Flex Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 03, 2024 at 03:52 am IST
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Flex Ltd. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was USD 7,103 million compared to USD 7,756 million a year ago. Net income was USD 197 million compared to USD 230 million a year ago. Basic earnings per share from continuing operations was USD 0.46 compared to USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 0.5 a year ago.
For the nine months, sales was USD 21,910 million compared to USD 22,869 million a year ago. Net income was USD 611 million compared to USD 651 million a year ago. Basic earnings per share from continuing operations was USD 1.39 compared to USD 1.43 a year ago. Diluted earnings per share from continuing operations was USD 1.37 compared to USD 1.41 a year ago.
Flex Ltd. is engaged in providing a portfolio of manufacturing solutions and services. The Company operates through three segments: Flex Agility Solutions (FAS), and Flex Reliability Solutions (FRS). The FAS segment is comprised of various end markets, such as Communications, Enterprise, and Cloud (CEC), including data infrastructure, edge infrastructure and communications infrastructure; Lifestyle, including appliances, consumer packaging, floorcare, micro mobility and audio; and Consumer Devices, including mobile and high velocity consumer devices. The FRS segment consists of end markets, such as Automotive, including mobility, autonomous, connectivity, electrification, and smart technologies; Health Solutions, including medical devices, medical equipment, and drug delivery; and Industrial, including capital equipment, industrial devices, and renewables and grid edge.