Flex Ltd Stock Price, News & Analysis

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.

Flex (NASDAQ: FLEX) announced the appointment of Christopher Butler as President of the Industrial Business, effective immediately. Reporting to Becky Sidelinger, Butler will oversee business planning and strategy for the Core Industrial and Power markets. He brings over 25 years of experience from Eaton Corporation, where he held leadership positions in the Critical Power and Digital Infrastructure Division. His expertise is expected to enhance growth and innovation for Flex's industrial customers.

Flex (NASDAQ: FLEX) announced its participation in two upcoming investor conferences. The Citi's 2022 Global Technology Conference will take place on September 7, 2022, with a presentation at 10:00am PT. The Goldman Sachs Communacopia + Technology Conference is scheduled for September 12, 2022, at 11:30am PT. Both presentations will be available as live webcasts on the Flex Investor Relations website, with archived replays accessible shortly after each event. Flex is known for delivering technology innovation and manufacturing solutions across diverse industries.

Flex has been awarded Lenovo EMEA Logistics Supplier of the Year for the fourth consecutive year, recognizing its effective fulfillment services that adapt to changing market demands. The award was presented at Lenovo's recent Global Logistics Suppliers Conference, highlighting Flex's ability to enhance Lenovo's supply chain amid significant challenges. Flex's services facilitated increased volumes across Lenovo's various business lines, including PCs and mobile devices, showcasing the company's resilience in a volatile market.

Flex (NASDAQ: FLEX) reported strong Q1 FY2023 results, achieving net sales of $7.3 billion, with a GAAP net income of $189 million and adjusted net income of $255 million.

The company posted GAAP EPS of $0.40 and adjusted EPS of $0.54. Looking ahead, Flex expects Q2 revenue between $7.0 billion and $7.4 billion, and updated fiscal year guidance with revenue projected at $28.4 billion to $29.4 billion.

Flex will announce its first quarter fiscal 2023 financial results after market close on July 27, 2022. A conference call will follow that day at 1:30 PM PT to discuss these results. Investors can access the live webcast on the Flex Investor Relations website, where the replay will also be available. Flex, a leading manufacturing partner, supports various industries by providing technology innovation and sustainable operations across 30 countries.