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Plexus Corp (PLXS) to Post Q2 Earnings: What's in Store?
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Plexus Corp (PLXS - Free Report) is slated to report second-quarter 2023 results on Apr 26.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $1.05 billion, which suggests growth of 17.9% from the year-ago quarter’s reported figure. The consensus mark for earnings is pegged at $1.16 per share, indicating a year-over-year increase of 22.1%.
The company’s earnings beat the Zacks Consensus Estimate in all the last four quarters. It has a trailing four-quarter earnings surprise of 19%, on average.
For second-quarter fiscal 2023, the company projects revenues between $1.02 billion and $1.07 billion. GAAP earnings are expected in the range of $1.06-$1.24 per share, including 21 cents of stock-based compensation expenses.
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 29 manufacturing contracts worth $158 million in annualized revenues when fully ramped into production. Also, trailing four-quarter manufacturing wins totaled more than $885 million in annualized revenues.
The company’s Healthcare/Life Sciences business segment is expected to have benefited from rising demand for elective procedures and new program ramps. The company’s industrial segment is anticipated to have benefited from growing secular market trends in warehouse and factory automation. The company’s Aerospace and Defense market is likely to gain owing to rising demand for commercial aerospace.
The funnel of qualified manufacturing opportunities is expected to benefit from an extended decision-making cycle owing to macroeconomic and geopolitical uncertainties. Program cancelations within the funnel are normal coupled with strong program win rates. As a result, the company anticipates a notable rebound in its new program wins in the fiscal second quarter based on its current funnel visibility.
However, the company’s performance is likely to be affected due to weak semiconductor capital equipment demand and changes in the new program ramp schedule in the near term, coupled with supply-chain disruptions. Customer concentration risks and stiff competition are further concerns.
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.
PLXS has an Earnings ESP of 0.00% and a Zacks Rank #2. 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 you may consider, as our proven model shows that these have the right mix of elements to beat estimates this time around.
The Zacks Consensus Estimate for Meta’s to-be-reported quarter’s earnings and revenues is pegged at $1.96 per share and $27.49 billion, respectively. Shares of META are up 13.8% in the past year.
American Airlines (AAL - Free Report) has an Earnings ESP of +85.71% and currently carries a Zacks Rank of 2. AAL is set to announce quarterly figures on Apr 27.
The Zacks Consensus Estimate for American Airlines’ to-be-reported quarter’s earnings and revenues is pegged at 3 cents per share and $12.3 billion, respectively. Shares of AAL are down 32.9% in the past year.
Cloudflare (NET - Free Report) has an Earnings ESP of +12.50% and currently carries a Zacks Rank of 2. NET is set to announce quarterly figures on Apr 27.
The Zacks Consensus Estimate for Cloudflare’s to-be-reported quarter’s earnings and revenues is pegged at 4 cents per share and $291 million, respectively. Shares of NET are down 36.4% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Plexus Corp (PLXS) to Post Q2 Earnings: What's in Store?
Plexus Corp (PLXS - Free Report) is slated to report second-quarter 2023 results on Apr 26.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $1.05 billion, which suggests growth of 17.9% from the year-ago quarter’s reported figure. The consensus mark for earnings is pegged at $1.16 per share, indicating a year-over-year increase of 22.1%.
The company’s earnings beat the Zacks Consensus Estimate in all the last four quarters. It has a trailing four-quarter earnings surprise of 19%, on average.
For second-quarter fiscal 2023, the company projects revenues between $1.02 billion and $1.07 billion. GAAP earnings are expected in the range of $1.06-$1.24 per share, including 21 cents of stock-based compensation expenses.
Plexus Corp. Price and EPS Surprise
Plexus Corp. price-eps-surprise | Plexus Corp. Quote
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 29 manufacturing contracts worth $158 million in annualized revenues when fully ramped into production. Also, trailing four-quarter manufacturing wins totaled more than $885 million in annualized revenues.
The company’s Healthcare/Life Sciences business segment is expected to have benefited from rising demand for elective procedures and new program ramps. The company’s industrial segment is anticipated to have benefited from growing secular market trends in warehouse and factory automation. The company’s Aerospace and Defense market is likely to gain owing to rising demand for commercial aerospace.
The funnel of qualified manufacturing opportunities is expected to benefit from an extended decision-making cycle owing to macroeconomic and geopolitical uncertainties. Program cancelations within the funnel are normal coupled with strong program win rates. As a result, the company anticipates a notable rebound in its new program wins in the fiscal second quarter based on its current funnel visibility.
However, the company’s performance is likely to be affected due to weak semiconductor capital equipment demand and changes in the new program ramp schedule in the near term, coupled with supply-chain disruptions. Customer concentration risks and stiff competition are further concerns.
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.
PLXS has an Earnings ESP of 0.00% and a Zacks Rank #2. 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 you may consider, as our proven model shows that these have the right mix of elements to beat estimates this time around.
Meta Platforms (META - Free Report) has an Earnings ESP of +11.23% and currently flaunts a Zacks Rank of 1. META is set to announce quarterly figures on Apr 26. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta’s to-be-reported quarter’s earnings and revenues is pegged at $1.96 per share and $27.49 billion, respectively. Shares of META are up 13.8% in the past year.
American Airlines (AAL - Free Report) has an Earnings ESP of +85.71% and currently carries a Zacks Rank of 2. AAL is set to announce quarterly figures on Apr 27.
The Zacks Consensus Estimate for American Airlines’ to-be-reported quarter’s earnings and revenues is pegged at 3 cents per share and $12.3 billion, respectively. Shares of AAL are down 32.9% in the past year.
Cloudflare (NET - Free Report) has an Earnings ESP of +12.50% and currently carries a Zacks Rank of 2. NET is set to announce quarterly figures on Apr 27.
The Zacks Consensus Estimate for Cloudflare’s to-be-reported quarter’s earnings and revenues is pegged at 4 cents per share and $291 million, respectively. Shares of NET are down 36.4% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.