Flextronics (FLEX) Tops Q3 EPS by 1c, Beats on Revenues; Offers Q4 EPS/Revenue Guidance Above Consensus

Flextronics (NASDAQ: FLEX) reported Q3 EPS of $0.31, $0.01 better than the analyst estimate of $0.30. Revenue for the quarter came in at $6.75 billion versus the consensus estimate of $6.5 billion.

Fourth Quarter Fiscal Year 2018 Guidance

The Company plans to initiate targeted restructuring activities during its fourth quarter of fiscal 2018. The objective of the activities is to make Flex a faster, more responsive company, and one that will continuously adapt to the incredible marketplace opportunities ahead. While a detailed action plan has not been finalized, the Company expects to incur a minimum charge of $50 million in the fourth quarter and will substantially complete all the associated activities by the end of this fiscal year.

For the fourth quarter ending March 31, 2018, revenue is expected to be in the range of $6.1 to $6.5 billion. Adjusted EPS is expected to be in the range of $0.28 to $0.32 per diluted share. GAAP EPS is expected to be in the range of $0.10 to $0.15 and includes stock-based compensation expense, intangible amortization, and restructuring charges.

GUIDANCE:

Flextronics sees Q4 2018 EPS of $0.28-$0.32, versus the consensus of $0.29. Flextronics sees Q4 2018 revenue of $6.1-6.5 billion, versus the consensus of $6.19 billion.

For earnings history and earnings-related data on Flextronics (FLEX) click here.

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