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FLEX REPORTS SECOND QUARTER FISCAL 2025 RESULTS

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Flex (NASDAQ: FLEX) reported its Q2 fiscal 2025 results with net sales of $6.5 billion and GAAP net income of $214 million. The company achieved GAAP EPS of $0.54 and adjusted EPS of $0.64. For Q3 FY2025, Flex projects revenue between $6.0-6.4 billion and GAAP EPS of $0.42-0.48. The company updated its FY2025 guidance, expecting revenue of $24.9-25.5 billion and GAAP EPS of $1.77-1.89. The quarter also featured the announcement of the pending Crown Technical Systems acquisition, aimed at expanding into higher value markets.

Flex (NASDAQ: FLEX) ha riportato i risultati del secondo trimestre dell'esercizio fiscale 2025 con vendite nette di $6,5 miliardi e un utile netto GAAP di $214 milioni. L'azienda ha raggiunto un utile per azione GAAP di $0,54 e un utile per azione rettificato di $0,64. Per il terzo trimestre dell'FY2025, Flex prevede ricavi compresi tra $6,0 e $6,4 miliardi e un utile per azione GAAP di $0,42-0,48. L'azienda ha aggiornato le sue previsioni per l'FY2025, aspettandosi ricavi tra $24,9 e $25,5 miliardi e un utile per azione GAAP di $1,77-1,89. Nel trimestre è stata anche annunciata l'acquisizione in sospeso di Crown Technical Systems, mirata a espandere la presenza in mercati di maggiore valore.

Flex (NASDAQ: FLEX) informó sus resultados del segundo trimestre del año fiscal 2025 con ventas netas de $6.5 mil millones y un ingreso neto GAAP de $214 millones. La compañía logró un EPS GAAP de $0.54 y un EPS ajustado de $0.64. Para el tercer trimestre de FY2025, Flex proyecta ingresos entre $6.0 y $6.4 mil millones y un EPS GAAP de $0.42 a $0.48. La compañía actualizó su guía para FY2025, esperando ingresos de $24.9 a $25.5 mil millones y un EPS GAAP de $1.77 a $1.89. El trimestre también presentó el anuncio de la adquisición pendiente de Crown Technical Systems, destinada a expandirse en mercados de mayor valor.

Flex (NASDAQ: FLEX)는 2025 회계연도 2분기 실적을 발표하며 순매출 $6.5 billion 및 GAAP 순이익 $214 million을 기록했습니다. 회사는 GAAP 주당순이익(EPS) $0.54와 조정 주당순이익 $0.64를 달성했습니다. 2025 회계연도 3분기에 대해 Flex는 수익이 $6.0-6.4 billion 사이에 있을 것으로 예상하며, GAAP EPS는 $0.42-0.48로 예상하고 있습니다. 회사는 2025 회계연도를 위한 가이던스를 업데이트하며 수익이 $24.9-25.5 billion 및 GAAP EPS가 $1.77-1.89일 것으로 예상하고 있습니다. 이번 분기에는 가치 높은 시장으로의 확장을 목표로 하는 Crown Technical Systems의 인수 발표도 있었습니다.

Flex (NASDAQ: FLEX) a annoncé ses résultats pour le deuxième trimestre de l'exercice fiscal 2025, avec des ventes nettes de 6,5 milliards de dollars et un bénéfice net GAAP de 214 millions de dollars. L'entreprise a atteint un BPA GAAP de $0,54 et un BPA ajusté de $0,64. Pour le troisième trimestre de l'exercice fiscal 2025, Flex prévoit des revenus compris entre 6,0 et 6,4 milliards de dollars et un BPA GAAP de $0,42 à $0,48. L'entreprise a mis à jour ses prévisions pour l'exercice fiscal 2025, s'attendant à des revenus de 24,9 à 25,5 milliards de dollars et un BPA GAAP de $1,77 à $1,89. Ce trimestre a également vu l'annonce de l'acquisition en attente de Crown Technical Systems, visant à s'étendre vers des marchés de plus grande valeur.

