Welcome to our dedicated page for Flex news (Ticker: FLEX), a resource for investors and traders seeking the latest updates and insights on Flex stock.
Flex Ltd (FLEX) delivers cutting-edge electronics design and manufacturing solutions across industries like automotive, healthcare, and data centers. This page provides investors and professionals with verified company news, including press releases and strategic updates.
Access comprehensive coverage of earnings announcements, product innovations, and supply chain developments. Our curated repository ensures you stay informed about operational milestones, leadership changes, and market expansions without speculative commentary.
Key updates include advancements in Flex Agility Solutions for consumer tech markets and Flex Reliability Solutions for industrial applications. Bookmark this page for real-time insights into how FLEX addresses power distribution challenges and scales manufacturing for AI-driven industries.
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Flex (NASDAQ: FLEX) has successfully completed its $540 million acquisition of Anord Mardix, enhancing its Industrial business. Anord Mardix, a leader in critical power solutions, is expected to generate about $360 million in revenue for calendar year 2021. The acquisition aims to bolster Flex's capabilities in the rapidly growing data center market and is projected to positively impact adjusted earnings per share and EBITDA margins in fiscal year 2023. This strategic move aligns with Flex's focus on higher margin sectors in the power solutions landscape.
Flex (NASDAQ: FLEX) will participate in Nasdaq's 45th Investor Conference on December 2, 2021, at 6:30am PT / 9:30am ET. Chief Financial Officer Paul Lundstrom and Vice President of Investor Relations David Rubin will represent the company. The presentation will be available as a live webcast and archived replay on the Flex Investor Relations website. Flex is a global leader in manufacturing solutions, committed to sustainable operations and serving diverse industries worldwide.
Flex (NASDAQ: FLEX) has appointed Cameron Carr as Chief Strategy Officer, effective immediately. Carr previously led competitive strategy at Microsoft, overseeing a team managing a significant portion of the company's $50B U.S. revenue and shaping strategic investment initiatives. His role at Flex will focus on driving market and strategic leadership within the manufacturing sector. CEO Revathi Advaithi emphasized Carr's expertise in strategic development as critical to enhancing Flex's competitive position in sustainable manufacturing.
Flex reported a strong second quarter for fiscal year 2022, ending October 1, 2021, with net sales of $6.2 billion and a GAAP net income of $336 million. The GAAP earnings per share (EPS) was $0.69, boosted by a favorable tax ruling. Adjusted EPS stood at $0.48, reflecting operational success amidst supply chain challenges. For Q3 FY22, the company forecasts revenue between $6.1 billion to $6.5 billion and GAAP EPS between $0.30 to $0.36. Fiscal year guidance is updated to anticipate revenue of $24.8 billion to $25.8 billion.
Bertram Capital announced the acquisition of its portfolio company Anord Mardix by Flex (NASDAQ: FLEX) for $540 million in cash. This all-cash transaction enhances Flex's position in the critical power solutions market for data centers and industrial sectors. The deal has received unanimous approval from Flex's Board and is expected to finalize in Q4 2021, pending regulatory conditions. Anord Mardix, based in Kendal, UK, is recognized for its expertise in manufacturing high-value power products and services, catering to major clients across North America, Europe, and Asia.
Assembly Ventures has announced a US$25 million Series A investment in Our Next Energy Inc (ONE), a Michigan-based energy storage startup. ONE aims to double electric vehicle range while reducing costs and ensuring safer battery chemistries. The investment comes from a consortium that includes Flex, BMW i Ventures, and Breakthrough Energy Ventures. Funds will accelerate ONE's growth and R&D as it prepares for commercialization. Assembly Ventures emphasizes the uniqueness of ONE's technology in enhancing battery performance and safety.
Flex has announced a definitive agreement to acquire Anord Mardix, a leader in critical power solutions, for $540 million in cash. The deal, approved by Flex's Board of Directors, is expected to close in Q4 2021, pending regulatory approvals. This acquisition enhances Flex's power product portfolio and positions it to better serve the growing data center market, projected to reach a $10 billion addressable market by 2026 with a 9% CAGR. Anord Mardix is forecasted to generate approximately $360 million in revenue in 2021, and the acquisition is anticipated to be accretive to adjusted EPS in fiscal 2023.
Our Next Energy Inc. (ONE) announced a successful $25 million Series A capital raise led by Breakthrough Energy Ventures. The funding will help accelerate product development for its innovative battery technologies, including Aries™, designed to enhance electric vehicle range and reduce costs without using nickel or cobalt. Aries™ aims for an energy density of 287 Wh/L, while another technology, Gemini™, targets 450 Wh/L, potentially allowing EVs to travel over 750 miles on a single charge.
Flex will report its second quarter fiscal year 2022 financial results on October 27, 2021, after market close. A conference call will follow at 1:30 p.m. PT to discuss the results. Investors can join the call by dialing 877-201-0168 with passcode Q2Flex, or listen via webcast on the Flex Investor Relations website. An audio replay and transcript will be accessible post-call. Flex, a leading manufacturing partner, operates in 30 countries and provides technology innovations and supply chain solutions to various industries.
Flex (NASDAQ: FLEX) has appointed Xavier Boza as the new chief human resources officer, reporting directly to CEO Revathi Advaithi. Boza brings 25 years of HR experience, previously serving as CHRO for Campbell's Soup Company where he managed global HR functions through significant organizational changes. His expertise will enhance Flex's human capital strategy, focusing on employee experience and diversity. Flex operates with over 160,000 employees across 30 countries, emphasizing a strong global workforce and sustainable HR practices.
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