Plexus Q3 revenue hits record, beating estimates on new programs' success

Overview

• U.S. electronics manufacturer reported record fiscal Q3 revenue, beating analyst expectations

• Adjusted EPS for fiscal Q3 rose to $2.32, with no analyst estimates available

• Company repurchased $20.6 mln of shares under its 2026 buyback program

Outlook

• Plexus sees fiscal Q4 revenue of $1.330 bln to $1.380 bln

• Company expects fiscal Q4 non-GAAP EPS of $2.47 to $2.63

• Plexus anticipates fiscal 2026 revenue growth in excess of 20%

Result Drivers

• END MARKET DEMAND - Co said record Q3 revenue was driven by strengthening end market demand and successful new program launches

• NEW PROGRAM WINS - Quarterly manufacturing wins of $255 mln in annualized revenue included significant Aerospace/Defense and Industrial sector gains, per CEO Todd Kelsey

• WORKING CAPITAL EFFICIENCY - Improved cash cycle of 62 days contributed to operating performance, per CFO David Abuhl

Company press release: ID:nGNX8yzkGf

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electronic equipment parts peer group is "buy"

• Wall Street's median 12-month price target for Plexus Corp is $310.00, about 24% above its July 28 closing price of $250.08

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 25 three months ago

Reuters Recommended Reads

• July 29 - Flex Q1 sales beat estimates; outlook raised

• July 27 - Sanmina raises fiscal 2026 outlook after Q3 beat

• July 29 - Electronic gear maker Amphenol forecasts upbeat quarterly revenue on data center demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)