Flex (NASDAQ: FLEX) hat die Ergebnisse für das zweite Quartal des Geschäftsjahres 2025 bekanntgegeben, mit Nettoumsätzen von 6,5 Milliarden Dollar und einem GAAP-Nettoeinkommen von 214 Millionen Dollar. Das Unternehmen erreichte ein GAAP-EPS von $0,54 und ein bereinigtes EPS von $0,64. Für das dritte Quartal FY2025 erwartet Flex einen Umsatz zwischen 6,0 und 6,4 Milliarden Dollar sowie ein GAAP-EPS von $0,42-0,48. Das Unternehmen hat seine Prognose für FY2025 aktualisiert und rechnet mit Einnahmen von 24,9 bis 25,5 Milliarden Dollar und einem GAAP-EPS von $1,77-1,89. Im Quartal wurde auch die bevorstehende Übernahme von Crown Technical Systems angekündigt, um in höherwertige Märkte zu expandieren.

Positive
  • Strong Q2 performance with $6.5 billion in net sales
  • Healthy profitability with $214 million GAAP net income
  • Strategic acquisition of Crown Technical Systems to expand in higher value markets
  • Positive full-year guidance with revenue projected at $24.9-25.5 billion
Negative
  • Sequential revenue decline expected in Q3 guidance ($6.0-6.4B vs Q2's $6.5B)
  • Lower Q3 EPS guidance ($0.42-0.48) compared to Q2 actual ($0.54)

Insights

Flex delivered a solid Q2 fiscal 2025 with $6.5 billion in revenue and adjusted EPS of $0.64. The company's margin expansion strategy continues to show progress, with adjusted operating income reaching $358 million. The guidance for Q3 suggests a slight sequential decline in revenue to $6.0-6.4 billion, but maintains healthy profitability with projected adjusted EPS of $0.60-0.66.

The pending Crown Technical Systems acquisition aligns with Flex's strategic focus on higher-value markets. The full-year guidance update, projecting $24.9-25.5 billion in revenue and adjusted EPS of $2.39-2.51, demonstrates management's confidence in sustained growth and profitability. The company's focus on margin expansion and cash generation positions it well for long-term value creation, despite near-term revenue moderation.

AUSTIN, Texas, Oct. 30, 2024 /PRNewswire/ -- Flex (NASDAQ: FLEX) today announced results for its second quarter ended September 27, 2024.

Second Quarter Fiscal Year 2025 Highlights:

  • Net Sales: $6.5 billion
  • GAAP Operating Income: $297 million
  • Adjusted Operating Income: $358 million
  • GAAP Net Income attributable to Flex Ltd: $214 million
  • Adjusted Net Income attributable to Flex Ltd: $255 million
  • GAAP Earnings Per Share: $0.54
  • Adjusted Earnings Per Share: $0.64

An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules II and V attached to this press release.

"In fiscal Q2, our teams delivered another quarter of strong results," said Revathi Advaithi, CEO of Flex. "This quarter we announced the pending Crown Technical Systems acquisition, another great example of our strategy to grow in higher value markets, and generate long-term shareholder value through continued margin expansion, EPS growth, and cash generation."

Third Quarter Fiscal 2025 Guidance

  • Revenue: $6.0 billion to $6.4 billion
  • GAAP Operating Income: $257 million to $287 million
  • Adjusted Operating Income: $335 million to $365 million
  • GAAP EPS: $0.42 to $0.48.
  • Adjusted EPS: $0.60 to $0.66 which excludes $0.08 for stock-based compensation expense, $0.07 for net restructuring charges, and $0.03 for net intangible amortization.

Fiscal Year 2025 Guidance Updated

  • Revenue: $24.9 billion to $25.5 billion
  • GAAP EPS: $1.77 to $1.89
  • Adjusted EPS: $2.39 to $2.51 which excludes $0.30 for stock-based compensation expense, $0.19 for net restructuring charges and $0.13 for net intangible amortization.

