Plexus (PLXS) Q4 Earnings Report: Key Factors to Watch

Plexus, a prominent electronic manufacturing services company, is scheduled to release its Q4 earnings report this Wednesday after the market closes. In the previous quarter, Plexus exceeded analysts’ revenue projections by 1.1%, with reported revenues of $1.06 billion, showing no year-on-year growth. The company performed well, surpassing analysts’ earnings per share (EPS) estimates and revenue guidance for the upcoming quarter. Investors are eager to see if Plexus continues its positive momentum. Analysts anticipate a 9.9% increase in revenue year on year to $1.07 billion for this quarter, a significant improvement from the flat revenue reported in the same quarter a year ago. Adjusted earnings per share are projected to be $1.73.

Analysts, who have maintained their estimates over the past month, seem confident about Plexus’s performance leading into earnings. However, it is worth noting that Plexus has missed Wall Street revenue estimates on four occasions in the last two years. The tech hardware & electronics sector has seen some of Plexus’s peers already release their Q4 results, providing insight into potential trends. Companies like Jabil posted a year-on-year revenue growth of 18.7%, exceeding estimates by 3.8%, and TD SYNNEX reported a revenue increase of 9.7%, surpassing expectations by 2.6%. While Jabil’s stock rose by 2.1% following the announcement, TD SYNNEX’s stock price remained unchanged.

Investors in the tech hardware & electronics industry have remained steady ahead of earnings, with average share prices increasing by 1.8% over the last month. Plexus has outperformed this average, with a 16.3% increase in its stock price during the same period. Despite this growth, the average analyst price target for Plexus stands at $159, lower than the current share price of $175.81.

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