Flex (FLEX) Stock News

Nextracker (NXT), a leading solar energy solutions provider, has strengthened its Board of Directors with three strategic appointments. Monica Karuturi, current executive VP and general counsel of CenterPoint Energy, brings expertise in corporate strategy, finance, and governance. Mark Menezes, president and CEO of the United States Energy Association (USEA), contributes significant energy policy experience from his roles including Deputy Secretary of the U.S. Department of Energy. Jeffrey Guldner, former president, CEO, and chairman of Pinnacle West Capital Corporation and Arizona Public Service Company (APS), adds extensive utility sector leadership experience. These appointments enhance Nextracker's board expertise in energy policy, regulation, corporate governance, and strategic growth as the company continues to expand its global operations.

Flex (NASDAQ: FLEX) has announced a strategic collaboration with MIT's Initiative for New Manufacturing (INM) as a founding member of its Industry Consortium. The partnership aims to revolutionize manufacturing through AI and automation, focusing on four core pillars: reimagining manufacturing technologies, enhancing productivity, scaling resilient supply chains, and transforming global manufacturing with sustainability focus. MIT students will gain hands-on experience through a factory observatory program at Flex facilities, while faculty and researchers will work at Flex's Sorocaba, Brazil site with the Flex Institute of Technology. The collaboration will support projects applying AI, machine automation, and new system-level approaches to address manufacturing and supply chain challenges.

Flex (NASDAQ: FLEX) has been awarded the 2025 Sustainability Supplier of the Year by Ford Motor Company, recognizing their excellence in sustainable manufacturing and leadership in emissions transparency initiatives. The company was specifically honored for developing the automotive industry's first product carbon footprint tracking pilot, built on Catena-X standards, which aims to solve the challenge of tracking emissions at the product level across the value chain. The collaboration between Flex and Ford demonstrates their shared commitment to advancing sustainability in automotive manufacturing. Flex's sustainability strategy encompasses science-based environmental actions, workplace safety, ethical business practices, community investment, and sustainable value chain development.

SolarEdge Technologies has achieved a significant milestone at its Austin, Texas manufacturing facility, producing its 250,000th solar inverter in partnership with Flex. Governor Greg Abbott declared June 2, 2025, as 'SolarEdge-Flex Manufacturing Milestone Day' to commemorate this achievement. The facility has created over 1,000 high-quality jobs and strengthened domestic manufacturing capabilities. The partnership has contributed to the deployment of SolarEdge products across 3.7 million homes and more than half of Fortune 100 companies. The Austin facility employs advanced manufacturing technologies, including automation and robotics, to ensure efficient production while strengthening U.S. energy infrastructure and reducing dependence on foreign components.

Flex (NASDAQ: FLEX) announced that its leadership team will participate in the Bank of America 2025 Global Technology Conference on June 4, 2025. The presentation is scheduled for 1:20pm PT / 4:20pm ET and will be accessible via live webcast through the Flex Investor Relations website. Interested parties can access the presentation at investors.flex.com, and an archived replay will be made available shortly after the presentation concludes.

Nextracker (NXT) has achieved a significant milestone by surpassing 10 gigawatts (GW) of solar tracker deployments in India, with 1.8 GW added in the last quarter alone. The company is expanding its presence with a new 80,000 sq. ft. office and R&D facility in Hyderabad, its largest outside the US. The facility includes a 13-acre Center for Solar Excellence (CFSE) supported by a $1 million investment. Notable achievements include a 305 MW project with ReNew in Anantapur and 1.5 GW of projects through EPC partnerships. Under the 'Make in India' initiative, 95% of Nextracker's tracker components are manufactured domestically. The company employs over 400 people in India and is expanding its workforce across engineering, manufacturing, and customer support roles.

JetCool, a Flex (NASDAQ: FLEX) company, has launched its next-generation SmartPlate™ System, a self-contained liquid cooling solution now available for select Dell PowerEdge systems. The innovative cooling system delivers 15% IT power savings in third-party thermal testing without requiring facility water or infrastructure changes.

The fully sealed, direct-to-chip liquid cooling solution enables higher compute density in colocation facilities and data centers without water hookups, while maintaining consistent performance in warm ambient temperatures. JetCool provides full-stack liquid cooling solutions, service, and support for Dell PowerEdge servers, leveraging Flex's global presence and manufacturing capabilities.

Nextracker (NXT) reported strong Q4 FY25 financial results with record revenue of $924 million, up 26% year-over-year. The company achieved GAAP net income of $158 million and diluted EPS of $1.05. For the full fiscal year, Nextracker reached record revenue of approximately $3 billion with backlog exceeding $4.5 billion.

Key highlights include successful product adoption with over 9 GW of NX Horizon Hail Pro bookings and 17 GW of XTR solar trackers sold in FY25. The company expanded its global presence to over 40 countries and announced the acquisition of Bentek Corporation for $78 million to launch its electrical balance-of-systems business.

Looking ahead, Nextracker provided FY26 guidance with revenue projected at $3.2-3.4 billion and adjusted EBITDA of $700-775 million. The company ended FY25 with a strong financial position, generating $622 million in free cash flow and holding over $766 million in cash with no debt.

Nextracker (NXT) has acquired Bentek Corporation for approximately $78 million in an all-cash transaction including future contingent earnout. The acquisition adds electrical balance of system (eBOS) products to Nextracker's solar tracker platform, enabling streamlined procurement and project logistics from a single source.

Bentek's eBOS solutions include trunk bus solutions, combiner box solutions, and configurable harness solutions, all meeting North American safety standards. The acquisition enhances Nextracker's domestic supply chain position through Bentek's U.S. fabrication footprint. Bentek's products have demonstrated exceptional field reliability over 15 years of operation.