Flex Ltd. (NASDAQ:FLEX) provider of services to OEM worldwide, is reporting second quarter earnings results on Thursday 29th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.27 per share.
For the full year, analysts predict revenues of $ 22426.50 million, while looking forward to income of $ 1.13 per share.
The Company Outlook
Earnings for 2Q21 are anticipated in a range of $ 0.25 ~ $ 0.31 per share, while revenues are expected in a range of $ 5,400.00 million ~ $ 5,700.00 million
Click Here For More Historical Outlooks Of Flex Ltd.
Previous Quarter Performance
Flex Ltd. unwinded income for the first quarter of $ 0.23 per share, from the revenue of $ 5,153.00 million. The quarterly earnings decreased 14.81 percent while revenues reduced 16.56 percent compared with the same quarter last year.
According to street consensus, FLEX was expected to report 1Q21 income of $ 0.17 per share from revenue of $ 4943.90 million. The bottom line results beat street analysts by $ 0.06 or 35.29 percent, at the same time, top line results outshined analysts by $ 209.10 million or 4.23 percent.
Stock Performance
Shares of Flex Ltd. traded low $ -0.53 or -3.83 percent on Wednesday, reaching $ 13.32 with volume of 5.45 million shares. Flex Ltd. has traded high as $ 13.71 and has cracked $ 13.08 on the downward trend
According to the previous trading day, closing price of $ 13.32, representing a 158.40 % increase from the 52 week low of $ 5.36 and a 11.33 % decrease over the 52 week high of $ 15.62.
The company has a market capital of $ 6.67 billion and is part of the Technology sector and Contract Manufacturers industry.
Recent Analyst recommendations
- On 16th October 2020, upgraded by RBC Capital to Outperform from Sector Perform rating, with $ 16.00 target price.
Conference Call
Flex Ltd. will be hosting a conference call at 5:00 PM eastern time on 29th October 2020, to discuss its 2Q21 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.flex.com
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through High Reliability Solutions, Industrial and Emerging Industries, Communications & Enterprise Compute, and Consumer Technologies Group segments.
