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

Flex

01/05/2024 16:21

* Flex Ltd  FLEX.OQ  reported quarterly adjusted earnings of
57
cents​​ per share for the quarter ended in January, lower than
the same quarter last year, when the company reported EPS of 60
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 55 cents to 57 cents per share.
    * Revenue fell 17.5% to $6.17 billion from a year ago;
analysts
expected $6.10 billion. 
    * Flex Ltd's reported EPS for the quarter was 93 cents​.
    * The company reported quarterly net income of $395 million.
    * Flex Ltd shares had risen by 0.1% this quarter and
gained 29.3%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 11.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
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
$30.43 
This summary was machine generated from LSEG data May 1 at 03:20
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
 Mar. 31 2024      0.56           0.57           Beat
 Dec. 31 2023      0.61           0.71           Beat
 Sep. 30 2023      0.58           0.68           Beat
 Jun. 30 2023      0.51           0.57           Beat