Plexus Q2 Profit Down

(RTTNews) - Plexus Corp. (PLXS) reported that its net income for the second quarter ended April 2, 2022 declined to $26.87 million or $0.95 per share from $41.76 million or $1.42 per share in the prior year.

But net sales for the quarter grew to $888.72 million from $880.89 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share and revenues of $840.63 million for the second quarter. Analysts' estimates typically exclude special items.

The company has initiated third quarter revenue guidance of $885 million to $925 million with GAAP earnings per share of $1.02 to $1.18, including $0.21 of stock-based compensation expense. Analysts expect the company to report earnings of $1.02 per share and revenues of $875.8 million for the third quarter.