Flex Ltd reports results for the quarter ended September 30 - Earnings Summary

• Flex Ltd reported quarterly adjusted earnings of $1.18​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 79 cents. The mean expectation of twelve analysts for the quarter was for earnings of $1.05 per share. Wall Street expected results to range from $1.04 to $1.06 per share.

• Revenue rose 24.8% to $8.49 billion from a year ago; analysts expected $8.14 billion.

• Flex Ltd's reported EPS for the quarter was 70 cents​.

• The company reported quarterly net income of $263 million.

• Flex Ltd shares had fallen by 24.2% this quarter and gained 38.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.3% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electronic equipment & parts peer group is also "buy"

• Wall Street's median 12-month price target for Flex Ltd is $150.00, about 44.4% above its last closing price of $83.35

This summary was machine generated from LSEG data October 28 at 02:52 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)