08:54 AM EDT, 07/24/2024 (MT Newswires) -- Flex (FLEX) reported fiscal Q1 adjusted earnings Wednesday of $0.51 per diluted share, up from $0.47 a year earlier.

Analysts polled by Capital IQ expected $0.41.

Revenue for the quarter ended June 28 was $6.31 billion, compared with $6.89 billion a year earlier.

Analysts surveyed by Capital IQ expected $5.90 billion.

For fiscal Q2, the company expects adjusted EPS of $0.52 to $0.60. Analysts polled by Capital IQ expect $0.55. Revenue for the fiscal quarter is projected to be $6.2 billion to $6.8 billion. Analysts polled by Capital IQ expect $6.28 billion for the quarter.

The company expects fiscal 2025 adjusted EPS of $2.30 to $2.50. Analysts polled by Capital IQ expect $2.39. Revenue for the fiscal year is projected to be $25.4 billion to $26.4 billion. Analysts polled by Capital IQ expect $25.74 billion.

Meanwhile, the company said that Chief Financial Officer Paul Lundstrom is stepping down from his position, effective July 31 to pursue another opportunity. Jaime Martinez will assume the role on an interim basis as the company launched a search process to identify Lundstrom's permanent successor.

Martinez has more than 20 years of experience with Flex and has held various finance leadership roles.

Shares of the company added more than 3% in pre-bell activity.

Price: 30.82, Change: +1.10, Percent Change: +3.70