Plexus Q3 Profit Beats View

(RTTNews) - Plexus Corp. (PLXS) reported that its net income for third quarter ended July 2, 2022 rose to $37.49 million or $1.33 per share from $27.61 million or $0.95 per share in the same quarter last year.

Adjusted earnings per share were $1.33 compared to $0.99 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share. Analysts' estimates typically exclude special items. Net sales for the third quarter grew to $981.34 million from $814.39 million in the prior year. Analysts expected revenue of $909.43 million for the quarter.

The company has initiated fiscal fourth quarter revenue guidance of $980 million to $1.020 billion with GAAP earnings per share of $1.19 to $1.35, including $0.22 of stock-based compensation expense. Analysts expect the company to report earnings of $1.19 per share and revenues of $941 million for the fourth quarter.

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