Flex Ltd. Ordinary Shares - FLEX STOCK NEWS

Flex (NASDAQ: FLEX) reported its third-quarter results for fiscal year 2022, revealing net sales of $6.6 billion and GAAP net income of $227 million, equating to GAAP EPS of $0.48. Adjusted metrics showed adjusted net income of $238 million and adjusted EPS of $0.50. The company provided guidance for Q4 revenue between $6.2 billion and $6.6 billion and adjusted EPS ranging from $0.41 to $0.46. For FY 2022, revenue is expected between $25.4 billion and $25.8 billion, with GAAP EPS guidance between $1.90 and $1.95.

Flex (NASDAQ: FLEX) will announce its third quarter fiscal year 2022 financial results after market close on January 26, 2022. Following the results, a conference call will be held at 1:30 p.m. PT (4:30 p.m. ET) to discuss the financial outcomes. Interested participants can join the call by dialing 877-201-0168 with passcode Q3Flex. A live webcast will be available on the Flex Investor Relations website, and recordings will be accessible post-call.

Flex (NASDAQ: FLEX) has successfully completed its $540 million acquisition of Anord Mardix, enhancing its Industrial business. Anord Mardix, a leader in critical power solutions, is expected to generate about $360 million in revenue for calendar year 2021. The acquisition aims to bolster Flex's capabilities in the rapidly growing data center market and is projected to positively impact adjusted earnings per share and EBITDA margins in fiscal year 2023. This strategic move aligns with Flex's focus on higher margin sectors in the power solutions landscape.

Flex (NASDAQ: FLEX) will participate in Nasdaq's 45th Investor Conference on December 2, 2021, at 6:30am PT / 9:30am ET. Chief Financial Officer Paul Lundstrom and Vice President of Investor Relations David Rubin will represent the company. The presentation will be available as a live webcast and archived replay on the Flex Investor Relations website. Flex is a global leader in manufacturing solutions, committed to sustainable operations and serving diverse industries worldwide.

Flex (NASDAQ: FLEX) has appointed Cameron Carr as Chief Strategy Officer, effective immediately. Carr previously led competitive strategy at Microsoft, overseeing a team managing a significant portion of the company's $50B U.S. revenue and shaping strategic investment initiatives. His role at Flex will focus on driving market and strategic leadership within the manufacturing sector. CEO Revathi Advaithi emphasized Carr's expertise in strategic development as critical to enhancing Flex's competitive position in sustainable manufacturing.

Flex reported a strong second quarter for fiscal year 2022, ending October 1, 2021, with net sales of $6.2 billion and a GAAP net income of $336 million. The GAAP earnings per share (EPS) was $0.69, boosted by a favorable tax ruling. Adjusted EPS stood at $0.48, reflecting operational success amidst supply chain challenges. For Q3 FY22, the company forecasts revenue between $6.1 billion to $6.5 billion and GAAP EPS between $0.30 to $0.36. Fiscal year guidance is updated to anticipate revenue of $24.8 billion to $25.8 billion.

Bertram Capital announced the acquisition of its portfolio company Anord Mardix by Flex (NASDAQ: FLEX) for $540 million in cash. This all-cash transaction enhances Flex's position in the critical power solutions market for data centers and industrial sectors. The deal has received unanimous approval from Flex's Board and is expected to finalize in Q4 2021, pending regulatory conditions. Anord Mardix, based in Kendal, UK, is recognized for its expertise in manufacturing high-value power products and services, catering to major clients across North America, Europe, and Asia.

Assembly Ventures has announced a US$25 million Series A investment in Our Next Energy Inc (ONE), a Michigan-based energy storage startup. ONE aims to double electric vehicle range while reducing costs and ensuring safer battery chemistries. The investment comes from a consortium that includes Flex, BMW i Ventures, and Breakthrough Energy Ventures. Funds will accelerate ONE's growth and R&D as it prepares for commercialization. Assembly Ventures emphasizes the uniqueness of ONE's technology in enhancing battery performance and safety.

Flex has announced a definitive agreement to acquire Anord Mardix, a leader in critical power solutions, for $540 million in cash. The deal, approved by Flex's Board of Directors, is expected to close in Q4 2021, pending regulatory approvals. This acquisition enhances Flex's power product portfolio and positions it to better serve the growing data center market, projected to reach a $10 billion addressable market by 2026 with a 9% CAGR. Anord Mardix is forecasted to generate approximately $360 million in revenue in 2021, and the acquisition is anticipated to be accretive to adjusted EPS in fiscal 2023.