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. (NASDAQ: FLEX) is a leading sketch-to-scale™ solutions company that designs and builds intelligent products for a connected world. With a global workforce of over 200,000 professionals across 30 countries, Flex provides innovative design, engineering, manufacturing, real-time supply chain insight, and logistics services. The company's diverse client base spans across various industries and end-markets, showcasing its versatility and comprehensive capabilities.
The company operates through two main segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). Flex Agility Solutions addresses markets such as Communications, Enterprise and Cloud, Lifestyle, and Consumer Devices. Meanwhile, Flex Reliability Solutions focuses on Automotive, Health Solutions, and Industrial markets.
Flex’s core business revolves around contract manufacturing, offering extensive electronics design, manufacturing, and product management services to electronics and technology companies. This allows clients to focus on core activities while Flex handles the complexities of product lifecycle management, from initial design to final production and logistics.
Recent achievements include a significant announcement on April 8, 2024, where Flex declared it would reveal its fourth quarter and fiscal 2024 financial results on May 1, 2024. Notably, Flex's CEO Revathi Advaithi highlighted the company’s strong margin expansion and EPS growth for the fiscal year, emphasizing its ability to navigate economic cycles effectively.
Another milestone is the acquisition of FreeFlow on May 31, 2024. FreeFlow enhances Flex’s services in asset disposition and digital circular economy tracking. This acquisition enables Flex to expand its reverse logistics and sustainability analytics, furthering its commitment to delivering high-value, sustainable solutions to its clients.
Flex's commitment to innovation and sustainability is evident through its diverse product offerings and strategic partnerships. The company is poised to continue its growth trajectory, driven by its strong operational foundation and strategic initiatives aimed at increasing stakeholder value.
For more information about working at Flex, please visit www.flextronics.com/careers.
Flex (NASDAQ: FLEX) announced that its leadership team will participate in the Bank of America Global Technology Conference 2024, scheduled for June 5, 2024.
The presentation will start at 11:20am CT / 12:20pm ET and will be available as a live webcast via Flex's Investor Relations website.
An archived replay of the presentation will also be accessible on the website shortly after it concludes.
Nextracker (Nasdaq: NXT), a leader in intelligent solar tracker and software solutions, reported its financial results for Q4 and FY2024. The company achieved record revenue of $2.5 billion, a 31% increase YoY, and a GAAP net income of $496 million, with diluted EPS of $3.37.
Adjusted EBITDA surged by 150% to $521 million. The company also reported operating cash flow of $429 million and adjusted free cash flow of $427 million. Nextracker shipped over 100 gigawatts globally, marking a significant milestone.
For Q4 FY2024, revenue grew by 42% YoY to $737 million, with GAAP net income of $223 million and diluted EPS of $1.51. The company has a record backlog exceeding $4 billion, indicating strong demand. FY2025 revenue guidance is set between $2.8 billion and $2.9 billion.
Flex (NASDAQ: FLEX) announced upcoming changes to its Board of Directors, with Michael D. Capellas deciding not to stand for re-election at the 2024 Annual General Meeting. William D. Watkins will succeed him as Chair of the Board. The transition is part of Flex's succession plan to ensure continuity and leadership.
Flex reported strong financial results for the fourth quarter and fiscal year 2024, with net sales of $6.2 billion in Q4 and $26.4 billion for the fiscal year. The company showed solid performance with GAAP operating income of $159 million in Q4 and $853 million for the fiscal year, and adjusted operating income of $333 million in Q4 and $1,267 million for the fiscal year. Additionally, Flex reported GAAP net income from continuing operations of $395 million in Q4 and $872 million for the fiscal year, with adjusted net income of $244 million in Q4 and $947 million for the fiscal year. The company's GAAP earnings per share from continuing operations were $0.93 in Q4 and $1.98 for the fiscal year, while adjusted earnings per share were $0.57 in Q4 and $2.15 for the fiscal year.
CEO Revathi Advaithi highlighted strong margin expansion and EPS growth, emphasizing the company's ability to create value for stakeholders. Flex provided guidance for the first quarter fiscal 2025, with revenue expected to be between $5.6 billion and $6.2 billion, and GAAP EPS projected to be $0.11 to $0.19. For the full fiscal year 2025, revenue is forecasted to be $25.4 billion to $26.4 billion, with GAAP EPS estimated at $1.61 to $1.81. The company's adjusted EPS for fiscal year 2025 is expected to be between $2.30 and $2.50, excluding certain charges.
FAQ
What is the current stock price of Flex (FLEX)?
What is the market cap of Flex (FLEX)?
What does Flex Ltd. do?
What markets does Flex Ltd. serve?
Where can I find Flex Ltd.'s latest financial results?
How many employees does Flex Ltd. have?
What recent acquisitions has Flex Ltd. made?
Who is the CEO of Flex Ltd.?
What is Flex Ltd.'s approach to sustainability?
Where can I find more information on career opportunities at Flex Ltd.?
How does Flex Ltd. support its diverse customer base?
What are Flex Agility Solutions and Flex Reliability Solutions?
