.85
    * MICHAEL M. MCNAMARA, CEO AND MEMBER OF BOARD HAS DECIDED
TO
RETIRE AS CEO EFFECTIVE DEC 31, 2018
    * Q3 EARNINGS PER SHARE VIEW $0.36, REVENUE VIEW $7.31
BILLION --
THOMSON REUTERS I/B/E/S
    * FY2019 EARNINGS PER SHARE VIEW $1.23, REVENUE VIEW $27.56
BILLION -- THOMSON REUTERS I/B/E/S

Source text for Eikon:  urn:newsml:reuters.com:*:nPnb76QXQa
Further company coverage:  FLEX.O 

 (((Reuters.Briefs@thomsonreuters.com);))
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