Webcast and Conference Call

The Flex management team will host a conference call today at 7:30 AM (CT) / 8:30 AM (ET), to review second quarter fiscal 2025 results. A live webcast of the event and slides will be available on the Flex Investor Relations website at http://investors.flex.com. An audio replay and transcript will also be available after the event on the Flex Investor Relations website.

About Flex

Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Contacts

Investors & Analysts
David Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com

Media & Press
Yvette Lorenz
Director, Corporate PR and Executive Communications
(415) 225-7315
Yvette.Lorenz@flex.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. securities laws, including statements related to our future financial results and our guidance for future financial performance (including expected revenues, operating income, margins and earnings per share). These forward-looking statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause the actual outcomes and results to differ materially from those anticipated by these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These risks include: that we may not achieve our expected future operating results; the effects that the current and future macroeconomic environment, including inflation, slower growth or recession, and currency exchange rate fluctuations, could have on our business and demand for our products; supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand; the impact of fluctuations in the pricing or availability of raw materials and components, labor and energy, and logistical constraints; risks related to the spin-off of Nextracker, and the transactions related thereto, including the qualification of these transactions for their intended tax treatment; risks associated with acquisitions and divestitures, including the possibility that we may not fully realize their projected benefits, including the planned Crown Technical Systems acquisition; the possibility that regulatory and other approvals and conditions to Crown Technical Systems acquisition are not received or satisfied on a timely basis or at all, or that the acquisition will not close or that the closing may be delayed; and other events that could adversely impact the completion of the acquisition or the anticipated benefits of the acquisition, including industry or economic conditions outside of our control; geopolitical risks, including impacts from the termination and renegotiation of international trade agreements and trade policies, the ongoing conflicts between Russia and Ukraine and in the Middle East, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries, any of which could lead to disruption, instability, and volatility in global markets and negatively impact our operations and financial performance; the effects that current and future credit and market conditions could have on the liquidity and financial condition of our customers and suppliers, including any impact on their ability to meet their contractual obligations to us and our ability to pass through costs to our customers; the challenges of effectively managing our operations, including our ability to control costs and manage changes in our operations; hiring and retaining key personnel; litigation and regulatory investigations and proceedings; our compliance with legal and regulatory requirements; changes in laws, regulations, or policies that may impact our business, including those related to climate change; the possibility that benefits of the Company's restructuring actions may not materialize as expected; that the expected revenue and margins from recently launched programs may not be realized; our dependence on industries that continually produce technologically advanced products with short product life cycles; the short-term nature of our customers' commitments and rapid changes in demand may cause supply chain issues, excess and obsolete inventory, and other issues which adversely affect our operating results; our dependence on a small number of customers; our industry is extremely competitive; we may be exposed to financially troubled customers or suppliers; the success of certain of our activities depends on our ability to protect our intellectual property rights and we may be exposed to claims of infringement or breach of license agreements; a breach of our IT or physical security systems, or violation of data privacy laws, may cause us to incur significant legal and financial exposure and disrupt our operations; physical and operational risks from natural disasters, severe weather events, or climate change; our ability to meet environmental, social and governance expectations or standards or achieve sustainability goals; we may be exposed to product liability and product warranty liability; that recent changes or future changes in tax laws in certain jurisdictions where we operate could materially impact our tax expense; and the impact and effects on our business, results of operations and financial condition of a public health issue, including a pandemic, or catastrophic event.

Additional information concerning these and other risks is described under "Risk Factors" and  "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K and in our subsequent filings with the U.S. Securities and Exchange Commission. Flex assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.

