FLEX’s Q1 Earnings Surpass Estimates, Revenues Decline Y/Y
Flex Ltd (NASDAQ: FLEX) reported first-quarter fiscal 2025 adjusted earnings per share of 51 cents, beating the Zacks Consensus Estimate by 24.4%. The bottom line compared favorably with the prior-year quarter’s 47 cents per share.
Revenues fell 8% year over year to $6.3 billion. However, it surpassed the consensus mark by 7%. The downside resulted from a slowdown in the Agility and Reliability Solutions business segments.
Flex Ltd. Price, Consensus and EPS Surprise
Flex Ltd. price-consensus-eps-surprise-chart | Flex Ltd. Quote
Following the announcement, shares were up 6.86% and closed the session at $31.76 on Jul 24. In the past year, the stock has gained 12.3% compared with the sub-industry’s rise of 12.1%.
Image Source: Zacks Investment Research
Segment Details
The Flex Reliability Solutions Group encompasses Health Solutions, Automotive and Industrial businesses. Revenues were down 10% year over year to $2.9 billion. The downtick is caused by weak macro trends in core industrial areas, offset by momentum in automotive, cloud, data center power and healthcare devices.
The Flex Agility Solutions Group comprises Communications & Enterprise Compute or CEC and Lifestyle and Consumer Devices businesses. Revenues were down …
Full story available on Benzinga.com