Flex Ltd Stock Price, News & Analysis

Flex (NASDAQ: FLEX) has been awarded Cisco's 2024 Excellence in ESG award at Cisco's annual Supplier Appreciation Event. The award recognizes Flex's leadership in sustainability, social governance, and corporate citizenship, exceeding Cisco's Supplier Code of Conduct standards.

The announcement was made at Cisco's 33rd consecutive Supplier Appreciation Event, where hundreds of executives from Cisco's component suppliers and partners gathered. Rob Campbell, President of Communications, Enterprise and Cloud at Flex, emphasized the importance of collaboration across the value chain for advancing global sustainability. The recognition highlights Flex's commitment to sustainable manufacturing practices and responsible operations.

Nextracker (Nasdaq: NXT) announced its Q2 FY25 financial results, reporting revenue of $636 million, a GAAP Gross Profit of $225 million, and a GAAP Net Income of $117 million. The GAAP Diluted EPS stood at $0.79. Adjusted metrics showed Gross Profit at $228 million and Net Income at $145 million, with Adjusted Diluted EPS of $0.97. The company highlighted strong demand and execution, leading to a reaffirmed FY25 revenue outlook of $2.8 to $2.9 billion and a raised profit outlook. GAAP Net Income is projected between $378 to $408 million, and Adjusted EBITDA is expected at $625 to $665 million.

Business highlights include the unveiling of NX Foundation Solutions, signing 100% U.S. domestic content project contracts, and expanding the manufacturing footprint. The company also inaugurated India's first R&D Center for Solar Excellence in Hyderabad.

Flex (NASDAQ: FLEX) reported its Q2 fiscal 2025 results with net sales of $6.5 billion and GAAP net income of $214 million. The company achieved GAAP EPS of $0.54 and adjusted EPS of $0.64. For Q3 FY2025, Flex projects revenue between $6.0-6.4 billion and GAAP EPS of $0.42-0.48. The company updated its FY2025 guidance, expecting revenue of $24.9-25.5 billion and GAAP EPS of $1.77-1.89. The quarter also featured the announcement of the pending Crown Technical Systems acquisition, aimed at expanding into higher value markets.

Nextracker (NXT) has released its first Sustainability Report for 2024, marking a significant milestone since becoming independent in January 2024. The report outlines the company's comprehensive Environmental, Social, and Governance (ESG) strategy and achievements, including completion of its first materiality assessment.

Key highlights include environmental initiatives such as ISO 14001 certification in Brazil, emissions measurement, and climate risk assessment. Social achievements encompass ISO 45001 certification for U.S. operations, DEI policies, and community programs. The company has established governance structures including an ESG Executive Council and is committed to the Science Based Targets initiative (SBTi) for emissions reduction.

Flex (NASDAQ: FLEX) has announced its plan to acquire Crown Technical Systems, a leader in custom-engineered power distribution and protection systems, for $325 million in an all-cash transaction. The acquisition is expected to be accretive in the first year after closure and strengthen Flex's position in solving power, heat, and scale challenges in the data center space. Crown Technical Systems brings nearly three decades of expertise in modular solutions, medium voltage switchgear, and control products, serving diverse customers in utilities, data centers, and power generation.

The deal is projected to increase Flex's exposure to fast-growing, margin accretive end-markets and extend its power portfolio into the utility power market. Crown Technical Systems is expected to generate revenue of approximately $120 million with high-teens EBITDA margin in fiscal 2025. The transaction is anticipated to close by December 2024, subject to customary closing conditions and regulatory approval.

Flex (NASDAQ: FLEX) has unveiled new reference platforms for liquid-cooled servers, racks, and power products at the 2024 OCP Global Summit, aimed at enabling sustainable data center growth. These innovations address challenges related to power, heat generation, and scale for AI and high-performance computing workloads.

Key announcements include:

• Customizable compute reference designs with JetCool's SmartPlate™ direct-to-chip liquid cooling solution
• A next-generation modular compute platform supporting Host Processor Module (HPM)
• Open Rack V3 (ORv3) compatible solutions for various rack configurations
• New Intermediate Bus Converters (IBC) for AI and cloud applications

Flex's comprehensive offerings span from advanced manufacturing to product lifecycle services, supporting the mass deployment of vertically integrated data center solutions.

Nextracker (Nasdaq: NXT) has announced that it will release its second quarter fiscal 2025 financial results after the market closes on Wednesday, October 30, 2024. The company will host a conference call to discuss these results on the same day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

Investors and interested parties can access a live webcast of the earnings call on the Nextracker investor relations website at investors.nextracker.com. Following the conclusion of the event, a webcast replay and supporting materials will be made available on the same website for those unable to attend the live call.

Flex (NASDAQ: FLEX) has announced the date for its second quarter fiscal 2025 earnings call. The company will release its financial results before the market opens on Wednesday, October 30, 2024. A conference call to discuss the results is scheduled for the same day at 7:30 AM (CT) / 8:30 AM (ET).

Investors and interested parties can access the live webcast presentation on the Flex Investor Relations website at investors.flex.com. Following the event, a webcast replay and supporting materials will be made available on the IR website for those unable to attend the live call.

Nextracker (Nasdaq: NXT), a global provider of intelligent solar trackers, has inaugurated India's first Center for Solar Excellence (CFSE) in Hyderabad. The 13-acre facility aims to advance solar tracker technology and accelerate the region's energy transition. The CFSE features a 30,000 square foot lab, a comprehensive solar tracker installation, and training facilities covering the entire project lifecycle.

The center will focus on developing, testing, and commercializing proprietary technologies in collaboration with supply chain partners, customers, and third-party laboratories. Nextracker has already delivered over 35 utility-scale projects in India, totaling over 5 GW of projects, with 95% content under Make in India for their products. The company aims to develop high-performance solar trackers that enhance energy capture, particularly during peak periods in the early morning and late afternoon.