Flex Ltd. (NASDAQ: FLEX) reported Q1 EPS of $0.23, $0.06 better than the analyst estimate of $0.17. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $4.94 billion.

“The Flex team delivered strong results in Q1, overcoming the challenges presented by the COVID-19 pandemic. Our ability to deliver better than expected results, even in this difficult environment, is a testament to our disciplined, world-class execution,” said Revathi Advaithi, Chief Executive Officer of Flex. “We continue to make progress on our long-term strategy which has been validated during this dynamic time through our ability to focus and scale to meet the needs of our diverse customer base.”

“We made solid progress on driving efficiencies and reducing costs during the quarter which better positions the company to effectively manage through this environment,” added Chris Collier, Chief Financial Officer of Flex. “We anticipate a sequential recovery for all of our end markets in the second quarter of fiscal 2021, however we expect overall revenue to be under pressure due to the uncertainty of the crisis. We will continue to make sequential improvements in profitability and adjusted earnings per share.”

GUIDANCE:

Flex Ltd. sees Q2 2021 EPS of $0.25-$0.31, versus the consensus of $0.24. Flex Ltd. sees Q2 2021 revenue of $5.4-5.7 billion, versus the consensus of $5.36 billion.

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