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Plexus Announces Preliminary Fiscal First Quarter 2024 Results And Additional Share Repurchase Program
January 19, 2024 | PlexusEstimated reading time: Less than a minute
Plexus Corp. announced that it will not meet its fiscal first quarter revenue guidance of $990 million to $1.03 billion, GAAP operating margin of 4.8% to 5.3% and GAAP EPS of $1.15 to $1.33, as issued October 25, 2023. As the fiscal first quarter progressed, the company experienced continued market-driven inventory corrections and incrementally weaker demand from the Healthcare/Lifesciences and Industrial market sectors. Plexus now expects to announce fiscal first quarter revenue of $980 to $985 million, GAAP operating margin of approximately 4.6% and GAAP diluted EPS of $1.02 to $1.06.
Todd Kelsey, Chief Executive Officer, commented, “I remain confident in my expectations that, over the long-term, Plexus’ strategy will continue to deliver industry-leading revenue growth and superior returns for our shareholders. In the near term, Plexus is focused on continuing to deliver customer service excellence, tightly managing costs and generating cash. In support of our commitment to return any excess cash to shareholders, I am pleased to announce that our Board of Directors approved a new $50 million share repurchase program. We believe repurchasing our common stock at current market prices is an attractive use of our capital and creates an additional opportunity to create long-term shareholder value.”
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Plexus Marks Zero Waste Day with Significant Reductions in Electronic Waste
03/28/2025 | PlexusThe global surge in electronic waste, increasing by 82% since 2010 and projected to reach a staggering 82 million tons by 2030, demands immediate and effective action. In response, Plexus Corp., is demonstrating its commitment to sustainability by achieving significant waste reduction milestones at its European facilities.
Plexus Issues Fiscal 2023 Sustainability Report
06/25/2024 | Plexus Corp.Plexus Corp. released its fiscal 2023 Sustainability Report. The report, which is now available on the company’s Sustainability web page, highlights the progress and impact of its sustainable and responsible business practices in strengthening customer partnerships, supporting team member growth and demonstrating a positive environmental and social impact.
Simbe Partners with Plexus to Scale Manufacturing and Meet Global Retail Demand
05/08/2024 | Globe NewswireSimbe, the leading provider of Store Intelligence™ solutions that increase retailer performance through unprecedented visibility and insights, today announced a partnership with Plexus Corp. to bring its best-in-class retail robotics-as-a-service to market quickly and at global scale.
Plexus Provides Update On Unverified List Designation
12/22/2023 | PlexusOn December 19, 2023, Plexus Corp. learned that the U.S Department of Commerce placed its Xiamen, China subsidiary on the Bureau of Industry and Security’s (BIS) Unverified List.
Plexus Joins the United Nations Global Compact
12/18/2023 | Plexus Corp.Plexus Corp. announced that it has joined the United Nations (UN) Global Compact, a voluntary leadership platform for the development, implementation and disclosure of socially responsible business practices.