Flex Ltd Stock Price, News & Analysis

Nextracker, a subsidiary of Flex, has filed a registration statement with the SEC for a proposed initial public offering (IPO) of its Class A common stock under the ticker symbol NXT. The specific details regarding the number of shares and pricing are still to be determined, with the offering subject to market conditions. Notable underwriters involved include J.P. Morgan, BofA Securities, Citigroup, and Barclays. This move aims to enhance Nextracker's position as a leading provider of solar tracker solutions in the renewable energy sector.

Flex (NASDAQ: FLEX) will release its third quarter fiscal 2023 financial results on January 25, 2023, after market close. A conference call will follow at 1:30 p.m. PT to discuss these results. Investors can access the live webcast on the company’s investor relations website. Flex is a global manufacturing partner, providing innovative solutions across various industries, backed by a workforce operating in 30 countries.

Flex (NASDAQ: FLEX) will participate in the Credit Suisse 26th Annual Technology Conference on November 29, 2022. The leadership team's presentation is scheduled for 7:55am PT / 10:55am ET and will be accessible via a live webcast on the Flex Investor Relations website. Additionally, an archived replay will be available post-presentation. Flex is known for its global manufacturing solutions and commitment to sustainability across diverse industries.

Flex (NASDAQ: FLEX) reported its second quarter fiscal year 2023 results with net sales of $7.8 billion, a 5% increase year-over-year. GAAP net income reached $232 million or $0.50 per share, while adjusted net income was $289 million or $0.63 per share. For the upcoming third quarter, Flex anticipates revenue between $7.3 billion and $7.7 billion and GAAP EPS of $0.46 to $0.52. Fiscal year 2023 guidance has been updated to project revenue of $29.1 billion to $30.1 billion and adjusted EPS ranging from $2.20 to $2.35.

Flex's factory in Sorocaba, Brazil, has been recognized as part of the World Economic Forum's Global Lighthouse Network due to its adoption of Industry 4.0 technologies and a focus on sustainability. This factory is the second of Flex's facilities to receive this honor, underscoring its commitment to operational efficiency and employee well-being. Key innovations include an IIoT-enabled performance system, a circular economy ecosystem that reduced material waste by 94%, and upskilling of over 200 employees. This recognition highlights Flex’s leadership in sustainable manufacturing.

Flex (NASDAQ: FLEX) will announce its second quarter fiscal 2023 financial results after market close on October 26, 2022. A conference call is scheduled for 1:30 p.m. PT to discuss the results. The live webcast will be available on the Flex Investor Relations site, with a replay and supporting materials offered post-event. Flex positions itself as a leading manufacturing partner across various sectors, leveraging a global workforce in 30 countries and focusing on sustainable operations.

Flex (NASDAQ: FLEX) has appointed Maryrose T. Sylvester to its Board of Directors, effective September 23, 2022. Ms. Sylvester, with a strong background in industrial leadership and technology, will also serve on the Compensation and People Committee. She has previously held key roles at ABB Group and GE, where she drove significant growth. Michael D. Capellas, Chair of the Flex Board, emphasized her extensive experience in global industrial businesses and her proven track record. Flex remains committed to delivering innovative manufacturing solutions globally.