Flex Ltd Stock Price, News & Analysis

Nextracker (NXT) and UC Berkeley Engineering have announced a strategic partnership to establish the CALNEXT Center for Solar Energy Research, supported by Nextracker's $6.5 million contribution. The center aims to advance solar power plant technology and develop engineering leaders for future energy needs.

The initiative will include a leading-edge research program and a planned state-of-the-art solar test field. The center will focus on enhancing power plant performance and operations, while integrating cutting-edge solar technologies into UC Berkeley's engineering and environmental science programs. Students will benefit from hands-on learning experiences, access to industry tools, and Nextracker's internship and mentoring programs.

The center was established through collaboration between Tarek Zohdi (associate dean for research at UC Berkeley Engineering and CALNEXT director), Francesco Borrelli (professor of mechanical engineering and co-director), and Alex Au (Nextracker's co-founder and CTO).

Flex (NASDAQ: FLEX) has scheduled its third quarter fiscal 2025 earnings announcement and conference call. The company will release its financial results before market opening on Wednesday, January 29, 2025. A conference call to discuss the results will be held the same day at 7:30 AM (CT) / 8:30 AM (ET).

The earnings presentation will be accessible via live webcast on the Flex Investor Relations website at investors.flex.com. Following the event, the webcast replay and supporting materials will be made available on the IR website.

Nextracker (NXT) has scheduled its third quarter fiscal 2025 financial results announcement for Tuesday, January 28, 2025, after market close. The company will host a conference call to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.

Investors can access the live webcast through the company's investor relations website at investors.nextracker.com. Following the event, a replay of the webcast and supporting materials will be made available on the same platform.

Nextracker (NXT) has announced that its Founder and CEO, Dan Shugar, will participate in a fireside chat at the Goldman Sachs Energy, CleanTech & Utilities Conference. The session is scheduled for January 7, 2025, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Interested parties can access the live webcast through investors.nextracker.com. A replay of the webcast will be made available on Nextracker's IR website after the event concludes.

Flex's Zhuhai, China facility has been awarded the AME Excellence Award for demonstrating world-class continuous improvement and manufacturing excellence. This marks Flex's third consecutive annual Excellence Award recognition. The facility, which specializes in advanced assembly, tool design and manufacturing, and metal and plastics capabilities for Lifestyle and Data Center customers, was evaluated on criteria including organizational improvement, management systems, and people-centric leadership.

The Zhuhai site, which began its lean journey over 15 years ago, has implemented hundreds of employee-driven improvement ideas and leverages lean and Six Sigma practices for automation and digitization. The facility serves various industries, providing solutions for floor care, personal care products, audio displays, servers, and data storage appliances, offering capabilities in metal punching, hardware insertion, assembly, and comprehensive plastics manufacturing.

Nextracker (NXT) has achieved a significant milestone by delivering the first 100% domestic content solar trackers in the U.S. market. The initial delivery is for SB Energy's Pelican's Jaw project, a 570 MW solar and 954 MWh storage facility under construction by SOLV Energy.

Since 2021, Nextracker has expanded its local manufacturing infrastructure to over 25 U.S. factories with 30 GW of annual capacity. This localization strategy aims to reduce lead times, enhance supply chain security, and provide superior performance and flexibility throughout project lifecycles. The company's domestic manufacturing initiative also supports the creation of U.S. jobs, with the solar industry currently supporting 279,000 positions nationwide.

Flex (NASDAQ: FLEX) has appointed Kevin S. Krumm as its new Chief Financial Officer, effective January 6, 2025. Krumm, who brings over 20 years of experience across industrial, chemical, and healthcare industries, will succeed interim CFO Jaime Martinez. Previously serving as EVP and CFO at APi Group and holding various roles at Ecolab Inc., Krumm will report to CEO Revathi Advaithi and focus on driving the company's long-term financial strategy and creating shareholder value.

Flex (NASDAQ: FLEX) has completed its $325 million all-cash acquisition of Crown Technical Systems, a leader in power distribution and protection systems. The acquisition enhances Flex's exposure to growing markets, including modular data center adoption and medium voltage power distribution, while extending its power portfolio into the utility power market. Crown Technical Systems is projected to generate approximately $120 million in revenue with high-teens EBITDA margin in fiscal 2025. The acquired company will be integrated into Flex's Industrial Business unit within the Reliability Solutions segment.

Flex (NASDAQ: FLEX) has acquired JetCool Technologies, a leading liquid cooling company for data centers, to enhance its data center and power portfolio. The acquisition strengthens Flex's ability to address increasing power, thermal density, and cooling requirements for AI workloads and high-performance computing. JetCool, founded in 2019 and based in Massachusetts, provides advanced liquid cooling solutions including cold plates, direct liquid-to-chip products, and complete cooling systems. Their recent Coolant Distribution Unit can cool racks up to 300kW and scale to over 2MW cooling capacity. The integration combines JetCool's cooling technologies with Flex's IT infrastructure expertise and global manufacturing capabilities.