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Investing.com -- Flex Ltd (NASDAQ:FLEX) reported first quarter fiscal 2026 earnings that exceeded analyst expectations, but shares fell 5% following the announcement despite the strong performance.
The contract manufacturer posted adjusted earnings per share of $0.72, beating the analyst estimate of $0.63 by $0.09. Revenue came in at $6.6 billion, surpassing the consensus estimate of $6.26 billion. The company did not provide year-over-year revenue comparison figures in its release.
For the second quarter of fiscal 2026, Flex expects revenue between $6.5 billion and $6.8 billion, compared to the analyst consensus of $6.54 billion. The company forecasts adjusted EPS of $0.70 to $0.78, with the midpoint of $0.74 slightly above the consensus estimate of $0.73.
"Our first quarter results are a great start to FY26 and a testament to the strength of our strategic focus on high-growth end-markets like data center and power," said Revathi Advaithi, CEO of Flex. "We’ve built and scaled a regionalized footprint and integrated services in a way that continues to transform Flex into a strategic, end-to-end partner."
Flex also updated its full-year fiscal 2026 guidance, projecting revenue between $25.9 billion and $27.1 billion, with the midpoint of $26.5 billion slightly above the analyst consensus of $26.19 billion. The company expects adjusted EPS of $2.86 to $3.06 for the year, with the midpoint of $2.96 matching analyst expectations.
On a GAAP basis, the company reported operating income of $311 million and net income of $192 million for the first quarter, resulting in GAAP earnings per share of $0.50.
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