Flex Ltd. FLEX shares are trading higher after the company reported better-than-expected second-quarter financial results and raised its full-year earnings guidance.
The company reported adjusted earnings per share 64 cents, beating the analyst consensus estimate of 56 cents. Quarterly sales of $6.545 billion beat the street view of $6.532 billion.
The company registered a second-quarter gross profit of $531 million, higher than the $519 million reported in the year-ago period.
Flex exited the quarter with cash and equivalents worth $2.601 billion. Inventories at quarter end totaled $5.466 billion.
Outlook: Flex expects its third-quarter revenues to be between $6.0 billion and $6.4 billion, slightly below the analyst estimate of $6.54 billion.
Additionally, the company anticipates adjusted earnings per share in the range of $0.60 – $0.66 versus the consensus estimate of $0.65.
Flex has revised its fiscal year 2025 revenue outlook to a range of $24.9 billion – $25.5 billion, down from the previous estimate of $25.4 billion – $26.4 billion, and below the analyst estimate of $25.78 billion.
Additionally, the company revised its adjusted earnings per share guidance to between $2.39 and $2.51, up from $2.30 – $2.50 and compared to the consensus estimate of $2.41.
Price Action: FLEX shares are trading higher by 3.17% to $35.77 at last check Wednesday.
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