Plexus Corp. designs, manufactures and services complex products for customers in demanding regulatory environments. Its lifecycle solutions include design and development, supply chain services, new product introduction, manufacturing and sustaining services for the Aerospace/Defense, Healthcare/Life Sciences and Industrial sectors, including medical devices, aerospace and defense products, industrial automation systems and semiconductor capital equipment.
Company news commonly covers quarterly and annual results, revenue and earnings guidance, manufacturing program wins, customer manufacturing partnerships, free cash flow, share repurchases, leadership transitions and investor conference participation. Updates also reference segment and market-sector demand across the company's global electronics manufacturing and product-realization operations.
Plexus Corp. (NASDAQ: PLXS) announced the appointment of Randy J. Martinez, former President and CEO of MTS Systems Corp., to its Board of Directors. Martinez brings extensive experience from his 21-year career in the U.S. Air Force and various leadership roles in the aviation, aerospace, defense, and industrial sectors. Chairman Dean Foate expressed excitement about leveraging Martinez's insights to enhance Plexus’s leadership in complex product markets while maintaining industry-leading revenue growth and operational excellence.
Plexus reported fiscal Q3 2021 revenue of $814 million, matching revised expectations, with a GAAP diluted EPS of $0.95. The company won 31 manufacturing programs, potentially adding $275 million in annualized revenue. For Q4 2021, Plexus projects revenue between $875 million and $915 million, with an EPS guidance of $1.13 to $1.29. Operating margin is expected between 4.8% and 5.2%. The company reported a return on invested capital of 15.9%, contributing to $31 million in free cash flow.
Plexus (NASDAQ: PLXS) will release its fiscal Q3 2021 results after the market closes on July 21, 2021. The management will discuss the earnings during a conference call on July 22, 2021, at 8:30 a.m. ET. Investors can access the audio webcast and accompanying slides on the Plexus investor relations website. Replay options are also available. Plexus has been a leader in providing design, manufacturing, and supply chain solutions since 1979, serving customers in complex industries.
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Plexus (PLXS) announced a live webcast on June 8, 2021, during Stifel’s Virtual Cross Sector Insight Conference to discuss the effects of Malaysia's COVID-19 workforce curtailment on its fiscal third quarter results. The company expressed concerns about not meeting its revenue guidance of $875 to $915 million and GAAP diluted EPS of $1.23 to $1.38 previously provided on April 21, 2021. Plexus aims to ensure the safety of its team members while supporting customers amid these challenges.
Plexus (NASDAQ: PLXS) announced a temporary two-week workforce reduction mandated by the Malaysian government due to rising COVID-19 cases, impacting operations in the region. Consequently, the company anticipates missing its fiscal third quarter revenue guidance of $875 to $915 million and GAAP diluted EPS of $1.23 to $1.38. Despite these challenges, Plexus remains optimistic about future growth, targeting 9-12% annual revenue growth in fiscal 2022, supported by strong demand in key sectors such as robotic-assisted surgery and industrial automation.
Plexus (NASDAQ: PLXS) will participate in the 16th Annual Needham Virtual Technology & Media Conference on May 17, 2021, featuring a fireside chat with its management team at 11:00 am Eastern Time. The event will be accessible via a live webcast, and a replay will be available for 365 days post-event. Plexus specializes in comprehensive product realization services across various industries, focusing on complex products and regulatory challenges.
Plexus reported fiscal Q2 2021 revenue of $881 million with a GAAP diluted EPS of $1.42, which includes restructuring charges and stock-based compensation. The guidance for Q3 revenue is set between $875 and $915 million, with EPS expected to be $1.23 to $1.38. The company won 42 new manufacturing programs during the quarter, translating to $284 million in annualized revenue. Plexus also experienced a return on invested capital (ROIC) of 17.3% and plans to generate approximately $100 million in free cash flow for fiscal 2021.
Plexus (NASDAQ: PLXS) has commenced construction on a new 400,000 square foot manufacturing facility in Bangkok, Thailand, expected to be operational by the fiscal third quarter of 2022. This state-of-the-art facility will enhance Plexus' capacity in the APAC region, adding 1,800 new jobs to support future growth. Emphasizing sustainability, the facility will incorporate energy-efficient designs and green initiatives. Executive leaders believe this expansion is vital for meeting growing customer demands and reinforcing the company's operational excellence in complex market environments.
Plexus (NASDAQ: PLXS) will announce its fiscal Q2 2021 results after market close on April 21, 2021. A conference call to discuss the results is scheduled for April 22 at 8:30 a.m. ET. Participants can access the live webcast and slides through the investor relations section of Plexus' website. The company, a leader in product realization, specializes in design, development, manufacturing, and aftermarket services for complex products. For further information, visit plexus.com.