Plexus

Plexus Announces Fiscal First Quarter Financial Results

Retrieved on: 
Wednesday, January 24, 2024
Environment, Attention, GAAP, Share repurchase, Plexus, EPS, Engineering, Growth

Includes stock-based compensation expense of $0.19 for Q1F24 results, $0.19 for Q1F24 guidance and $0.25 for Q2F24 guidance.

Key Points: 
  • Includes stock-based compensation expense of $0.19 for Q1F24 results, $0.19 for Q1F24 guidance and $0.25 for Q2F24 guidance.
  • Refer to Non-GAAP Supplemental Information in Tables 1 and 2 for additional information regarding non-GAAP financial measures.
  • For the fiscal first quarter, our team won 30 new manufacturing programs worth $261 million in annualized revenue.
  • We expect to complete these actions by our fiscal third quarter, and believe they will result in approximately $20 million of annualized cost savings.”
    Patrick Jermain, Chief Financial Officer, commented, “We are guiding slightly higher cash cycle days for our fiscal second quarter related to additional working capital investments in support of new program ramps.

Plexus Announces Preliminary Fiscal First Quarter 2024 Results and Additional Share Repurchase Program

Retrieved on: 
Tuesday, January 16, 2024
GAAP, Share repurchase, Plexus, EPS

As the fiscal first quarter progressed, the company experienced continued market-driven inventory corrections and incrementally weaker demand from the Healthcare/Lifesciences and Industrial market sectors.

Key Points: 
  • As the fiscal first quarter progressed, the company experienced continued market-driven inventory corrections and incrementally weaker demand from the Healthcare/Lifesciences and Industrial market sectors.
  • Plexus now expects to announce fiscal first quarter revenue of $980 to $985 million, GAAP operating margin of approximately 4.6% and GAAP diluted EPS of $1.02 to $1.06.
  • Plexus management will provide a detailed update on its fiscal first quarter results and its second fiscal quarter guidance as part of a conference call on Thursday, January 25 at 8:30 a.m. Eastern Time.
  • Fiscal first quarter 2024 results will be released after market close on January 24, 2024.

Plexus Provides Update on Unverified List Designation

Retrieved on: 
Wednesday, December 20, 2023
Unverified List, Commerce, BIS, Bureau, Plexus

NEENAH, WI, Dec. 20, 2023 (GLOBE NEWSWIRE) -- On December 19, 2023, Plexus Corp. (NASDAQ: PLXS) learned that the U.S Department of Commerce placed its Xiamen, China subsidiary (“Plexus Xiamen”) on the Bureau of Industry and Security’s (“BIS”) Unverified List.

Key Points: 
  • NEENAH, WI, Dec. 20, 2023 (GLOBE NEWSWIRE) -- On December 19, 2023, Plexus Corp. (NASDAQ: PLXS) learned that the U.S Department of Commerce placed its Xiamen, China subsidiary (“Plexus Xiamen”) on the Bureau of Industry and Security’s (“BIS”) Unverified List.
  • Companies appearing on the Unverified List are not barred from conducting business with the United States and their U.S. customers and suppliers.
  • Plexus maintains a robust export compliance program across all of its international operations and is not currently aware of any facts or circumstances meriting the designation.
  • We are also working to understand and address BIS’s questions and expedite Plexus Xiamen's removal from the Unverified List.

Plexus Worldwide Continues Strong Support of Breast Cancer Awareness Initiatives

Retrieved on: 
Monday, December 11, 2023
Feeding America, Cancer Support Community, Research, Organization, American Cancer Society, Breast cancer, Breast Cancer Awareness Month, McGrath Foundation, Organic, Health, BCAM, Cancer, Canadian Cancer Society, Birth control, Plexus

Through its Strong in Pink initiative, Plexus continued to support charities including Cancer Support Community Arizona , Feeding America ®, and other affiliates across the United States including Cancer Support Community Los Angeles , Cancer Support Community Central Ohio , and Gilda's Club Middle Tennessee in honor of October's Breast Cancer Awareness Month.

