Flex Ltd reports results for the quarter ended in December - Earnings Summary

Flex

31/01/2024 22:54

* Flex Ltd  FLEX.OQ  reported quarterly adjusted earnings of
71
cents​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of 62
cents.  The mean expectation of nine analysts for the quarter
was for earnings of 61 cents per share. Wall Street expected
results to range from 60 cents to 64 cents per share.
    * Revenue fell 8.4% to $7.10 billion from a year ago;
analysts
expected $6.72 billion. 
    * Flex Ltd's reported EPS for the quarter was 45 cents​.
    * The company reported quarterly net income of $197 million.
    * Flex Ltd shares had risen by 8.5% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.6%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "buy"

Wall Street's median 12-month price target for Flex Ltd is
$33.00 
This summary was machine generated from LSEG data January 31 at
10:53 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.61           0.71           Beat
 Sep. 30 2023      0.58           0.68           Beat
 Jun. 30 2023      0.51           0.57           Beat
 Mar. 31 2023      0.51           0.60           Beat