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Plexus Announces Fiscal Second Quarter Financial Results

Retrieved on:

Wednesday, April 24, 2024

Beginning in the fiscal third quarter, Plexus will issue guidance and present adjusted operating margin and adjusted EPS excluding stock-based compensation expense.

Key Points:

Beginning in the fiscal third quarter, Plexus will issue guidance and present adjusted operating margin and adjusted EPS excluding stock-based compensation expense.
Includes stock-based compensation expense of 73 bps for Q2F24 results, 72 bps for Q2F24 guidance and 60 bps for Q3F24 guidance.
Todd Kelsey, Chief Executive Officer, commented, “Plexus delivered fiscal second quarter revenue of $967 million and non-GAAP EPS of $0.94, each of which met the top end of our guidance.
Finally, we repurchased $17.6 million of our shares during the fiscal second quarter.

Plexus Sets Fiscal Second Quarter 2024 Earnings Release Date

Retrieved on:

Wednesday, April 10, 2024

Plexus

NEENAH, WI, April 10, 2024 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today it will release its fiscal second quarter 2024 results after market close on Wednesday, April 24, 2024.

Key Points:

NEENAH, WI, April 10, 2024 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today it will release its fiscal second quarter 2024 results after market close on Wednesday, April 24, 2024.
Plexus’ management will host a conference call to discuss its fiscal second quarter results on Thursday, April 25, 2024 at 8:30 a.m. Eastern Time.
An audio webcast of the call and accompanying slides will be available in the investor relations section of the company website, plexus.com.
Participants are encouraged to join the live webcast at the investor relations section of the Plexus website, plexus.com .

Plexus to Present at the Raymond James 45th Annual Institutional Investors Conference

Retrieved on:

Tuesday, February 20, 2024

Conference, Webcast, Broadcasting

NEENAH, WI, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today that it will attend the Raymond James 45th Annual Institutional Investors Conference in Orlando, FL on March 4, 2024.

Key Points:

NEENAH, WI, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today that it will attend the Raymond James 45th Annual Institutional Investors Conference in Orlando, FL on March 4, 2024.
During the conference, Raymond James will host a fireside chat with Plexus’ management team at 1:05 p.m. Eastern Time.
The fireside chat will be available via live webcast.
Participants are encouraged to join the live webcast by accessing the following link: https://wsw.com/webcast/rj129/plxs/1635560
The webcast will be available through the following link for 90 days following the live event: https://wsw.com/webcast/rj129/plxs/1635560

Mativ Announces Fourth Quarter and Full Year 2023 Results

Retrieved on:

Wednesday, February 21, 2024

Natural Resources, Manufacturing, Other Manufacturing, Packaging, Forest Products, 8-K, Growth, Sale, GAAP, Comparable, SWM, MATV, EPS, Bank

Mativ Holdings, Inc. ("Mativ" or the "Company") (NYSE: MATV) reported earnings results for the three months and year ended December 31, 2023.

Key Points:

Mativ Holdings, Inc. ("Mativ" or the "Company") (NYSE: MATV) reported earnings results for the three months and year ended December 31, 2023.
Financial results for periods prior to the Merger reflect only the continuing operations of legacy SWM results.
On November 30, 2023, Mativ closed the sale of its Engineered Papers business (the "EP Divestiture"), which is now presented as discontinued operations.
"Throughout these headwinds in 2023, we focused on what we could control and continued to make the right long-term decisions.

Plexus Announces Fiscal First Quarter Financial Results

Retrieved on:

Wednesday, January 24, 2024

Environment, Attention, GAAP, Share repurchase, Plexus, EPS, Engineering, Growth

Includes stock-based compensation expense of $0.19 for Q1F24 results, $0.19 for Q1F24 guidance and $0.25 for Q2F24 guidance.

Key Points:

Includes stock-based compensation expense of $0.19 for Q1F24 results, $0.19 for Q1F24 guidance and $0.25 for Q2F24 guidance.
Refer to Non-GAAP Supplemental Information in Tables 1 and 2 for additional information regarding non-GAAP financial measures.
For the fiscal first quarter, our team won 30 new manufacturing programs worth $261 million in annualized revenue.
We expect to complete these actions by our fiscal third quarter, and believe they will result in approximately $20 million of annualized cost savings.”
Patrick Jermain, Chief Financial Officer, commented, “We are guiding slightly higher cash cycle days for our fiscal second quarter related to additional working capital investments in support of new program ramps.

Plexus Announces Preliminary Fiscal First Quarter 2024 Results and Additional Share Repurchase Program

Retrieved on:

Tuesday, January 16, 2024

GAAP, Share repurchase, Plexus, EPS

As the fiscal first quarter progressed, the company experienced continued market-driven inventory corrections and incrementally weaker demand from the Healthcare/Lifesciences and Industrial market sectors.