Key Points: 
  • Through its Strong in Pink initiative, Plexus continued to support charities including Cancer Support Community Arizona , Feeding America ®, and other affiliates across the United States including Cancer Support Community Los Angeles , Cancer Support Community Central Ohio , and Gilda's Club Middle Tennessee in honor of October's Breast Cancer Awareness Month.
  • In recognition of BCAM, when both Plexus Lean and Plexus Slim were purchased, Plexus doubled its standard Nourish One donation to Feeding America and made a matching donation to Cancer Support Community Arizona and affiliate organizations across the globe to provide much-needed resources and support to individuals affected by breast cancer.
  • Plexus Worldwide has demonstrated its unwavering commitment to fighting breast cancer by donating over $477,000 to breast cancer organizations across the United States and around the world since 2019.
  • The company's dedication to this cause remains strong, and it's committed to expanding its support for breast cancer awareness initiatives in the years to come.

Plexus Worldwide® Participates in Hunger Action Month® for the 5th Year in a Row

Retrieved on: 
Tuesday, November 7, 2023
Meal, St. Mary's Food Bank Alliance, Health, Food, Slim, Missionary, Feeding America, Nourishing USA, Partnership, Plexus, Food bank, Agriculture, Food industry, Hunger

SCOTTSDALE, Ariz., Nov. 7, 2023 /PRNewswire/ -- For the 5th straight year, Plexus Worldwide , a leading health and wellness company, continued its mission to help end hunger through donations and volunteer efforts as part of Hunger Action Month®.

Key Points: 
  • SCOTTSDALE, Ariz., Nov. 7, 2023 /PRNewswire/ -- For the 5th straight year, Plexus Worldwide , a leading health and wellness company, continued its mission to help end hunger through donations and volunteer efforts as part of Hunger Action Month®.
  • Each September, Feeding America®, the nation's largest hunger-relief organization, hosts Hunger Action Month nationwide to raise awareness about hunger in America and inspire action.
  • Through volunteer efforts at St. Mary's Food Bank, 114 members of the Plexus community showed up for Hunger Action Month and donated the equivalent of 342 volunteer hours.
  • In total, Plexus packed and donated 64,212 meals in honor of Hunger Action Month.

Brightwood Capital Advisors Provides Financing to Support Plexus Capital’s Acquisition of Southern Elevator Group

Retrieved on: 
Thursday, October 26, 2023
Finance, Banking, Professional Services, Commercial Building & Real Estate, Construction & Property, Plexus, Mission Capital Advisors, Growth, Safety, Acquisition, Financial services, Management

Brightwood Capital Advisors, LLC, a private credit firm, announced it has provided financing to support the acquisition of Southern Elevator Group, Inc. (“Southern” or the “Company”) by Plexus Capital (“Plexus”).

Key Points: 
  • Brightwood Capital Advisors, LLC, a private credit firm, announced it has provided financing to support the acquisition of Southern Elevator Group, Inc. (“Southern” or the “Company”) by Plexus Capital (“Plexus”).
  • Southern Elevator Group is a provider of elevator maintenance, modernization, installation, and repair services with over 70 years of experience.
  • Through this new chapter with Plexus, Southern is poised to accelerate its growth and enhance its service offerings.
  • “Southern provides services and expertise critical to enabling every-day functions across the elevator industry, and we look forward to supporting the Company’s continued success.”

Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2023 Financial Results

Retrieved on: 
Wednesday, October 25, 2023
Plexus, Bevis Bulmer, Cool (aesthetic), Share repurchase, EPS, GAAP, Pharmaceutical industry

For fiscal 2023, we delivered revenue growth in excess of 10%, 5.2% non-GAAP operating margin and free cash flow of $62 million.