 

SCHEDULE I


FLEX

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)








Three-Month Periods Ended



September 27, 2024


September 29, 2023

GAAP:





Net sales

$                           6,545


$                           6,933


Cost of sales

5,998


6,411


Restructuring charges

16


3


Gross profit

531


519


Selling, general and administrative expenses

216


221


Restructuring charges

2



Intangible amortization

16


17


Operating income

297


281


Interest expense

53


49


Interest income

16


15


Other charges (income), net

(4)


14


Income from continuing operations before income taxes

264


233


Provision for (benefit from) income taxes

50


32


Net income from continuing operations

214


201


Net income from discontinued operations, net of tax


205


Net income

214


406


Net income attributable to noncontrolling interest


178


Net income attributable to Flex Ltd.

$                              214


$                              228







GAAP EPS





Diluted earnings per share from continuing operations

$                             0.54


$                             0.45


Diluted earnings per share from discontinued operations


0.06


Diluted earnings per share attributable to the shareholders of Flex Ltd.

$                             0.54


$                             0.51



Diluted shares used in computing per share amounts

400


448







See Schedule II for the reconciliation of GAAP to non-GAAP financial measures. See the accompanying notes on Schedule V attached to this press release.

 

FLEX

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)








Six-Month Periods Ended



September 27, 2024


September 29, 2023

GAAP:





Net sales

$                         12,859


$                        13,825


Cost of sales

11,825


12,810


Restructuring charges

32


20


Gross profit

1,002


995


Selling, general and administrative expenses

429


456


Restructuring charges

11


6


Intangible amortization

32


37


Operating income

530


496


Interest expense

109


105


Interest income

32


31


Other charges (income), net

(3)


25


Income from continuing operations before income taxes

456


397


Provision for (benefit from) income taxes

103


49


Net income from continuing operations

353


348


Net income from discontinued operations, net of tax


269


Net income

353


617


Net income attributable to noncontrolling interest


203


Net income attributable to Flex Ltd.

$                              353


$                              414







GAAP EPS





Diluted earnings per share from continuing operations

$                             0.87


$                             0.77


Diluted earnings per share from discontinued operations


0.15


Diluted earnings per share attributable to the shareholders of Flex Ltd.

$                             0.87


$                             0.92







Diluted shares used in computing per share amounts

405


452







See Schedule II for the reconciliation of GAAP to non-GAAP financial measures. See the accompanying notes on Schedule V attached to this press release.

 

SCHEDULE II


FLEX

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1)

(In millions, except per share amounts)








Three-Month Periods Ended



September 27, 2024


September 29, 2023






GAAP operating income

$                              297


$                              281


Intangible amortization

16


17


Stock-based compensation expense

28


28


Restructuring charges

17


1

Non-GAAP operating income

$                              358


$                              327






GAAP provision for income taxes

$                                 50


$                                 32


Intangible amortization benefit

4


3


Other tax related adjustments

15


(3)

Non-GAAP provision for income taxes

$                                 69


$                                 32






GAAP net income from continuing operations

$                              214


$                              201


Intangible amortization

16


17


Stock-based compensation expense

28


28


Restructuring charges

17


1


Legal and other



Interest and other, net

(1)


8


Adjustments for taxes

(19)


Non-GAAP net income from continuing operations

$                              255


$                              255






Diluted earnings per share from continuing operations:


GAAP 

$                             0.54


$                             0.45


Non-GAAP

$                             0.64


$                             0.57







See the accompanying notes on Schedule V attached to this press release.

 

FLEX

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1)

(In millions, except per share amounts)








Six-Month Periods Ended



September 27, 2024


September 29, 2023






GAAP operating income

$                              530


$                              496


Intangible amortization

32


37


Stock-based compensation expense

60


60


Restructuring charges

42


24


Legal and other


3

Non-GAAP operating income

$                              664


$                              620






GAAP provision for income taxes

$                              103


$                                 49


Intangible amortization benefit

7


6


Other tax related adjustments

13


6

Non-GAAP provision for income taxes

$                              123


$                                 61






GAAP net income from continuing operations

$                              353


$                              348


Intangible amortization

32


37


Stock-based compensation expense

60


60


Restructuring charges

42


24


Legal and other


3


Interest and other, net

(1)


9


Adjustments for taxes

(20)


(12)

Non-GAAP net income from continuing operations

$                              466


$                              469

Diluted earnings per share from continuing operations:


GAAP 

$                             0.87


$                             0.77


Non-GAAP

$                             1.15


$                             1.04







See the accompanying notes on Schedule V attached to this press release.

