Electronic manufacturing services company Plexus (NASDAQ: PLXS) will be announcing earnings results this Wednesday afternoon. Here’s what to look for.
Plexus met analysts’ revenue expectations last quarter, reporting revenues of $980.2 million, up 1.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EPS estimates but a slight miss of analysts’ EPS guidance for next quarter estimates.
Is Plexus a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Plexus’s revenue to grow 6.3% year on year to $1.02 billion, a reversal from the 6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.71 per share.
The majority of analysts covering the company have 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 Q2 results, giving us a hint as to what we can expect. Jabil delivered year-on-year revenue growth of 15.7%, beating analysts’ expectations by 11.2%, and TD SYNNEX reported revenues up 7.2%, topping estimates by 4.4%. Jabil traded up 13.1% following the results while TD SYNNEX was also up 7.9%.
Read our full analysis of Jabil’s results here and TD SYNNEX’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 4.5% on average over the last month. Plexus is up 1.4% during the same time and is heading into earnings with an average analyst price target of $153.40 (compared to the current share price of $135.56).
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