Plexus Q1 2024 GAAP EPS $1.04, Inline, Sales $983.00M Miss $987.63M Estimate
Portfolio Pulse from Benzinga Newsdesk
Plexus Corp. (NASDAQ:PLXS) reported Q1 2024 earnings per share (EPS) of $1.04, which was in line with analyst expectations. However, the company's quarterly sales of $983.00 million fell short of the consensus estimate of $987.63 million by 0.47%. This represents a 10.15% decrease in sales compared to the same period last year.
January 24, 2024 | 9:22 pm
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NEGATIVE IMPACT
Plexus Corp. reported Q1 2024 earnings that met analyst estimates but experienced a slight miss in revenue and a significant year-over-year decline in sales.
Meeting EPS estimates typically has a neutral to positive effect on stock performance. However, missing revenue estimates and reporting a significant decrease in sales year-over-year are negative indicators that can lead to a bearish outlook in the short term. Investors may be concerned about the company's growth and profitability, which could put downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100