Global manufacturing solutions provider Flex (NASDAQ: FLEX) will be announcing earnings results this Wednesday morning. Here’s what investors should know.
Flex beat analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $6.58 billion, up 4.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ revenue and EPS estimates.
Is Flex a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Flex’s revenue to grow 2.3% year on year to $6.70 billion, a reversal from the 5.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.76 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Flex has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.5% on average.
Looking at Flex’s peers in the electronic components & manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amphenol delivered year-on-year revenue growth of 53.4%, beating analysts’ expectations by 10.9%, and Jabil reported revenues up 18.5%, topping estimates by 9.5%. Amphenol traded up 8.8% following the results while Jabil was down 4.2%.
Read our full analysis of Amphenol’s results here and Jabil’s results here.
Investors in the electronic components & manufacturing segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Flex is up 13.8% during the same time and is heading into earnings with an average analyst price target of $60.43 (compared to the current share price of $65.50).
P.S. While everyone's chasing Nvidia, we found a hidden AI semiconductor winner trading at a fraction of the price. See our #1 pick before Wall Street catches on.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