Key Points: 
  • For fiscal 2023, we delivered revenue growth in excess of 10%, 5.2% non-GAAP operating margin and free cash flow of $62 million.
  • Contributing to this strong performance was our fiscal fourth quarter cash cycle of 87 days, which was favorable to our expectations and sequentially lower by 3 days.
  • For fiscal 2023, we delivered return on invested capital of 13.4%, which was 440 basis points above our weighted average cost of capital.
  • Consequently, we remain confident in achieving our goal of $5 billion in revenue with 5.5% GAAP operating margin by our fiscal 2025.”

Gate Web3 Wallet Integrates with Plexus and 3 Other Innovative Platforms

Retrieved on: 
Wednesday, October 25, 2023
Maker, Plexus, Blockchain, DEX, Trust, NFT, Ecosystem, Multimedia, PANAMA, Cryptocurrency, Escrow

PANAMA CITY, Oct. 25, 2023 /PRNewswire/ -- Gate Web3 Wallet, the non-custodial multi-chain wallet developed by Gate.io, has recently integrated with four innovative platforms – Plexus, Eskrow, Atticc, and Ivy Maker.

Key Points: 
  • PANAMA CITY, Oct. 25, 2023 /PRNewswire/ -- Gate Web3 Wallet, the non-custodial multi-chain wallet developed by Gate.io, has recently integrated with four innovative platforms – Plexus, Eskrow, Atticc, and Ivy Maker.
  • The new integrations bolster the list of platforms that Gate Web3 Wallet users can seamlessly connect to and interact with.
  • The latest integrations mark a push from the Gate Web3 Wallet team to broaden the horizons for users of its non-custodial wallet and the Gate Web3 ecosystem of decentralized applications.
  • With the Gate Web3 Wallet natively supported, the Gate Web3 ecosystem provides users with an all-in-one platform for accessing the latest decentralized technologies.

Plexus Sets Fiscal Fourth Quarter 2023 Earnings Release Date

Retrieved on: 
Thursday, October 5, 2023
Plexus

NEENAH, WI, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today it will release its fiscal fourth quarter 2023 results after market close on Wednesday, October 25, 2023.

Key Points: 
  • NEENAH, WI, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today it will release its fiscal fourth quarter 2023 results after market close on Wednesday, October 25, 2023.
  • Plexus’ management will host a conference call to discuss its fiscal fourth quarter results on Thursday, October 26 at 8:30 a.m. Eastern Time.
  • An audio webcast of the call and accompanying slides will be available in the investor relations section of the company website, plexus.com.
  • Participants are encouraged to join the live webcast at the investor relations section of the Plexus website, plexus.com .

Carabiner Communications Is A Sponsor Of The 2023 National Cyber Summit

Retrieved on: 
Tuesday, September 12, 2023
Von Braun Center, Learning, Fintech, Atlanta Business Chronicle, Health, Carabiner, Plexus, PR, Cryptocurrency, Arms industry

ATLANTA and HUNTSVILLE, Ala., Sept. 12, 2023 /PRNewswire/ -- Carabiner Communications, an Atlanta-based full-spectrum marketing and public relations firm, announced today that it is a Bronze Sponsor of the 14th annual National Cyber Summit conference taking place at Huntsville's Von Braun Center on September 20-21. The National Cyber Summit is the nation's most innovative cybersecurity technology event, offering diverse focus areas, top speakers, and unmatched accessibility.

Key Points: 
  • The National Cyber Summit is the nation's most innovative cybersecurity technology event, offering diverse focus areas, top speakers, and unmatched accessibility.
  • "The National Cyber Summit provides one of the best ways to learn, collaborate, and meet innovators and leaders in the cybersecurity arena," said Peter Baron , CEO of Carabiner Communications.
  • "The National Cyber Summit is one of the largest and longest-running events of its kind in the country, offering unique educational, collaborative, and workforce-development opportunities," said Jamie Miller, President of Cyber Huntsville and President/CEO of cybersecurity company Mission Multiplier.
  • Carabiner Communications is also part of the Plexus PR Group, a prestigious international network of communications agencies.