Key Points:

As the fiscal first quarter progressed, the company experienced continued market-driven inventory corrections and incrementally weaker demand from the Healthcare/Lifesciences and Industrial market sectors.
Plexus now expects to announce fiscal first quarter revenue of $980 to $985 million, GAAP operating margin of approximately 4.6% and GAAP diluted EPS of $1.02 to $1.06.
Plexus management will provide a detailed update on its fiscal first quarter results and its second fiscal quarter guidance as part of a conference call on Thursday, January 25 at 8:30 a.m. Eastern Time.
Fiscal first quarter 2024 results will be released after market close on January 24, 2024.

Plexus Provides Update on Unverified List Removal

Retrieved on:

Wednesday, December 27, 2023

Unverified List, Commerce, BIS, Bureau, Organization, Federal Register, Register

NEENAH, WI, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) today received notification through official written correspondence from the U.S. Department of Commerce that its China subsidiary (“Plexus Xiamen”) will be removed from the Bureau of Industry and Security’s (“BIS”) Unverified List.

Key Points:

NEENAH, WI, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) today received notification through official written correspondence from the U.S. Department of Commerce that its China subsidiary (“Plexus Xiamen”) will be removed from the Bureau of Industry and Security’s (“BIS”) Unverified List.
Through no fault of Plexus or the BIS, a delay in the routine verification of a shipment to Plexus Xiamen occurred, which as a result of strong cooperation between the organizations has now been swiftly rectified.
The Department of Commerce has commenced an administrative process to publish the removal of Plexus from the Unverified List in the Federal Register, which the company anticipates to occur in January 2024.
Plexus remains committed to compliance with all applicable U.S. export control laws, and to working with BIS in a transparent, collaborative manner.

Plexus Provides Update on Unverified List Designation

Retrieved on:

Wednesday, December 20, 2023

Unverified List, Commerce, BIS, Bureau, Plexus

NEENAH, WI, Dec. 20, 2023 (GLOBE NEWSWIRE) -- On December 19, 2023, Plexus Corp. (NASDAQ: PLXS) learned that the U.S Department of Commerce placed its Xiamen, China subsidiary (“Plexus Xiamen”) on the Bureau of Industry and Security’s (“BIS”) Unverified List.

Key Points:

NEENAH, WI, Dec. 20, 2023 (GLOBE NEWSWIRE) -- On December 19, 2023, Plexus Corp. (NASDAQ: PLXS) learned that the U.S Department of Commerce placed its Xiamen, China subsidiary (“Plexus Xiamen”) on the Bureau of Industry and Security’s (“BIS”) Unverified List.
Companies appearing on the Unverified List are not barred from conducting business with the United States and their U.S. customers and suppliers.
Plexus maintains a robust export compliance program across all of its international operations and is not currently aware of any facts or circumstances meriting the designation.
We are also working to understand and address BIS’s questions and expedite Plexus Xiamen's removal from the Unverified List.

Plexus Joins the United Nations Global Compact

Retrieved on:

Friday, December 15, 2023

United Nations Global Compact, Global Compact, Movement, Disclosure, United, UN, United Nations, Environment, Management

NEENAH, WI, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today that it has joined the United Nations (UN) Global Compact, a voluntary leadership platform for the development, implementation and disclosure of socially responsible business practices.

Key Points:

NEENAH, WI, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) announced today that it has joined the United Nations (UN) Global Compact, a voluntary leadership platform for the development, implementation and disclosure of socially responsible business practices.
The UN Global Compact is a call to companies to align operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption, and to take action in support of the goals and issues embodied in the UN Sustainable Development Goals.
Todd Kelsey, Chief Executive Officer, commented, “Joining the UN Global Compact is representative of our unwavering commitment to our vision of building a better world through sustainable and responsible business practices.
As we advance the positive impact we can have for our team members, customers and the communities where we operate, we are thrilled to join this global movement of sustainable companies and stakeholders.”
Launched in 2000, the UN Global Compact is the largest global corporate sustainability initiative, with more than 15,000 participating companies and 3,000 non-business signatories based in over 160 countries, and more than 70 local networks.

Mativ Announces Third Quarter 2023 Results

Retrieved on:

Wednesday, November 8, 2023

Mativ Holdings, Inc. ("Mativ" or the "Company") (NYSE: MATV) reported earnings results for the three months ended September 30, 2023.

Key Points:

Mativ Holdings, Inc. ("Mativ" or the "Company") (NYSE: MATV) reported earnings results for the three months ended September 30, 2023.
Financial results for periods prior to the July 6, 2022 merger reflect only the continuing operations of legacy SWM results.
On August 1, 2023, Mativ Holdings, Inc. (“Mativ” or the “Company”) announced the planned sale of its Engineered Papers business, which is now presented as discontinued operations.
Note: The Reported Results below reflect consolidated Mativ results in the current and prior period.