Movement Alert｜Flex Ltd. Intraday Rise 5.37% in Regular Trading, Earnings Beat and Full-Year Guidance Raised

Market Focus10-28 21:48

On October 28, Flex Ltd. saw an Intraday Rise of 5.37% in Regular Trading, trading at $87.66/share, with turnover of $215 million.

The move followed quarterly results and updated outlook that came in ahead of market expectations. Adjusted EPS was $1.18, above the consensus of $1.05 to $1.06, while revenue reached $8.491 billion, exceeding expectations of about $8.141 billion to $8.17 billion.

Flex Ltd. also raised full-year adjusted EPS guidance to $4.84-$5.16 from $4.42-$4.74, with the new range above the $4.69 market expectation. Revenue guidance for the fiscal year was also lifted, while fiscal Q3 adjusted EPS guidance of $1.19-$1.25 was broadly around expectations. Separately, the company recently completed the EPC Power acquisition and is continuing preparations to spin off its cloud and power infrastructure business in Q1.

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