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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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.
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IMPORTANCE 75
RELEVANCE 100