Flex gains after Q2 profit beat, FY24 forecast exceed expectations

Flex

26/10/2023 13:19

** Shares of Singapore-based electronics maker Flex  FLEX.O 
gains 8.1% to $25.1 premarket after Q2 profit beats estimates
    ** Co reports Q2 FY24 adj. earnings at 68 cents/share vs
analysts' estimates of 58 cents/shr - LSEG data  
    ** Sees FY24 adj. earnings in the range of $2.49 to $2.66
per share, above analysts' expectations of $2.48 per share 
    ** Posts Q2 net sales at $7.47 bln vs estimates of $7.52 bln
    ** FLEX announces plan to spin-off remaining "economic
interest" in Nextracker  NXT.O  to co's shareholders 
    ** Stock up 8.2% YTD until last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))