Welcome to our dedicated page for Flex news (Ticker: FLEX), a resource for investors and traders seeking the latest updates and insights on Flex stock.
Flex Ltd (FLEX) delivers cutting-edge electronics design and manufacturing solutions across industries like automotive, healthcare, and data centers. This page provides investors and professionals with verified company news, including press releases and strategic updates.
Access comprehensive coverage of earnings announcements, product innovations, and supply chain developments. Our curated repository ensures you stay informed about operational milestones, leadership changes, and market expansions without speculative commentary.
Key updates include advancements in Flex Agility Solutions for consumer tech markets and Flex Reliability Solutions for industrial applications. Bookmark this page for real-time insights into how FLEX addresses power distribution challenges and scales manufacturing for AI-driven industries.
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SAN JOSE, Calif., Feb. 22, 2023 /PRNewswire/ -- Flex (NASDAQ: FLEX) announced that its leadership team will participate in the Raymond James 2023 Institutional Investors Conference on March 7, 2023. The presentation is scheduled for 11:15 am PT / 2:15 pm ET and will be accessible via live webcast on the Flex Investor Relations website. An archived replay will be available after the event. Flex is recognized as a leading manufacturing partner, delivering innovative technology and supply chain solutions globally across various industries.
Flex Ltd. (NASDAQ: FLEX) announced the full exercise of the underwriters' option to purchase an additional 3,990,000 shares of Nextracker's Class A common stock at $24.00 per share, part of an upsized initial public offering totaling 26,600,000 shares. The offering's net proceeds are expected to be approximately $693.8 million, aimed at purchasing 30,590,000 LLC Common Units from Nextracker's parent company. J.P. Morgan, BofA Securities, Citigroup, and Barclays are joint lead book-running managers for the offering, which was made effective by the SEC on February 8, 2023.
Flex Ltd. announced that its subsidiary, Nextracker Inc., has priced an upsized initial public offering (IPO) of 26,600,000 shares of Class A common stock at $24.00 per share. Trading on Nasdaq under the symbol 'NXT' is set to begin on February 9, 2023, with the offering closing on February 13, 2023, barring any customary conditions. The offering includes a 30-day option for underwriters to purchase an additional 3,990,000 shares. Major banks managing the offering include J.P. Morgan and BofA Securities. A registration statement was declared effective by the SEC on February 8, 2023.
Flex Ltd. (NASDAQ: FLEX) announced the launch of a roadshow for its subsidiary Nextracker Inc.'s initial public offering (IPO) of 23,255,814 shares of Class A common stock. The IPO price is anticipated between $20.00 and $23.00 per share, with an additional 30-day option for underwriters to purchase 3,488,372 more shares. Nextracker, a leader in solar tracking technology, aims to list its shares on the Nasdaq under the ticker symbol NXT. Major financial institutions involved include J.P. Morgan, BofA Securities, and Citigroup as joint lead managers.
Our Next Energy Inc. (ONE), based in Michigan, has successfully closed a $300 million Series B fundraising at a post-money valuation of $1.2 billion. Led by Fifth Wall and Franklin Templeton, this round also includes $220 million in state grants, totaling over $500 million to support the construction of ONE's battery cell factory. The company has secured ten customer agreements for a total of 36 GWh over five years and is advancing plans for additional factory investments ahead of schedule. CEO Mujeeb Ijaz highlighted this milestone as crucial for scaling up U.S.-based cell manufacturing, aligning with the urgent demand driven by the Inflation Reduction Act.
Flex (NASDAQ: FLEX) announced its third-quarter fiscal results for 2023, reporting net sales of $7.8 billion and a GAAP operating income of $321 million. GAAP net income reached $230 million, resulting in a GAAP earnings per share of $0.50. Adjusted figures showed an operating income of $372 million and adjusted net income at $285 million, translating to adjusted EPS of $0.62. For Q4, Flex provided guidance of $7.0 billion to $7.4 billion in revenue and GAAP EPS of $0.37 to $0.43. The updated fiscal year revenue guidance is between $29.9 billion and $30.3 billion.
Nextracker, a subsidiary of Flex, has filed a registration statement with the SEC for a proposed initial public offering (IPO) of its Class A common stock under the ticker symbol NXT. The specific details regarding the number of shares and pricing are still to be determined, with the offering subject to market conditions. Notable underwriters involved include J.P. Morgan, BofA Securities, Citigroup, and Barclays. This move aims to enhance Nextracker's position as a leading provider of solar tracker solutions in the renewable energy sector.
Flex (NASDAQ: FLEX) will release its third quarter fiscal 2023 financial results on January 25, 2023, after market close. A conference call will follow at 1:30 p.m. PT to discuss these results. Investors can access the live webcast on the company’s investor relations website. Flex is a global manufacturing partner, providing innovative solutions across various industries, backed by a workforce operating in 30 countries.
