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. reports developments around its advanced manufacturing, supply chain, product design and lifecycle services for technology and industrial customers. Company news commonly covers operating results, margin trends, capital allocation, portfolio optimization and customer programs across end markets such as communications, cloud and enterprise infrastructure, consumer devices, automotive, health solutions and industrial products.
Recent company updates also cover Flex's Critical Power and data-center infrastructure capabilities, including power control, protection, cooling and scalable IT infrastructure used in utility, power generation and AI data-center applications. News may include completed acquisitions such as Electrical Power Products, expanded manufacturing partnerships, automation deployments, material agreements and governance changes tied to Flex's global manufacturing footprint.
Flex (NASDAQ: FLEX) announced its virtual investor and analyst day on March 30, 2022, at 1:30 PM PT. CEO Revathi Advaithi and CFO Paul Lundstrom will present the company’s transformation journey, growth strategies, and financial targets. This event highlights Flex's commitment to strengthening its market position and capital allocation priorities. The live webcast will be accessible via the Flex Investor Relations website, with a replay and additional materials provided post-event.
Flex (NASDAQ: FLEX) has appointed Becky Sidelinger as President of its Reliability Solutions division, which encompasses Automotive, Industrial, and Health Solutions business units. Sidelinger brings over 30 years of experience from Fortune 100 companies like Honeywell and General Electric, most recently leading a $3B revenue unit at Honeywell. CEO Revathi Advaithi expressed enthusiasm for Sidelinger's expertise in regulated industries, anticipating significant value addition as Flex enhances its Reliability Solutions segment.
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Flex (NASDAQ: FLEX) has appointed Randy Clark as President of the Health Solutions Business Unit and Rob Campbell as President of the Consumer Devices Business Unit. Randy Clark, with over 20 years in the medical industry, will lead Flex's medical portfolio, focusing on devices and drug delivery. Previously, he served at Olympus Corporation. Rob Campbell, who led profitable growth at Flex for seven years, will steer the Consumer Devices sector aimed at high-volume markets. Both leaders bring extensive experience, promising to enhance Flex's business strategy and operational execution.
Flex (NASDAQ: FLEX) has secured a $500 million investment from TPG Rise Climate for its subsidiary Nextracker, valued at $3.0 billion. This partnership aims to bolster Nextracker's market position in solar tracking solutions while utilizing TPG's expertise in renewable energy. The investment involves a convertible preferred security with a 5.0% annual dividend, set to convert during a potential IPO. The transaction supports Flex's long-term growth strategy and will separate Nextracker's operations for better focus and reporting.
Flex (NASDAQ: FLEX) has appointed Patrick J. Ward to its Board of Directors, effective January 26, 2022. Ward, a former Chief Financial Officer at Cummins Inc., brings over 30 years of financial leadership experience. He has held various senior financial roles and is currently a director and chair of the audit committee at Corteva, Inc. Flex's Chair, Michael D. Capellas, highlighted Ward's proven expertise as a significant asset to the Board. This appointment is aimed at enhancing the company's financial oversight and strategic direction.
Flex (NASDAQ: FLEX) reported its third-quarter results for fiscal year 2022, revealing net sales of $6.6 billion and GAAP net income of $227 million, equating to GAAP EPS of $0.48. Adjusted metrics showed adjusted net income of $238 million and adjusted EPS of $0.50. The company provided guidance for Q4 revenue between $6.2 billion and $6.6 billion and adjusted EPS ranging from $0.41 to $0.46. For FY 2022, revenue is expected between $25.4 billion and $25.8 billion, with GAAP EPS guidance between $1.90 and $1.95.
Flex (NASDAQ: FLEX) will announce its third quarter fiscal year 2022 financial results after market close on January 26, 2022. Following the results, a conference call will be held at 1:30 p.m. PT (4:30 p.m. ET) to discuss the financial outcomes. Interested participants can join the call by dialing 877-201-0168 with passcode Q3Flex. A live webcast will be available on the Flex Investor Relations website, and recordings will be accessible post-call.
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.