Abstract
Plexus will report fiscal Q1 2026 results on January 28, 2026 Post Market; this preview outlines market expectations, last quarter performance, segment dynamics, and prevailing analyst sentiment.
Market Forecast
Consensus for the current quarter points to revenue of USD 1.07 billion, EBIT of USD 60.94 million, and adjusted EPS of USD 1.75, implying year-over-year growth of 9.16% for revenue, 6.77% for EBIT, and 10.10% for adjusted EPS; margin color is modestly constructive with no explicit company guidance for gross margin or net margin in the forecast. Highlights center on stable demand across Industrial, Healthcare/Life Sciences, and Aerospace/Defense with an improving mix supporting earnings quality. The most promising segment appears to be Healthcare/Life Sciences, with recent revenue of USD 1.63 billion and resilient demand trends; year-over-year growth indications are constructive from management commentary and recent orders.
Last Quarter Review
Plexus’s prior quarter delivered revenue of USD 1.06 billion, a gross profit margin of 9.90%, GAAP net profit attributable to the parent company of USD 51.43 million, a net profit margin of 4.86%, and adjusted EPS of USD 2.14, with adjusted EPS up 15.68% year over year. A noteworthy financial highlight was EBIT of USD 60.92 million, slightly above internal estimates, reflecting disciplined cost control and efficient operations. Main business performance showed Industrial at USD 1.72 billion, Healthcare/Life Sciences at USD 1.63 billion, and Aerospace/Defense at USD 0.69 billion in revenue, with Healthcare/Life Sciences demonstrating resilient trends and favorable program ramps; year-over-year contributions were mixed across segments, with stability in Healthcare/Life Sciences.
Current Quarter Outlook (with major analytical insights)
Core Operations: Manufacturing Solutions Across Industrial, Healthcare/Life Sciences, and Aerospace/Defense
The company’s core operations rely on program stability, supply chain execution, and incremental capacity utilization. With revenue projected at USD 1.07 billion and adjusted EPS at USD 1.75, performance will hinge on product mix and operational efficiency sustaining gross margin near the recent 9.90% level. The quarter-on-quarter net profit improvement of 13.99% last quarter suggests recent momentum that could carry forward if demand holds across key accounts. Pricing discipline and engineering services integration support EBIT resilience, while any supply constraints or schedule changes can introduce volatility to margins and throughput.
Healthcare/Life Sciences: Most Promising Driver of Growth
Healthcare/Life Sciences stands out due to recurring demand for diagnostics, patient monitoring, and life sciences instrumentation. Recent revenue at USD 1.63 billion underscores the scale of this portfolio and the potential for stable, above-company-average margins due to higher-value programs. Year-over-year growth signals, while not explicitly reported for the latest quarter at the segment level, align with improving orders and pipeline visibility in regulated markets. For the current fiscal quarter, new program ramps and service content are likely to support revenue continuity and incremental margin gains, especially if mix shifts toward complex assemblies and engineering services that command stronger contribution margins.
Stock Price Sensitivities: Margins, Mix, and Book-to-Bill
Investors are likely to focus on the sustainability of margins relative to the 9.90% gross margin baseline and 4.86% net margin achieved last quarter. The adjusted EPS estimate at USD 1.75 embeds expectations of disciplined cost management and favorable mix; deviations in program timing or material cost recovery could alter the margin trajectory. Book-to-bill commentary, backlog quality, and visibility into Industrial project schedules will influence sentiment, as Industrial contributes significant scale and can amplify earnings leverage when utilization improves. Any update on Aerospace/Defense program transitions or ramp cadence may also sway expectations given its role in diversifying revenue and supporting margin stability.
Analyst Opinions
The balance of institutional commentary in recent weeks tilts cautiously positive, emphasizing consistent execution and an improving earnings mix. Notable analysts point to the supportive setup of mid- to high-single-digit revenue growth and low double-digit adjusted EPS growth potential for the quarter, underpinned by robust Healthcare/Life Sciences programs. The prevailing view is that while headline revenue growth near 9.16% appears attainable, share performance will depend on margin commentary, backlog trends, and visibility on near-term ramps; firms expect an orderly quarter without outsized surprises, favoring steadier operational delivery over aggressive top-line acceleration.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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