Electronic manufacturing services company Plexus (NASDAQ:PLXS) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.
Plexus beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $1.06 billion, flat year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and revenue guidance for next quarter beating 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, analysts are expecting Plexus’s revenue to grow 9.9% year on year to $1.07 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.73 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Plexus has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Plexus’s peers in the tech hardware & electronics segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Jabil delivered year-on-year revenue growth of 18.7%, beating analysts’ expectations by 3.8%, and TD SYNNEX reported revenues up 9.7%, topping estimates by 2.6%. Jabil traded up 2.1% following the results while TD SYNNEX’s stock price was unchanged.
Read our full analysis of Jabil’s results here and TD SYNNEX’s results here.
Investors in the tech hardware & electronics segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Plexus is up 16.3% during the same time and is heading into earnings with an average analyst price target of $159 (compared to the current share price of $175.81).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.