Overview

* Flex fiscal Q2 net sales rise 4% to $6.8 bln, beating analyst expectations

* Adjusted EPS for fiscal Q2 at $0.79, surpassing analyst estimates

* Company raises full-year guidance due to strong demand in Power and Cloud businesses

Outlook

* Flex raises full-year net sales guidance to $26.7 bln to $27.3 bln

* Company expects Q3 net sales between $6.65 bln and $6.95 bln

* Flex projects full-year adjusted EPS between $3.09 and $3.17

Result Drivers

* DATA CENTER DEMAND - Strong demand in Power and Cloud businesses driven by data center needs, contributing to sales growth

* PORTFOLIO SHIFT - Company is shifting towards higher-margin businesses, enhancing data center market position

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Sales Beat $6.80 $6.67

bln bln (7

Analysts

)

Q2 Beat $0.79 $0.75 (8

Adjusted Analysts

EPS )

Q2 EPS $0.52

Q2 Net $199 mln

Income

Q2 Gross $614 mln

Profit

Q2 $296 mln

Operatin

g Income

Q2 $262 mln

Pretax

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 2 "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 Flex Ltd ( FLEX ) is $62.50, about 2.8% below its October 28 closing price of $64.26

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)