 

SCHEDULE III


FLEX

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)








As of September 27, 2024


As of March 31, 2024

ASSETS




Current assets:





Cash and cash equivalents

$                                   2,601


$                            2,474


Accounts receivable, net of allowance for doubtful accounts

3,502


3,033


Contract assets

595


249


Inventories

5,466


6,205


Other current assets

1,187


1,031

Total current assets

13,351


12,992





Property and equipment, net

2,254


2,269

Operating lease right-of-use assets, net

581


601

Goodwill

1,146


1,135

Other intangible assets, net

223


245

Other non-current assets

1,031


1,015

Total assets

$                                 18,586


$                         18,257






LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:





Bank borrowings and current portion of long-term debt

$                                       531


$                                 —


Accounts payable

5,144


4,468


Accrued payroll and benefits

473


488


Deferred revenue and customer working capital advances

2,134


2,615


Other current liabilities

1,024


968

Total current liabilities

9,306


8,539






Long-term debt, net of current portion

3,178


3,261

Operating lease liabilities, non-current

476


490

Other non-current liabilities

623


642

Total liabilities

13,583


12,932

Total Flex Ltd. shareholders' equity

5,003


5,325

Total liabilities and shareholders' equity

$                                 18,586


$                         18,257

 

SCHEDULE IV


FLEX

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)








Six-Month Periods Ended



September 27, 2024


September 29, 2023

CASH FLOWS FROM OPERATING ACTIVITIES:





Net income

$                            353


$                            617


Depreciation, amortization and other impairment charges

257


260


Changes in working capital and other, net

49


(514)


Net cash provided by operating activities

659


363






CASH FLOWS FROM INVESTING ACTIVITIES:





Purchases of property and equipment

(214)


(319)


Proceeds from the disposition of property and equipment

6


19


Other investing activities, net

2


3


Net cash used in investing activities

(206)


(297)






CASH FLOWS FROM FINANCING ACTIVITIES:





Proceeds from bank borrowings and long-term debt

499


2


Payments of bank borrowings, long-term debt and other financing liabilities

(57)


(398)


Payments for repurchases of ordinary shares

(757)


(506)


Proceeds from issuances of Nextracker shares


552


Payment for purchase of Nextracker LLC units from TPG


(57)


Other, net

(6)


(53)


Net cash used in financing activities

(321)


(460)






Effect of exchange rates on cash and cash equivalents

(5)



Net change in cash and cash equivalents

127


(394)


Cash and cash equivalents, beginning of period

2,474


3,294


Cash and cash equivalents, end of period

$                         2,601


$                        2,900

 


SCHEDULE V




FLEX AND SUBSIDIARIES
NOTES TO SCHEDULES I and II



(1)

To supplement Flex's unaudited selected financial data presented consistent with U.S. Generally Accepted Accounting Principles ("GAAP"), the Company discloses certain non-GAAP financial measures that exclude certain charges and gains, including non-GAAP operating income, non-GAAP net income and non-GAAP net income per diluted share. These supplemental measures exclude certain legal and other charges, restructuring charges, customer-related asset impairments (recoveries), stock-based compensation expense, intangible amortization, other discrete events as applicable and the related tax effects. These non-GAAP measures are not in accordance with or an alternative for GAAP and may be different from non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Flex's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Flex's results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of the Company's performance.

