03.09.20
Flex announced that as a result of the still-evolving COVID-19 situation, it expects fourth-quarter fiscal 2020 results to be negatively impacted and the company is not expected to meet its current guidance.
On Jan. 30, 2020, Flex issued fourth-quarter fiscal 2020 guidance excluding any potential impact from the COVID-19 outbreak, "given that it was still early in a very fluid and dynamic situation."
As stated on the earnings call, at the onset of the outbreak, Flex activated contingency plans and deployed response teams to take proactive steps with the purpose of protecting the health and safety of its workforce.
“Our cross-functional teams have done an amazing job returning more than 80% of our colleagues back to work, in a disciplined and safe manner," Flex CEO Revathi Advaithi said. "On behalf of the Flex leadership team, my sincere thanks to all my Flex colleagues for their commitment to safety and dedication to ramping up production at our China factories.
“We are working intently with our supply chain partners and are well-integrated with our customers as we navigate the disruptions from this situation," the CEO continued. "I am confident that now more than ever, our focus on execution and our ability to move with speed at scale will enable us to navigate through these events with discipline.”
Flex said it will provide further information during its Investor and Analyst webcast on March 11, 2020.
On Jan. 30, 2020, Flex issued fourth-quarter fiscal 2020 guidance excluding any potential impact from the COVID-19 outbreak, "given that it was still early in a very fluid and dynamic situation."
As stated on the earnings call, at the onset of the outbreak, Flex activated contingency plans and deployed response teams to take proactive steps with the purpose of protecting the health and safety of its workforce.
“Our cross-functional teams have done an amazing job returning more than 80% of our colleagues back to work, in a disciplined and safe manner," Flex CEO Revathi Advaithi said. "On behalf of the Flex leadership team, my sincere thanks to all my Flex colleagues for their commitment to safety and dedication to ramping up production at our China factories.
“We are working intently with our supply chain partners and are well-integrated with our customers as we navigate the disruptions from this situation," the CEO continued. "I am confident that now more than ever, our focus on execution and our ability to move with speed at scale will enable us to navigate through these events with discipline.”
Flex said it will provide further information during its Investor and Analyst webcast on March 11, 2020.
