Electronic manufacturing services company Plexus (NASDAQ: PLXS) will be reporting results this Wednesday after market close. Here’s what investors should know.
Plexus met analysts’ revenue expectations last quarter, reporting revenues of $1.07 billion, up 9.6% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS guidance for next quarter estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is Plexus a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Plexus’s revenue to grow 15.4% year on year, improving from the 1.4% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Plexus has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Plexus’s peers in the tech hardware & electronics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Jabil delivered year-on-year revenue growth of 23.1%, beating analysts’ expectations by 6.8%, and Knowles reported revenues up 15.8%, topping estimates by 3.9%. Jabil traded up 1.1% following the results while Knowles was down 2.1%.
Read our full analysis of Jabil’s results here and Knowles’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 13.1% on average over the last month. Plexus is up 28.9% during the same time and is heading into earnings with an average analyst price target of $210.80 (compared to the current share price of $248.80).
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