Flex Ltd. Ordinary Shares - FLEX STOCK NEWS

Flex (NASDAQ: FLEX) has been named to TIME's 2024 World's Best Companies list for the second consecutive year. This recognition is based on a comprehensive analysis of top-performing global companies, evaluating three primary dimensions: Employee Satisfaction, Revenue Growth, and Sustainability Transparency.

The ranking, presented by TIME and Statista, involved surveys conducted in over 50 countries with data from approximately 170,000 participants. Companies had to generate a revenue of at least $100 million in the last fiscal year and show positive growth from 2021 to 2023. Sustainability was evaluated based on ESG data and targeted research.

Flex CEO Revathi Advaithi expressed honor at the recognition, attributing it to the company's commitment to creating a safe, inclusive work environment, embracing sustainable manufacturing practices, and delivering long-term stakeholder value.

Flex (NASDAQ: FLEX) has released its 2024 sustainability report, showcasing the company's global sustainability performance and progress for 2023. The report highlights Flex's commitment to its 2030 sustainability strategy, focusing on minimizing environmental impact, creating a safe and inclusive work environment, investing in communities, driving ethical practices, and accelerating a sustainable value chain.

Key accomplishments in 2023 include:

• 33% decrease in absolute scope 1 and 2 greenhouse gas emissions from 2019 baseline
• 125% of electricity usage powered by renewable energy
• 20% reduction in safety incident rate year-over-year
• 51% of preferred suppliers and 80% of specified customers had GHG reduction and science-based targets

Flex received several recognitions for its sustainability efforts, including the 2023 Manufacturer of the Year Award and Ethisphere's World's Most Ethical Company® recognition.

Nextracker (NXT) has unveiled NX Foundation Solutions, expanding its solar foundations portfolio with the introduction of NX Anchor. This new system optimizes ground-mount solar project development across various soil conditions, following recent acquisitions of Ojjo and Solar Pile International's foundations business.

The comprehensive solution includes expert services for geotechnical reviews, on-site testing, foundation design, and installation support. It features the Ojjo Truss Driver, a patented machine for drilling and pile driving. Nextracker's foundations can result in up to 50% less steel and 70% shallower embedment than traditional pilings, potentially reducing costs and improving project timelines.

With over 100 GW of trackers and 50 GW of compatible foundations shipped, Nextracker aims to streamline solar development on challenging terrains, offering an integrated solution that installs faster and minimizes risks in complex soil conditions.

Flex (NASDAQ: FLEX) has announced its participation in the upcoming Goldman Sachs 2024 Communacopia + Technology Conference. The event is scheduled for Monday, September 9, 2024, with Flex's presentation set for 12:10pm CT / 1:10pm ET.

Investors and interested parties can access the live webcast of the presentation through the Flex Investor Relations website. For those unable to attend in real-time, an archived replay will be made available on the website shortly after the presentation concludes.

This conference provides an opportunity for Flex to showcase its latest developments and strategies to the investment community, potentially impacting investor sentiment and stock performance.

Anord Mardix, a Flex (NASDAQ: FLEX) company, has opened a second facility in Dundalk, Ireland, to meet the growing demand for critical power solutions in data centers. The new 120,000 sq ft facility, named D2, will serve as an assembly hub for switchgear products and modular power systems, doubling the company's footprint in Ireland. This expansion aims to address the increasing global demand for safe, reliable, and uninterrupted data center power, particularly driven by the rapid growth of AI.

The Dundalk D2 facility represents a significant milestone in Flex's commitment to delivering cutting-edge power and vertically integrated solutions for the global data center market. It will enhance Anord Mardix's capabilities in providing innovative solutions for AI data centers while also creating new career opportunities in the local community.

Qventus, an AI platform company for healthcare operations, has appointed Jamie Eisinger Burgess as Senior Vice President of Marketing. Burgess brings over 15 years of experience in global brand, product, and growth marketing. She will oversee brand and product marketing, growth marketing, creative, and communications at Qventus.

Prior to joining Qventus, Burgess led Marketing and Strategic Partnerships at BrightInsight, a digital health platform for biopharma. She was also a founding member of Qualcomm Life, Inc. Burgess's appointment is expected to solidify Qventus's leadership position and accelerate its growth in the healthcare AI sector.

Flex (NASDAQ: FLEX) and Musashi Energy Solutions have announced a collaboration to supply Capacitor-based Energy Storage Systems (CESS) featuring Musashi's Hybrid SuperCapacitor (HSC) technology. These systems are designed to address utility power challenges in AI data centers. Key features of the CESS include:

• Support for power supply systems during large power transients
• Efficient energy management for AI workloads
• Longer lifespan than current battery systems
• Wide operating temperature range

Flex plans to begin production of its CESS in the first half of 2025, with commercial availability expected shortly after.

Nextracker (NXT) reported strong Q1 FY25 financial results, with 50% year-over-year revenue growth to $720 million. The company reaffirmed its FY25 outlook, projecting revenue between $2.8 billion to $2.9 billion. Key highlights include:

- GAAP Net Income of $125 million, up from $64 million in Q1 FY24
- GAAP Diluted EPS of $0.84, compared to $0.43 in Q1 FY24
- Adjusted EBITDA of $175 million, with a 24.3% margin
- Acquisitions of Ojjo, Inc. and Solar Pile International's foundations business
- Expansion of manufacturing facilities and launch of new products

Nextracker maintains a strong balance sheet with over $1.4 billion in total liquidity and continues to see healthy demand for solar trackers in both U.S. and international markets.

Flex (NASDAQ: FLEX) has appointed Michael Hartung as President and Chief Commercial Officer, effective immediately. Hartung, a 20-year veteran at Flex, will lead both the Agility and Reliability segments, focusing on implementing the company's long-term Flex Forward strategy. He will report directly to CEO Revathi Advaithi.

This appointment establishes a unified go-to-market organization aimed at driving growth, capitalizing on macro trends, and delivering additional value to customers. Hartung's expanded role is expected to accelerate progress on Flex's long-term strategy, drive consistency across the enterprise, and further penetrate the company's differentiated suite of services and products across all end markets.