Electronic manufacturing services company Plexus (NASDAQ: PLXS) will be reporting results this Wednesday after the bell. Here’s what you need to know.
Plexus beat analysts’ revenue expectations last quarter, reporting revenues of $1.16 billion, up 18.7% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EPS guidance for next quarter estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is Plexus a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Plexus’s revenue to grow 21.1% year on year, improving from the 6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Plexus has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Plexus’s peers in the tech hardware & electronics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Knowles delivered year-on-year revenue growth of 14.3%, beating analysts’ expectations by 6.3%, and Jabil reported revenues up 11.8%, topping estimates by 2.3%. Knowles traded down 3.6% following the results while Jabil’s stock price was unchanged.
Read our full analysis of Knowles’s results here and Jabil’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 3.2% on average over the last month. Plexus is down 11.9% during the same time and is heading into earnings with an average analyst price target of $293.25 (compared to the current share price of $253.47).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
