Flex Ltd reports results for the quarter ended June 30 - Earnings Summary

• Flex Ltd FLEX reported quarterly adjusted earnings of 72 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 51 cents. The mean expectation of nine analysts for the quarter was for earnings of 63 cents per share. Wall Street expected results to range from 62 cents to 63 cents per share.

• Revenue rose 4.1% to $6.58 billion from a year ago; analysts expected $6.26 billion.

• Flex Ltd's reported EPS for the quarter was 50 cents​.

• The company reported quarterly net income of $192 million.

• Flex Ltd shares had risen by 7.8% this quarter and gained 40.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electronic equipment & parts peer group is also "buy"

• Wall Street's median 12-month price target for Flex Ltd is $54.00, about 0.4% above its last closing price of $53.80

This summary was machine generated from LSEG data July 24 at 01:33 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)