05.15.23
Flex announced results for its fourth quarter and fiscal year ended March 31, 2023.
Fourth Quarter Fiscal Year 2023 Highlights:
• Net Sales: $7.5 billion
• GAAP Operating Income: $266 million
• Adjusted Operating Income: $364 million
• GAAP Net Income attributable to Flex Ltd.: $142 million
• Adjusted Net Income attributable to Flex Ltd.: $261 million
• GAAP Earnings Per Share: $0.31
• Adjusted Earnings Per Share: $0.57, which includes $0.03 impact of noncontrolling interest expense from the Nextracker IPO
Fiscal Year 2023 Results of Operations:
• Net Sales: $30.3 billion
• GAAP Operating Income: $1,184 million
• Adjusted Operating Income: $1,442 million
• GAAP Net Income attributable to Flex Ltd.: $793 million
• Adjusted Net Income attributable to Flex Ltd.: $1,090 million
• GAAP Earnings Per Share: $1.72
• Adjusted Earnings Per Share: $2.36, which includes $0.03 impact of noncontrolling interest expense from the Nextracker IPO
"We delivered a very strong year, growing revenue 17% year-over-year, as we continue to navigate the current environment as well as make progress towards our longer-term strategic goals," said Revathi Advaithi, CEO of Flex. "As we've consistently demonstrated over the last few years, our team's focused execution has set us up well to create shareholder value as we look to fiscal 2024 and beyond."
Fourth Quarter Fiscal Year 2023 Highlights:
• Net Sales: $7.5 billion
• GAAP Operating Income: $266 million
• Adjusted Operating Income: $364 million
• GAAP Net Income attributable to Flex Ltd.: $142 million
• Adjusted Net Income attributable to Flex Ltd.: $261 million
• GAAP Earnings Per Share: $0.31
• Adjusted Earnings Per Share: $0.57, which includes $0.03 impact of noncontrolling interest expense from the Nextracker IPO
Fiscal Year 2023 Results of Operations:
• Net Sales: $30.3 billion
• GAAP Operating Income: $1,184 million
• Adjusted Operating Income: $1,442 million
• GAAP Net Income attributable to Flex Ltd.: $793 million
• Adjusted Net Income attributable to Flex Ltd.: $1,090 million
• GAAP Earnings Per Share: $1.72
• Adjusted Earnings Per Share: $2.36, which includes $0.03 impact of noncontrolling interest expense from the Nextracker IPO
"We delivered a very strong year, growing revenue 17% year-over-year, as we continue to navigate the current environment as well as make progress towards our longer-term strategic goals," said Revathi Advaithi, CEO of Flex. "As we've consistently demonstrated over the last few years, our team's focused execution has set us up well to create shareholder value as we look to fiscal 2024 and beyond."