Welcome to our dedicated page for Plexus news (Ticker: PLXS), a resource for investors and traders seeking the latest updates and insights on Plexus stock.
Plexus Corp (NASDAQ: PLXS) is a leading U.S.-based Electronic Manufacturing Services (EMS) company that specializes in providing comprehensive end-to-end solutions for the creation and distribution of complex products. The company's unique Product Realization Value Stream Service Model integrates product conceptualization, design, commercialization, manufacturing, fulfillment, and sustaining services, ensuring a seamless process for customers across various regions, including the Americas, Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC).
Plexus serves over 140 branded product companies across multiple market sectors such as networking/communications, healthcare/life sciences, industrial/commercial, and defense/security/aerospace. The company is particularly known for its ability to handle mid-to-low volume, higher complexity customer programs that require unique flexibility, advanced technology, top-notch quality, and stringent regulatory compliance.
Recently, Plexus has demonstrated a strong commitment to shareholder value by announcing a new $50 million share repurchase program. According to Todd Kelsey, the Chief Executive Officer, this initiative is aimed at returning excess cash to shareholders and creating long-term value by leveraging current market conditions.
Financially, Plexus continues to focus on delivering excellent customer service, managing operational costs efficiently, and generating cash flow. The company's fiscal first-quarter 2024 results are set to be disclosed following market close on January 24, 2024, with a detailed update to be provided during a conference call on January 25, 2024. The results and accompanying materials will be accessible via an audio webcast in the investor relations section of the Plexus website.
Plexus’ commitment to innovation and quality, coupled with its strategic approach to growth and shareholder value, solidifies its position as a significant player in the EMS industry.
Plexus reported fiscal Q2 2021 revenue of $881 million with a GAAP diluted EPS of $1.42, which includes restructuring charges and stock-based compensation. The guidance for Q3 revenue is set between $875 and $915 million, with EPS expected to be $1.23 to $1.38. The company won 42 new manufacturing programs during the quarter, translating to $284 million in annualized revenue. Plexus also experienced a return on invested capital (ROIC) of 17.3% and plans to generate approximately $100 million in free cash flow for fiscal 2021.
Plexus (NASDAQ: PLXS) has commenced construction on a new 400,000 square foot manufacturing facility in Bangkok, Thailand, expected to be operational by the fiscal third quarter of 2022. This state-of-the-art facility will enhance Plexus' capacity in the APAC region, adding 1,800 new jobs to support future growth. Emphasizing sustainability, the facility will incorporate energy-efficient designs and green initiatives. Executive leaders believe this expansion is vital for meeting growing customer demands and reinforcing the company's operational excellence in complex market environments.
Plexus (NASDAQ: PLXS) will announce its fiscal Q2 2021 results after market close on April 21, 2021. A conference call to discuss the results is scheduled for April 22 at 8:30 a.m. ET. Participants can access the live webcast and slides through the investor relations section of Plexus' website. The company, a leader in product realization, specializes in design, development, manufacturing, and aftermarket services for complex products. For further information, visit plexus.com.
Plexus has announced its participation in the 42nd Annual Raymond James Institutional Investors Conference, scheduled for March 1-2, 2021. On March 1, at 3:50 PM ET, the company's management will engage in a fireside chat, which will be accessible via a live webcast. Participants can join the event through a provided link, and a replay will be available for 30 days post-event. Plexus, founded in 1979, is recognized for its comprehensive solutions in design, supply chain management, and manufacturing, serving industries with complex products and regulatory requirements.
Plexus reported fiscal first quarter 2021 revenue of $830 million and a GAAP diluted EPS of $1.23, exceeding guidance expectations. The company initiated second quarter revenue guidance of $860 to $900 million with EPS of $1.17 to $1.32. Notably, Plexus won 35 new manufacturing programs, projecting an annualized revenue of $223 million. The return on invested capital stood at 16.3%, with a healthy cash position of over $350 million and no debt. The outlook includes strong demand in healthcare and industrial sectors, positioning Plexus for significant growth.
Plexus (NASDAQ: PLXS) will announce its fiscal Q1 2021 results after the market closes on January 20, 2021. A conference call is scheduled for January 21, 2021, at 8:30 a.m. ET to discuss the results. The call will be accessible via a live webcast on the Plexus website, with archived playback available afterwards. The company, established in 1979, specializes in product realization services, including design, supply chain solutions, and manufacturing for complex products across various industries.
Plexus reported record fiscal fourth quarter revenue of $913 million, exceeding guidance expectations and contributing to a total fiscal year revenue of $3.4 billion, a 7% increase from the previous year. The fourth quarter GAAP diluted EPS was $1.26, including $0.23 stock-based compensation. For the fiscal first quarter of 2021, the company projects revenue between $810 million and $850 million with GAAP diluted EPS guidance of $1.02 to $1.17. Free cash flow reached $160 million for the year, indicating solid financial stability.
Plexus (NASDAQ: PLXS) will release its fiscal Q4 2020 results on October 28, 2020, after market close. A conference call will follow on October 29, 2020, at 8:30 a.m. ET. Investors can access the call via webcast on the company's website, plexus.com. The call will include discussions on the financial performance and operational insights for Q4. Key metrics and guidance are expected to be shared during the call, which will also be available for replay.
Plexus (PLXS) will release its fiscal Q4 2020 results after market close on October 28, 2020. A conference call to discuss these results will take place on October 29, 2020, at 8:30 a.m. ET. Interested participants can access the live webcast via the investor relations section of Plexus' website. The call will also be available via telephone, with a replay option thereafter. Plexus, a leading global provider of product realization services, is focused on developing complex products in regulated industries.
Plexus announced a strategic partnership with Quidel Corporation to enhance the production of the Sofia®2 Fluorescent Immunoassay Analyzer. This collaboration aims to meet the rising demand for point-of-care testing, particularly in the COVID-19 response. The Sofia®2 system is notable for delivering accurate results in under 15 minutes for various infectious diseases. Plexus will leverage its expertise in healthcare manufacturing to support this initiative, thereby contributing to improved diagnostic capabilities.
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