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. 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 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.