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Flex (FLEX) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Flex (FLEX - Free Report) reported revenue of $7.47 billion, down 3.8% over the same period last year. EPS came in at $0.68, compared to $0.63 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.52 billion, representing a surprise of -0.61%. The company delivered an EPS surprise of +17.24%, with the consensus EPS estimate being $0.58.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Flex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Flex Agility Solutions: $3.62 billion compared to the $3.64 billion average estimate based on two analysts. The reported number represents a change of -9.6% year over year.
Revenue- Intersegment eliminations: -$34 million versus the two-analyst average estimate of -$16.05 million. The reported number represents a year-over-year change of +240%.
Revenue- Nextracker: $573 million versus $538 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +14.6% change.
Revenue- Flex Reliability Solutions: $3.31 billion versus $3.42 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
Segment income- Corporate and Other: -$12 million versus the two-analyst average estimate of -$22 million.
Segment income- Nextracker: $112 million versus $72.65 million estimated by two analysts on average.
Segment income- Flex Reliability Solutions: $171 million versus the two-analyst average estimate of $157.46 million.
Segment income- Flex Agility Solutions: $168 million versus the two-analyst average estimate of $162.07 million.
Shares of Flex have returned -4.7% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Flex (FLEX) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Flex (FLEX - Free Report) reported revenue of $7.47 billion, down 3.8% over the same period last year. EPS came in at $0.68, compared to $0.63 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.52 billion, representing a surprise of -0.61%. The company delivered an EPS surprise of +17.24%, with the consensus EPS estimate being $0.58.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Flex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Flex Agility Solutions: $3.62 billion compared to the $3.64 billion average estimate based on two analysts. The reported number represents a change of -9.6% year over year.
- Revenue- Intersegment eliminations: -$34 million versus the two-analyst average estimate of -$16.05 million. The reported number represents a year-over-year change of +240%.
- Revenue- Nextracker: $573 million versus $538 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +14.6% change.
- Revenue- Flex Reliability Solutions: $3.31 billion versus $3.42 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
- Segment income- Corporate and Other: -$12 million versus the two-analyst average estimate of -$22 million.
- Segment income- Nextracker: $112 million versus $72.65 million estimated by two analysts on average.
- Segment income- Flex Reliability Solutions: $171 million versus the two-analyst average estimate of $157.46 million.
- Segment income- Flex Agility Solutions: $168 million versus the two-analyst average estimate of $162.07 million.
View all Key Company Metrics for Flex here>>>Shares of Flex have returned -4.7% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.