Flextronics (NASDAQ: FLEX) reported Q3 EPS of $0.34, $0.03 better than the analyst estimate of $0.31. Revenue for the quarter came in at $6.9 billion versus the consensus estimate of $6.78 billion.

“During the quarter, we grew revenues, improved the quality of our sales mix, expanded margins, returned to free cash flow generation, and streamlined our investment portfolio,” said Michael Capellas, Chairman of Flex. “These results reflect our intense focus on execution in our core businesses.”

Third Quarter Fiscal 2019 Highlights:

• Net Sales: $6.9 billion, year over year growth of 3 percent
• Communications and Enterprise Compute: year over year revenue growth of 14 percent
• Industrial and Emerging Industries: year over year revenue growth of 11 percent
• High Reliability Solutions: year over year revenue down 1 percent with strong growth in Health Solutions offset by weakness in Automotive
• Consumer Technologies Group: year over year revenue down 12 percent
• GAAP Loss Before Income Taxes: $32 million
• Adjusted Operating Income: $256 million, year over year growth of 17 percent
• GAAP Net Loss: $45 million
• Adjusted Net Income: $181 million, year over year growth of 10 percent
• GAAP Net Loss Per Share: $0.09
• Adjusted EPS: $0.34

GUIDANCE:

Flextronics sees Q4 2019 EPS of $0.25-$0.28, versus the consensus of $0.27. Flextronics sees Q4 2019 revenue of $6.2-6.6 billion, versus the consensus of $6.52 billion.

• Revenue $6.2 billion to $6.6 billion
• GAAP Income Before Income Taxes $110 million to $140 million
• Adjusted Operating Income $195 million to $225 million
• GAAP EPS $0.18 to $0.21 which includes stock-based compensation expense and intangible amortization
• Adjusted EPS $0.25 to $0.28

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