Flex Ltd reports results for the quarter ended in January 1 - Earnings Summary

Flex

30/10/2024 15:13

* Flex Ltd  FLEX.OQ  reported quarterly adjusted earnings of
64
cents​​ per share for the quarter ended January 1, lower than
the same quarter last year, when the company reported EPS of 68
cents.  The mean expectation of nine analysts for the quarter
was for earnings of 56 cents per share. Wall Street expected
results to range from 54 cents to 58 cents per share.
    * Revenue fell 12.4% to $6.55 billion from a year ago;
analysts
expected $6.51 billion. 
    * Flex Ltd's reported EPS for the quarter was 54 cents​.
    * The company reported quarterly net income of $214 million.
    * Flex Ltd shares had risen by 3.7% this quarter and
gained 56.5%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "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
$39.00 
This summary was machine generated from LSEG data October 30 at
03:12 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
 Sep. 30 2024      0.56           0.64           Beat
 Jun. 30 2024      0.41           0.51           Beat
 Mar. 31 2024      0.56           0.57           Beat
 Dec. 31 2023      0.61           0.71           Beat