Plexus Corp (PLXS - Free Report) is slated to report fiscal second-quarter 2024 results on Apr 24.
The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $951.3 million, which suggests a decline of 11.2% from the year-ago quarter’s reported figure. The consensus mark for earnings per share (EPS) is pegged at 77 cents, indicating a year-over-year decrease of 46.9%.
The company’s earnings beat the Zacks Consensus Estimate in all the last four quarters. It has a trailing four-quarter earnings surprise of 13.3%, on average.
For fiscal second-quarter 2024, the company projects revenues between $$930 million and $970 million. GAAP diluted EPS is expected to be in the range of 48-63 cents.
Factors to Note
Plexus’s performance in the fiscal second quarter is likely to have benefited from new manufacturing contract wins. In the last reported quarter, the company won 30 manufacturing contracts worth $261 million in annualized revenues when fully ramped into production. Also, trailing four-quarter manufacturing wins totaled more than $1.05 million in annualized revenues.
The company anticipates its Aerospace and Defense segment to gain momentum owing to new program ramps and rising demand for its solutions in commercial aerospace amid weakness in the semiconductor capital equipment market. Also, the funnel of qualified manufacturing is expected to have benefited from customers outsourcing their internal manufacturing.
However, the company’s performance is likely to have been affected due to uncertainty prevailing over global macroeconomic conditions, geopolitical instability and supply-chain disruptions. Customer concentration risks and stiff competition are further concerns.
The company expects mid-single digits decline in second for its Healthcare/Life Sciences sector due to near-term demand weakness and inventory corrections. The company expects the Industrial sector to decline sequentially by low-single digits in the fiscal second quarter.
What Our Model Says
Our proven model does not predict an earnings beat for PLXS this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
PLXS has an Earnings ESP of 0.00% and carries a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
Here are some stocks that you may consider, as our proven model shows that these also have the right mix of elements to beat on estimates this time around.
IMAX Corporation (IMAX - Free Report) has an Earnings ESP of +56.00% and currently carries a Zacks Rank #2. IMAX is scheduled to report quarterly earnings on Apr 25. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for IMAX’s to-be-reported quarter’s earnings and revenues is pegged at 8 cents per share and $75.8 million, respectively. Shares of IMAX have gained 41.2% in the past year.
Meta Platforms (META - Free Report) has an Earnings ESP of +0.62% and presently carries a Zacks Rank #2. META is slated to release quarterly numbers on Apr 24.
The Zacks Consensus Estimate for META’s to-be-reported quarter’s earnings and revenues is pegged at $4.32 per share and $36.22 billion, respectively. Shares of META have lost 5.1% in the past year.
Lam Research Corporation (LRCX - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank #2. LRCX is set to report quarterly figures on Apr 24.
The Zacks Consensus Estimate for LRCX’s to-be-reported quarter’s earnings and revenues is pegged at $7.23 per share and $3.70 billion, respectively. Shares of LRCX have surged 107.2% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Plexus Corp (PLXS - Free Report) is slated to report fiscal second-quarter 2024 results on Apr 24.
The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $951.3 million, which suggests a decline of 11.2% from the year-ago quarter’s reported figure. The consensus mark for earnings per share (EPS) is pegged at 77 cents, indicating a year-over-year decrease of 46.9%.
The company’s earnings beat the Zacks Consensus Estimate in all the last four quarters. It has a trailing four-quarter earnings surprise of 13.3%, on average.
For fiscal second-quarter 2024, the company projects revenues between $$930 million and $970 million. GAAP diluted EPS is expected to be in the range of 48-63 cents.
Factors to Note
Plexus’s performance in the fiscal second quarter is likely to have benefited from new manufacturing contract wins. In the last reported quarter, the company won 30 manufacturing contracts worth $261 million in annualized revenues when fully ramped into production. Also, trailing four-quarter manufacturing wins totaled more than $1.05 million in annualized revenues.
The company anticipates its Aerospace and Defense segment to gain momentum owing to new program ramps and rising demand for its solutions in commercial aerospace amid weakness in the semiconductor capital equipment market. Also, the funnel of qualified manufacturing is expected to have benefited from customers outsourcing their internal manufacturing.
However, the company’s performance is likely to have been affected due to uncertainty prevailing over global macroeconomic conditions, geopolitical instability and supply-chain disruptions. Customer concentration risks and stiff competition are further concerns.
The company expects mid-single digits decline in second for its Healthcare/Life Sciences sector due to near-term demand weakness and inventory corrections. The company expects the Industrial sector to decline sequentially by low-single digits in the fiscal second quarter.
What Our Model Says
Our proven model does not predict an earnings beat for PLXS this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
PLXS has an Earnings ESP of 0.00% and carries a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
Here are some stocks that you may consider, as our proven model shows that these also have the right mix of elements to beat on estimates this time around.
IMAX Corporation (IMAX - Free Report) has an Earnings ESP of +56.00% and currently carries a Zacks Rank #2. IMAX is scheduled to report quarterly earnings on Apr 25. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for IMAX’s to-be-reported quarter’s earnings and revenues is pegged at 8 cents per share and $75.8 million, respectively. Shares of IMAX have gained 41.2% in the past year.
Meta Platforms (META - Free Report) has an Earnings ESP of +0.62% and presently carries a Zacks Rank #2. META is slated to release quarterly numbers on Apr 24.
The Zacks Consensus Estimate for META’s to-be-reported quarter’s earnings and revenues is pegged at $4.32 per share and $36.22 billion, respectively. Shares of META have lost 5.1% in the past year.
Lam Research Corporation (LRCX - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank #2. LRCX is set to report quarterly figures on Apr 24.
The Zacks Consensus Estimate for LRCX’s to-be-reported quarter’s earnings and revenues is pegged at $7.23 per share and $3.70 billion, respectively. Shares of LRCX have surged 107.2% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 Dividend Stocks for Your Retirement
Zacks targets 5 well-established companies with solid fundamentals and a history of raising dividends. More importantly, they have the resources and will to likely pay them in the future.
Click now for a Special Report packed with unconventional wisdom and insights you simply won’t get from your neighborhood financial planner.
See our Top 5 now – the report is FREE >>
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