Movement Alert｜Flex Ltd. Rise 5.11% in Pre-Market Trading, Earnings Expectations and Spin-Off Progress Lift Sentiment

Market Focus10-28 19:07

On October 28, Flex Ltd. rose 5.11% in Pre-Market Trading, trading at $87.5345 per share, with turnover of $1.5606 million.

The move coincided with upbeat expectations ahead of its scheduled earnings release and continued progress on the planned separation of its cloud and power infrastructure business.

Market consensus pointed to quarterly revenue of $8.141 billion, up 21.79% year over year, adjusted EPS of $1.05, up 38.96%, and EBIT of $557 million, up 40.57%. Separately, the company completed its acquisition of EPC Power, which has been integrated into the cloud and power infrastructure segment. That business is still planned to be spun off as Axiom Solutions International in the first quarter, with investors focused on the impact of AI power assets consolidation and potential valuation unlocking from the separation.

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