Plexus Corp Stock Price, News & Analysis

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.

Plexus has announced its participation in the 42nd Annual Raymond James Institutional Investors Conference, scheduled for March 1-2, 2021. On March 1, at 3:50 PM ET, the company's management will engage in a fireside chat, which will be accessible via a live webcast. Participants can join the event through a provided link, and a replay will be available for 30 days post-event. Plexus, founded in 1979, is recognized for its comprehensive solutions in design, supply chain management, and manufacturing, serving industries with complex products and regulatory requirements.

Plexus reported fiscal first quarter 2021 revenue of $830 million and a GAAP diluted EPS of $1.23, exceeding guidance expectations. The company initiated second quarter revenue guidance of $860 to $900 million with EPS of $1.17 to $1.32. Notably, Plexus won 35 new manufacturing programs, projecting an annualized revenue of $223 million. The return on invested capital stood at 16.3%, with a healthy cash position of over $350 million and no debt. The outlook includes strong demand in healthcare and industrial sectors, positioning Plexus for significant growth.

Plexus (NASDAQ: PLXS) will announce its fiscal Q1 2021 results after the market closes on January 20, 2021. A conference call is scheduled for January 21, 2021, at 8:30 a.m. ET to discuss the results. The call will be accessible via a live webcast on the Plexus website, with archived playback available afterwards. The company, established in 1979, specializes in product realization services, including design, supply chain solutions, and manufacturing for complex products across various industries.

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.