 


In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of the Company's operating performance on a period-to-period basis because such items are not, in our view, related to the Company's ongoing operational performance. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with forecasts and strategic plans, for calculating return on investment, and for benchmarking performance externally against competitors. In addition, management's incentive compensation is determined using certain non-GAAP measures. Also, when evaluating potential acquisitions, we exclude certain items described below from consideration of the target's performance and valuation. Since we find these measures to be useful, we believe that investors benefit from seeing results "through the eyes" of management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company's GAAP financials, provide useful information to investors by offering:

 


  • the ability to make more meaningful period-to-period comparisons of the Company's ongoing operating results;
  • the ability to better identify trends in the Company's underlying business and perform related trend analysis;
  • a better understanding of how management plans and measures the Company's underlying business; and
  • an easier way to compare the Company's operating results against analyst financial models and operating results of competitors that supplement their GAAP results with non-GAAP financial measures.

 


The following are explanations of each of the adjustments that we incorporate into non-GAAP measures, as well as the reasons for excluding each of these individual items in the reconciliations of these non-GAAP financial measures:

 


Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share units granted to employees and assumed in business acquisitions. The Company believes that the exclusion of these charges provides for more accurate comparisons of its operating results to peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact stock-based compensation expense has on its operating results.

     


Intangible amortization consists primarily of non-cash charges that can be impacted by, among other things, the timing and magnitude of acquisitions. The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes that the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors.

 


Restructuring charges include severance charges at existing sites and corporate SG&A functions as well as asset impairment, and other charges related to the closures and consolidations of certain operating sites and targeted activities to restructure the business. These costs may vary in size based on the Company's initiatives, are not directly related to ongoing or core business results, and do not reflect expected future operating expenses. These costs are excluded by the Company's management in assessing current operating performance and forecasting its earnings trends and are therefore excluded by the Company from its non-GAAP measures.

 


During the three and six-month periods ended September 27, 2024, the Company recognized approximately $17 million and $42 million of restructuring charges respectively, and during the three and six-month periods ended September 29, 2023, the Company recognized $1 million and $24 million of restructuring charges respectively. Most of these charges are related to employee severance.

 


Legal and other consist primarily of costs not directly related to core business results and may include matters relating to commercial disputes, government regulatory and compliance, intellectual property, antitrust, tax, employment or shareholder issues, product liability claims and other issues on a global basis as well as acquisition related costs. During the first half of fiscal year 2024, the Company accrued for certain loss contingencies where losses were considered probable and estimable. These costs are excluded by the Company's management in assessing current operating performance and forecasting its earnings trends and are  therefore excluded by the Company from its non-GAAP measures. No such costs were incurred in the first half of fiscal year 2025.

 


Interest and other, net consist of various other types of items that are not directly related to ongoing or core business results, such as the gain or losses related to certain divestitures, currency translation reserve write-offs upon liquidation of certain legal entities, debt extinguishment costs and impairment charges or gains associated with certain non-core investments. The Company excludes these items because they are not related to the Company's ongoing operating performance or do not affect core operations. Excluding these amounts provides investors with a basis to compare Company performance against the performance of other companies without this variability.

     


Adjustments for taxes relate to the tax effects of the various adjustments that we incorporate into non-GAAP measures in order to provide a more meaningful measure on non-GAAP net income and certain adjustments related to non-recurring settlements of tax contingencies or other non-recurring tax charges, when applicable.  During the three and six-month periods ended September 27, 2024, the Company recognized a $19 million and $20 million net tax benefit respectively, and during the six-month period ended September 29, 2023, the Company recognized a $12 million net tax benefit, related to the tax effects of various adjustments that are incorporated into non-GAAP measures.

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SOURCE Flex

FAQ

What were Flex's (FLEX) Q2 2025 earnings per share?

Flex reported GAAP earnings per share of $0.54 and adjusted earnings per share of $0.64 for Q2 fiscal 2025.

What is Flex's (FLEX) revenue guidance for fiscal year 2025?

Flex's revenue guidance for fiscal year 2025 is between $24.9 billion to $25.5 billion.

What acquisition did Flex (FLEX) announce in Q2 2025?

Flex announced the pending acquisition of Crown Technical Systems during Q2 2025.

What is Flex's (FLEX) Q3 2025 revenue guidance?

Flex's revenue guidance for Q3 fiscal 2025 is between $6.0 billion to $6.4 billion.

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