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Plexus Corp. - PLXS STOCK NEWS

Welcome to our dedicated page for Plexus news (Ticker: PLXS), a resource for investors and traders seeking the latest updates and insights on Plexus stock.

Plexus Corp (NASDAQ: PLXS) is a leading U.S.-based Electronic Manufacturing Services (EMS) company that specializes in providing comprehensive end-to-end solutions for the creation and distribution of complex products. The company's unique Product Realization Value Stream Service Model integrates product conceptualization, design, commercialization, manufacturing, fulfillment, and sustaining services, ensuring a seamless process for customers across various regions, including the Americas, Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC).

Plexus serves over 140 branded product companies across multiple market sectors such as networking/communications, healthcare/life sciences, industrial/commercial, and defense/security/aerospace. The company is particularly known for its ability to handle mid-to-low volume, higher complexity customer programs that require unique flexibility, advanced technology, top-notch quality, and stringent regulatory compliance.

Recently, Plexus has demonstrated a strong commitment to shareholder value by announcing a new $50 million share repurchase program. According to Todd Kelsey, the Chief Executive Officer, this initiative is aimed at returning excess cash to shareholders and creating long-term value by leveraging current market conditions.

Financially, Plexus continues to focus on delivering excellent customer service, managing operational costs efficiently, and generating cash flow. The company's fiscal first-quarter 2024 results are set to be disclosed following market close on January 24, 2024, with a detailed update to be provided during a conference call on January 25, 2024. The results and accompanying materials will be accessible via an audio webcast in the investor relations section of the Plexus website.

Plexus’ commitment to innovation and quality, coupled with its strategic approach to growth and shareholder value, solidifies its position as a significant player in the EMS industry.

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Plexus (NASDAQ: PLXS) announced it will release its fiscal third quarter 2024 results after the market closes on July 24, 2024. The company's management will discuss the results during a conference call on July 25, 2024, at 8:30 a.m. Eastern Time. Interested parties can access the audio webcast and accompanying slides through the investor relations section of the Plexus website, plexus.com. The webcast, which will include insights from the earnings call, will be archived and available on-demand for 12 months.

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Plexus Corp. (NASDAQ: PLXS) released its fiscal 2023 Sustainability Report, emphasizing their advances in sustainable business practices. Key achievements include a 8.4% reduction in energy intensity across manufacturing sites, joining the UN Global Compact, and launching Employee Resource Groups for Veterans and LGBTQIA+ members. The report also highlights over $1 million in global donations and nearly 20,000 paid volunteer hours. Plexus aims to lower the global warming potential of products by assessing emissions reduction opportunities and expanding technical capabilities for more sustainable manufacturing. CEO Todd Kelsey and Sr. Director Megan Schleicher emphasized the company's commitment to sustainability and the impact of their initiatives.

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Plexus (NASDAQ: PLXS) announced its participation in the 2024 Stifel Cross Sector Insight Conference in Boston, MA, on June 4, 2024.

A fireside chat with Plexus’ management team will take place at 2:25 p.m. Eastern Time and will be accessible via live webcast, which will be available for replay for 90 days.

Participants can join the live event through the provided link.

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Cohu, Inc. (NASDAQ: COHU) has appointed Karen M. Rapp to its Board of Directors. Ms. Rapp brings extensive experience in corporate development, financial management, and information technology. With a background in leading companies like National Instruments Corp. and NXP Semiconductors N.V., her expertise will be valuable for Cohu's strategic growth.

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Plexus Corp. (NASDAQ: PLXS) announces fiscal second quarter financial results with revenue of $967 million, GAAP operating margin of 3.0%, and GAAP diluted EPS of $0.58. Non-GAAP operating margin was 4.2% and non-GAAP diluted EPS was $0.94. Initiates fiscal third quarter revenue guidance of $960 million to $1.00 billion with GAAP diluted EPS of $0.80 to $0.95. Won 32 manufacturing programs worth $255 million. Generated free cash flow of $65 million in Q2. Revenue breakdown by segments and market sectors. ROIC of 9.9% and economic return of 1.7%. Repurchased $17.6 million of shares. Fiscal 2024 free cash flow target of approximately $100 million. Positive outlook for fiscal 2025.
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Plexus Corp. (PLXS) will announce its fiscal second quarter 2024 results on April 24, 2024, followed by a conference call on April 25, 2024. The company will provide an audio webcast for investors and analysts.
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Plexus Corp. (PLXS) will participate in the Raymond James 45th Annual Institutional Investors Conference with a fireside chat on March 4, 2024. The event will feature Plexus' management team discussing key insights and strategies.
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Plexus Corp. (PLXS) reported fiscal first quarter 2024 revenue of $983 million, a GAAP operating margin of 4.6%, and GAAP diluted EPS of $1.04, with a fiscal second quarter 2024 revenue guidance of $930 million to $970 million. The company won 30 manufacturing programs worth $261 million in annualized revenue during the quarter, and the Board of Directors approved a new $50.0 million share repurchase program. The company's CEO, Todd Kelsey, expressed confidence in the company's ability to sustain industry-leading revenue growth and returns over the long term.
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Plexus Corp. (NASDAQ: PLXS) announced that it will not meet its fiscal first quarter revenue guidance, attributing the shortfall to market-driven inventory corrections and weaker demand from the Healthcare/Lifesciences and Industrial market sectors. The company now expects lower revenue, operating margin, and EPS for the quarter. Despite this, the CEO remains confident in the long-term strategy, emphasizing customer service excellence, cost management, and cash generation. The company also approved a new $50 million share repurchase program.
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Plexus Corp. (NASDAQ: PLXS) has received notification that its China subsidiary, Plexus Xiamen, will be removed from the Bureau of Industry and Security’s Unverified List due to a delay in routine verification of a shipment, swiftly rectified through strong cooperation. The Department of Commerce is expected to publish the removal in January 2024. Plexus remains committed to compliance with U.S. export control laws.
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FAQ

What services does Plexus Corp provide?

Plexus Corp specializes in product conceptualization, design, commercialization, manufacturing, fulfillment, and sustaining services.

Which market sectors does Plexus serve?

Plexus serves the networking/communications, healthcare/life sciences, industrial/commercial, and defense/security/aerospace sectors.

What regions does Plexus operate in?

Plexus operates in the Americas, Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC) regions.

How does Plexus enhance shareholder value?

Plexus enhances shareholder value through strategic cash management, including a $50 million share repurchase program.

When will Plexus release its fiscal first-quarter 2024 results?

Plexus will release its fiscal first-quarter 2024 results after market close on January 24, 2024.

How can I access the fiscal first-quarter 2024 results update from Plexus?

The update will be available via an audio webcast in the investor relations section of the Plexus website on January 25, 2024.

What makes Plexus unique in the EMS industry?

Plexus is unique for its ability to handle mid-to-low volume, higher complexity programs with flexibility, advanced technology, and stringent quality and regulatory standards.

Who is the current CEO of Plexus Corp?

Todd Kelsey is the current Chief Executive Officer of Plexus Corp.

How does Plexus ensure the quality of its services?

Plexus integrates product conceptualization, design, commercialization, manufacturing, fulfillment, and sustaining services to ensure comprehensive quality.

Where can I find more information about Plexus' investor relations?

More information about Plexus' investor relations can be found on the company’s website, plexus.com, in the investor relations section.

Plexus Corp.

Nasdaq:PLXS

PLXS Rankings

PLXS Stock Data

3.03B
27.39M
1.96%
100.01%
1.45%
Bare Printed Circuit Board Manufacturing
Manufacturing
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United States of America
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