Plexus Corp - PLXS STOCK NEWS

Plexus reported record fiscal fourth quarter revenue of $913 million, exceeding guidance expectations and contributing to a total fiscal year revenue of $3.4 billion, a 7% increase from the previous year. The fourth quarter GAAP diluted EPS was $1.26, including $0.23 stock-based compensation. For the fiscal first quarter of 2021, the company projects revenue between $810 million and $850 million with GAAP diluted EPS guidance of $1.02 to $1.17. Free cash flow reached $160 million for the year, indicating solid financial stability.

Plexus (NASDAQ: PLXS) will release its fiscal Q4 2020 results on October 28, 2020, after market close. A conference call will follow on October 29, 2020, at 8:30 a.m. ET. Investors can access the call via webcast on the company's website, plexus.com. The call will include discussions on the financial performance and operational insights for Q4. Key metrics and guidance are expected to be shared during the call, which will also be available for replay.

Plexus (PLXS) will release its fiscal Q4 2020 results after market close on October 28, 2020. A conference call to discuss these results will take place on October 29, 2020, at 8:30 a.m. ET. Interested participants can access the live webcast via the investor relations section of Plexus' website. The call will also be available via telephone, with a replay option thereafter. Plexus, a leading global provider of product realization services, is focused on developing complex products in regulated industries.

Plexus announced a strategic partnership with Quidel Corporation to enhance the production of the Sofia®2 Fluorescent Immunoassay Analyzer. This collaboration aims to meet the rising demand for point-of-care testing, particularly in the COVID-19 response. The Sofia®2 system is notable for delivering accurate results in under 15 minutes for various infectious diseases. Plexus will leverage its expertise in healthcare manufacturing to support this initiative, thereby contributing to improved diagnostic capabilities.

Plexus announced a partnership with Quidel Corporation on September 28, 2020, to support the manufacturing and supply chain solutions for the Sofia®2 Fluorescent Immunoassay Analyzer. This collaboration aims to meet the rising demand for point-of-care testing in the fight against COVID-19. The Sofia®2 system delivers quick, accurate diagnostic results for critical conditions, including COVID-19 and influenza. Plexus will utilize its expertise in healthcare and life sciences to enhance production capabilities, contributing significantly to healthcare providers.

Plexus (NASDAQ: PLXS) has authorized a new share repurchase program for up to $50 million of its common stock, starting after the expiration of the previous program. This initiative aims to enhance shareholder value and is expected to run through fiscal 2021. The buyback amount represents about 2% of the company's current market capitalization. While there is no specific schedule for these repurchases, Plexus intends to execute them consistently based on market conditions.

Plexus reported a record revenue of $857 million for the fiscal third quarter ending July 4, 2020, with a GAAP diluted EPS of $1.20. For the fiscal fourth quarter, the company provides guidance of $850 to $890 million in revenue and $1.05 to $1.20 in GAAP diluted EPS. The company secured 35 new manufacturing programs, projecting an annualized revenue of $252 million. The operating margin reached 5.3%, the highest in three years, while return on invested capital (ROIC) stood at 12.9%, resulting in an economic return of 4.1%.

Plexus (NASDAQ: PLXS) will release its fiscal Q3 2020 results on July 22, 2020, after market close. A conference call to discuss the results is scheduled for July 23, 2020, at 8:30 a.m. Eastern Time. Investors can access the call via the company's website or by dialing +1.866.922.5180 with the passcode: 9483228. The call will also be archived for later access. Plexus has been operating since 1979, specializing in product realization and providing comprehensive solutions across industries with complex products.

Plexus (NASDAQ: PLXS) will participate in the 15th Annual Needham Virtual Technology & Media Conference on May 20, 2020. The event features a fireside chat with Plexus' management team at 10:00 a.m. Eastern Time, accessible via live webcast. Following the live session, a replay will be available for 30 days. Plexus has been a partner in product realization since 1979, focusing on design, supply chain solutions, manufacturing, and aftermarket services across various complex industries.