The 10-second takeaway
For the quarter ended March 30 (Q2), Plexus missed slightly on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue shrank slightly. GAAP earnings per share shrank.
Margins dropped across the board.
Plexus reported revenue of $557.8 million. The eight analysts polled by S&P Capital IQ predicted a top line of $566.7 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.52. The nine earnings estimates compiled by S&P Capital IQ forecast $0.51 per share. GAAP EPS of $0.52 for Q2 were 7.1% lower than the prior-year quarter's $0.56 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 9.3%, 20 basis points worse than the prior-year quarter. Operating margin was 4.2%, 30 basis points worse than the prior-year quarter. Net margin was 3.2%, 30 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $590.1 million. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $2.24 billion. The average EPS estimate is $2.08.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 351 members out of 371 rating the stock outperform, and 20 members rating it underperform. Among 78 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 74 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 $26.71.
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