Stock Track | Flex Ltd Soars 5.11% Intraday on Spin-Off Plans and Strong Earnings Performance

Stock Track05-14

Flex Ltd's stock soared 5.11% during intraday trading on Wednesday, marking a significant rebound from recent sector pressures.

The surge follows the company's announcement of plans to spin off its cloud services and power infrastructure business into an independently listed entity. Management projects the spin-off business to achieve revenue growth of 65%-75% in fiscal year 2027, accelerating further to above 80% in fiscal year 2028. Additionally, Flex has secured a $1.45 billion senior delayed draw term loan facility to provide financial backing for the separation and subsequent business expansion.

Investor confidence was further bolstered by the company's solid annual earnings, which showed earnings per share of $2.39 and net income attributable to shareholders of $880 million — representing a 5.01% year-over-year increase. The convergence of these transformative corporate actions, high-growth projections, and fundamental financial strength, combined with broader industry recovery, supported the stock's upward movement.

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