Fiscal third quarter 2023

highlights

July 27, 2023

PLEXUS CORP.

Safe harbor and fair disclosure statement

Some of the statements made and information provided during our call as well as information included in the supporting materials will be forward looking statements, including, without limitation, those regarding revenue, gross margin, selling and administrative expense, operating margin, other income and expense, taxes, cash cycle, capital allocation and future business outlook. Forward-looking statements are not guarantees since there are inherent difficulties in predicting future results, and actual results could differ materially from those expressed or implied in the forward-looking statements. For a list of factors that could cause actual results to differ materially from those discussed, please refer to the Company's periodic SEC filings, particularly the risk factors in our Form 10-K filing for the fiscal year ended October 01, 2022 as supplemented by our form 10-Q filings, and the Safe Harbor and Fair Disclosure statement in our press release detailing our quarterly results.

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PLEXUS CORP.

Fiscal third quarter results

Q3F23 Results

Q3F23 Guidance

Revenue

$1.02 billion

$1.00 to $1.05 billion

GAAP Diluted EPS

$0.56(1)

$0.28 to $0.46(3)

Non-GAAP Diluted EPS

$1.32(2)

$1.05 to $1.23(4)

  • Non-GAAPoperating margin of 5.0%, including 37 bps of stock-based compensation, was at high end of guidance range
  • 5th consecutive quarter with operating margin exceeding 5%
  • Record quarterly manufacturing wins of $321M
  • Wins exceeded $300M for second time in past 6 quarters
  • Funnel of qualified manufacturing opportunities remains robust at $4.0B
    1. Includes $0.14 of stock-based compensation expense and $0.76 of restructuring charges
    2. Includes $0.14 of stock-based compensation expense
    3. Plexus updated GAAP guidance on May 18, 2023 to reflect a one-time charge related to an arbitration decision. GAAP guidance includes $0.19 of stock-based compensation expense.
    4. Includes $0.19 of stock-based compensation expense and excludes $0.77 of restructuring charges

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F i s c a l 2 0 2 2 H i g h l i g h t s

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R e v i e w o n P l e x u s 'S u s t a i n a b i l i t y w e b p a g e

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M a n u f a c t u r i n g s i t e s : 1 1 . 9 % e n e r g y i n t e n s i t y r e d u c t i o n

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L a u n c h e d 3 r d e m p l o y e e r e s o u r c e g r o u p

S U S T A I N A B I L I T Y

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C h a r i t a b l e f o u n d a t i o n d o n a t e d $ 1 m i l l i o n g l o b a l l y

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C o m p l e t e d 3 r d p a r t y m a t e r i a l i t y a s s e s s m e n t

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E n h a n c e d c y b e r - i n c i d e n t r e s p o n s e p r e p a r e d n e s s

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D e p l o y e d s u i t e o f p r o d u c t l i f e c y c l e s o l u t i o n s

PLEXUS CORP.

Fiscal 2023 fourth quarter guidance

REVENUE GUIDE

  • Robust commercial aerospace demand
  • Ongoing new program ramps
  • Incremental weakness in semicap
  • Modest softening of some industrial markets
  • Ongoing supply chain challenges

EPS GUIDE

  • GAAP operating margin of 4.7% to 5.2%

FUTURE OUTLOOK

Q4F23 Guidance

Revenue

$1.00 billion to $1.04 billion

GAAP Diluted EPS

$1.18 to $1.36*

  • Expect demand to remain steady in early fiscal 2024 followed by accelerating revenue and profitability growth
  • Confident in achieving $5B of revenue at 5.5% GAAP operating margin by fiscal 2025

* Includes $0.19 of stock-based compensation expense

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Plexus Corporation published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2023 20:34:42 UTC.