Flex Surges On Q1 Earnings Beat - CFO Transition Announced
Portfolio Pulse from Nabaparna Bhattacharya
Flex Ltd. (NASDAQ:FLEX) shares surged after the company reported better-than-expected Q1 earnings and revenue. The company also announced a CFO transition, with Paul Lundstrom stepping down and Jaime Martinez taking over as Interim CFO. Flex provided optimistic guidance for Q2 and FY25.
July 24, 2024 | 1:54 pm
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Flex Ltd. reported Q1 adjusted EPS of 51 cents, beating the consensus of 41 cents, and revenues of $6.3 billion, surpassing the expected $5.91 billion. The company announced a CFO transition and provided positive guidance for Q2 and FY25.
The better-than-expected Q1 earnings and revenue, along with positive guidance for Q2 and FY25, are likely to boost investor confidence. The CFO transition is a notable event but does not overshadow the strong financial performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100