Flex Third Quarter 2023 Earnings: Beats Expectations
Flex (NASDAQ:FLEX) Third Quarter 2023 Results
Key Financial Results
Revenue: US$7.76b (up 17% from 3Q 2022).
Net income: US$230.0m (up 1.3% from 3Q 2022).
Profit margin: 3.0% (down from 3.4% in 3Q 2022). The decrease in margin was driven by higher expenses.
EPS: US$0.50 (up from US$0.48 in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Flex Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%.
Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Electronic industry in the US.
Performance of the American Electronic industry.
The company's shares are down 1.3% from a week ago.
We should say that we've discovered 2 warning signs for Flex that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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