Overview

* Plexus fiscal Q3 revenue of $1.018 bln largely in-line with analyst expectations, per LSEG data

* Adjusted EPS of $1.90 beats analyst estimates, per LSEG data

Outlook

* Plexus projects Q4 revenue of $1.025 bln to $1.065 bln

* Company expects Q4 GAAP EPS of $1.57 to $1.72, including $0.25 of stock-based compensation expense

* Plexus anticipates Q4 non-GAAP EPS of $1.82 to $1.97

* Company sees revenue growth from share gains and new customers

Result Drivers

* EFFICIENCY INITIATIVES - Co attributes "strong" qtr performance to numerous efficiency initiatives, per CEO Todd Kelsey

* MANUFACTURING WINS - Plexus secured 41 manufacturing programs, representing $250 mln in annualized revenue, when fully ramped into production

* CASH CYCLE IMPROVEMENTS - Reduction in gross inventory balance and improved cash cycle contributed to strong ROIC of 14.1%, per CFO Patrick Jermain

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 In-line $1.02 $1.02

Revenue bln bln (7

Analysts

)

Q3 Beat $1.9 $1.72 (6

Adjusted Analysts

EPS )

Q3 EPS $1.64

Q3 Net $45.12

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "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 Plexus Corp ( PLXS ) is $160.00, about 16.5% above its July 22 closing price of $133.62

* The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release:

(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.)