Electronics manufacturer Plexus meets Q1 revenue expectations

Overview

• Manufacturer's fiscal Q1 revenue met analyst expectations, non-GAAP EPS hit high end of guidance

• Company won 22 manufacturing programs, representing $283 mln in annualized revenue

• Company repurchased $22.4 mln of shares under 2026 Share Repurchase Program

Outlook

• Plexus forecasts Q2 revenue of $1.110 bln to $1.150 bln

• Company expects Q2 GAAP EPS of $1.53 to $1.68

• Plexus anticipates Q2 non-GAAP EPS of $1.80 to $1.95

• CASH FLOW OUTLOOK - Despite cash usage in Q1, co expects $100 mln free cash flow for fiscal 2026

Result Drivers

• HEALTHCARE AND AEROSPACE GROWTH - Revenue increased 10% year-over-year due to strong growth in Healthcare/Life Sciences and Aerospace/Defense sectors

• MANUFACTURING WINS - Co secured 22 manufacturing wins, including $220 mln from Aerospace/Defense, contributing $283 mln in annualized revenue

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electronic equipment & parts peer group is "buy."

• Wall Street's median 12-month price target for Plexus Corp is $157.50, about 9.2% below its January 27 closing price of $173.51

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nGNXPHLWm

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