January 25, 2023
FLEX REPORTS THIRD QUARTER FISCAL 2023 RESULTS
Flex (NASDAQ: FLEX) today announced results for its third quarter ended December 31, 2022. Third Quarter Fiscal Year 2023 Highlights: Net Sales: $7.8 billion GAAP Operating Income: $321 million Adjusted Operating Income: $372 million GAAP Net Income Attributable to Flex Ltd.: $230 million Adjusted Net Income: $285 million GAAP Earnings Per Share: $0.50 Adjusted Earnings Per Share: $0.62 An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules II and V attached to this press release. "We achieved another strong quarter through the focused efforts of the team, and strong execution against healthy demand," said Revathi Advaithi, CEO of Flex. "I remain confident about the resiliency of our portfolio and our ability to deliver growth and value to our stakeholders." Fourth Quarter Fiscal 2023 Guidance Revenue: $7.0 billion to $7.4 billion GAAP Operating Income: $268 million to $298 million Adjusted Operating Income: $315...
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January 17, 2023
Flex factory in Sorocaba recognized as the first Sustainability Lighthouse in Brazil by the World Economic Forum
Flex (NASDAQ: FLEX) today announced its factory site in Sorocaba, Brazil has been designated as a Sustainability Lighthouse, a special distinction of the World Economic Forum's Global Lighthouse Network (GLN) . This is the first factory in Brazil to receive a Sustainability Lighthouse recognition and comes just three months after the company's factory in Sorocaba was admitted into the GLN . To achieve the Sustainability Lighthouse designation, the Flex team in Sorocaba, Brazil demonstrated a substantial reduction in their environmental footprint. In a journey spanning almost a decade, the team developed an innovative, smart and sustainable circular economy ecosystem that leverages Fourth Industrial Revolution (4IR) technologies, including a cloud-based reverse logistics system, automated materials separation, and IoT-enabled collection bins to transform electronic waste and reintroduce materials into the supply chain by repairing, harvesting and recycling parts and materials. The Flex...
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January 13, 2023
Nextracker Files Registration Statement for Proposed Initial Public Offering
Flex Ltd. (NASDAQ: FLEX) announced today that its subsidiary, Nextracker Inc. ("Nextracker"), has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to a proposed initial public offering of shares of Nextracker's Class A common stock ("Common Stock"). In connection with the proposed offering, Nextracker intends to list its Common Stock on the Nasdaq Global Select Market under the ticker symbol "NXT." The timing, number of shares of Common Stock to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions. J.P. Morgan, BofA Securities, Citigroup, and Barclays are acting as joint lead book-running managers for the proposed offering. Truist Securities, HSBC, BNP PARIBAS, Mizuho, Scotiabank, and KeyBanc Capital Markets are acting as joint book-running managers for the proposed offering. SMBC Nikko, BTIG, UniCredit, and Roth Capital Partners...
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