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FLEX - Flex News Story

$17.42 0.7  4.2%

Last Trade - 13/05/21

Sector
Technology
Size
Large Cap
Market Cap £5.94bn
Enterprise Value £6.76bn
Revenue £17.17bn
Position in Universe 1021st / 6856

BRIEF-Flex Reports Q1 Adj Earnings Per Share Of $0.27

Thu 25th July, 2019 9:57pm
July 25 (Reuters) - Flex Ltd  FLEX.O :
    * FLEX REPORTS FIRST QUARTER FISCAL 2020 RESULTS
    * Q1 ADJUSTED EARNINGS PER SHARE $0.27
    * Q1 GAAP EARNINGS PER SHARE $0.09
    * SEES Q2 2020 ADJUSTED EARNINGS PER SHARE $0.29 TO $0.33
    * SEES Q2 2020 GAAP LOSS PER SHARE $0.05 TO $0.25 INCLUDING
ITEMS
    * SEES Q2 2020 REVENUE $6.1 BILLION TO $6.5 BILLION
    * Q1 EARNINGS PER SHARE ESTIMATE $0.27 -- REFINITIV IBES
DATA
    * SAYS NOT PROVIDING DETAILED FISCAL 2020 GUIDANCE BUT
REMAINS
COMFORTABLE WITH PRIOR FISCAL 2020 CONSENSUS ADJUSTED EPS RANGE
    * SAYS EXPECTS TO INCUR ADDITIONAL RESTRUCTURING AND OTHER
CHARGES
THROUGHOUT FISCAL 2020 CURRENTLY ESTIMATED IN RANGE OF $145
MILLION TO $265 MILLION
    * FLEX - IN QUARTER, DUE TO RECENT GEOPOLITICAL
DEVELOPMENTS,
PRIMARILY IMPACTING 1 CUSTOMER IN CHINA, CO SAW REDUCED DEMAND
FOR PRODUCTS FOR THAT CUSTOMER
    * FLEX - COMPANY HAS DECIDED TO "ACCELERATE ITS STRATEGIC
DECISION
TO REDUCE ITS EXPOSURE TO CERTAIN HIGH-VOLATILITY PRODUCTS IN
BOTH CHINA AND INDIA"
    * IN QUARTER, CO ALSO INITIATED TARGETED ACTIVITIES TO
RESTRUCTURE
ITS BUSINESS TO FURTHER REDUCE AND STREAMLINE ITS COST STRUCTURE

Source text for Eikon:  ID:nBw62VLnna 
Further company coverage:  FLEX.O 

 (Reuters.Briefs@thomsonreuters.com)
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