Flextronics (FLEX) Tops Q3 EPS by 4c; Guides In-Line

Flextronics (NASDAQ: FLEX) reported Q3 EPS of $0.35, $0.04 better than the analyst estimate of $0.31. Revenue for the quarter came in at $6.76 billion versus the consensus estimate of $6.51 billion.

GUIDANCE:

Flextronics sees Q4 2016 EPS of $0.25-$0.31, versus the consensus of $0.27. Flextronics sees Q4 2016 revenue of $5.5-6.1 billion, versus the consensus of $5.98 billion.

"We continue to position our company as a leader in the IoT space, and our third quarter demonstrated sequential growth across all four of our business groups, resulting from new programs and an improving engagement model," said Mike McNamara, chief executive officer at Flex. "Operating margins improved both sequentially and year-over-year, a testament to the stronger value proposition we are delivering to our customers."

"Our adjusted earnings per diluted share were $0.35 this quarter, representing an all-time high for the Company, and we generated $278 million in cash flow from operations and $158 million in free cash flow during the quarter," said Chris Collier, chief financial officer at Flex. "Our consistent free cash flow generation reflects our strong discipline and execution and enables our consistent stock repurchase."

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

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