The 10-second takeaway
For the quarter ended Dec. 29 (Q1), Plexus missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped.
Margins dropped across the board.
Plexus booked revenue of $530.5 million. The eight analysts polled by S&P Capital IQ foresaw a top line of $554.6 million on the same basis. GAAP reported sales were 0.2% higher than the prior-year quarter's $529.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.47. The four earnings estimates compiled by S&P Capital IQ forecast $0.49 per share. GAAP EPS of $0.47 for Q1 were 7.8% lower than the prior-year quarter's $0.51 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 9.6%, 20 basis points worse than the prior-year quarter. Operating margin was 4.0%, 50 basis points worse than the prior-year quarter. Net margin was 3.1%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $554.1 million. On the bottom line, the average EPS estimate is $0.51.
Next year's average estimate for revenue is $2.23 billion. The average EPS estimate is $1.99.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 352 members out of 372 rating the stock outperform, and 20 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 86 give Plexus a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Plexus is hold, with an average price target of $23.64.
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