Flex rises on Q4 profit beat, higher sales
11/05/2023 18:07
** Shares of Singapore-based company Flex Ltd FLEX.O up
5.3% at $22.3
** Electronics manufacturer posts Q4 adjusted earnings of
$0.57/shr vs Street estimates of $0.51/shr - Refinitiv IBES
** Q4 net sales $7.5 bln vs $6.9 bln reported a year ago
** Co sees Q1 adjusted EPS between $0.47 and $0.53, in line
with expectations of $0.53/shr
** Sees FY 2024 adj. profit between $2.35/shr and $2.55/shr,
while analysts expect $2.44/shr
** Nine of 10 brokerages rate the stock "buy" or higher and
1 "hold"; their median PT is $28.50
** Including session's gains, stock up ~3% YTD
(Reporting By Akshita Toshniwal)
((Akshita.Toshniwal@thomsonreuters.com))