Plexus Announces Preliminary Fiscal First Quarter 2024 Results and Additional Share Repurchase Program
NEENAH, Wis., Jan. 16, 2024 (GLOBE NEWSWIRE) — Plexus Corp. (NASDAQ:PLXS) announced today that it will not meet its fiscal first quarter revenue guidance of $990 million to $1.03 billion, GAAP operating margin of 4.8% to 5.3% and GAAP EPS of $1.15 to $1.33, as issued October 25, 2023. 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.