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Flex Shares Are Trading Higher On Q4 Earnings Beat, Strong Q1 Guidance

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Flex Shares Are Trading Higher On Q4 Earnings Beat, Strong Q1 Guidance
  • Flex Ltd (NASDAQ: FLEXreported fourth-quarter FY21 revenue growth of 14.3% year-on-year to $6.266 billion, beating analysts' consensus of $5.82 billion.
  • Non-GAAP operating income rose 49.8% to $310 million.
  • Non-GAAP net income rose 73.4% to $248 million, with adjusted EPS of $0.49, beating analyst consensus of $0.36.
  • The company held $2.637 billion in cash and equivalents, and it used $202 million in operating cash flow.
  • Guidance: Q1 FY22 revenue guidance lies between $5.9 billion and $6.3 billion, beating analysts consensus of $5.8 billion; the adjusted operating income guidance range is $240 million to $280 million; Non-GAAP EPS guidance of $0.34 to $0.40, beating the consensus of $0.32.
  • CEO Revathi Advaithi expects to continue the positive momentum in FY22.
  • Price action: FLEX shares traded higher by 5.58% at $17.91 on the last check Wednesday.
 

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