FLEX LTD. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>FLEX LTD. has submitted its quarterly 10-Q filing for the period ending December 31, 2023.</b>

AI Summary

FLEX LTD. (FLEX) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. FLEX LTD. filed a 10-Q report for the period ending December 31, 2023. The filing covers the period from April 1, 2023, to December 31, 2023. The company's fiscal year ends on March 31. FLEX LTD. was formerly known as FLEXTRONICS INTERNATIONAL LTD. and FLEX HOLDINGS PTE LTD. The company's business address is 2 CHANGI SOUTH LANE, SINGAPORE.

Why It Matters

For investors and stakeholders tracking FLEX LTD., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position during the third quarter of its fiscal year. Understanding the details within this 10-Q is crucial for assessing FLEX LTD.'s current operational health and future prospects.

Risk Assessment

Risk Level: low — FLEX LTD. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine periodic report and does not contain unusual or high-risk information.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand FLEX LTD.'s performance and outlook.

Key Numbers

• 2023-12-31 — Period of Report (Conformed Period of Report)
• 2024-02-02 — Filing Date (Filed as of date)
• 2023-04-01 — Quarter Start Date (Reporting period start date)
• 2023-12-31 — Quarter End Date (Reporting period end date)
• 0331 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• FLEX LTD. (company) — Filer
• FLEXTRONICS INTERNATIONAL LTD. (company) — Former company name
• FLEX HOLDINGS PTE LTD (company) — Former company name
• SINGAPORE (location) — Business address

Forward-Looking Statements

• FLEX LTD. will continue to experience fluctuations in its accumulated translation adjustments due to its international operations. (FLEX LTD.) — medium confidence, target: 2024-03-31

FAQ

Industry Context

FLEX LTD. operates in the Printed Circuit Boards industry (SIC 3672).

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business trends and risks.
3. Compare the current period's results with previous periods to identify significant changes and trends.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023. Previous filings would include reports for prior quarters and fiscal years.

Filing Documents

• flex-20231231.htm (10-Q) — 1524KB
• flex-exx1501x12312023.htm (EX-15.01) — 3KB
• flex-exx3101x12312023.htm (EX-31.01) — 11KB
• flex-exx3102x12312023.htm (EX-31.02) — 11KB
• flex-exx3201x12312023.htm (EX-32.01) — 8KB
• 0000866374-24-000012.txt (&nbsp;) — 8176KB
• flex-20231231.xsd (EX-101.SCH) — 49KB
• flex-20231231_cal.xml (EX-101.CAL) — 68KB
• flex-20231231_def.xml (EX-101.DEF) — 233KB
• flex-20231231_lab.xml (EX-101.LAB) — 687KB
• flex-20231231_pre.xml (EX-101.PRE) — 440KB
• flex-20231231_htm.xml (XML) — 1375KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Report of Independent Registered Public Accounting Firm 3 Condensed Consolidated Balance Sheets (unaudited) — December 31, 2023 and March 31, 2023 4 Condensed Consolidated Statements of Operations (unaudited) — Three-Month and Nine-Month Periods Ended December 31, 2023 and December 31, 2022 5 Condensed Consolidated Statements of Comprehensive Income (unaudited) — Three-Month and Nine-Month Periods Ended December 31, 2023 and December 31, 2022 6 Condensed Consolidated Statements of Redeemable Noncontrolling Interest and Shareholders' Equity (unaudited) — Three-Month and Nine-Month Periods Ended December 31, 2023 and December 31, 2022 7 Condensed Consolidated Statements of Cash Flows (unaudited) — Nine-Month Periods Ended December 31, 2023 and December 31, 2022 9 Notes to Condensed Consolidated Financial Statements (unaudited) 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 39 Item 3. Defaults Upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41

Signatures

Signatures 42 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of Flex Ltd., Singapore Results of Review of Interim Financial Information We have reviewed the accompanying condensed consolidated balance sheet of Flex Ltd. and its subsidiaries (the "Company") as of December 31, 2023, the related condensed consolidated statements of operations, comprehensive income, redeemable noncontrolling interest and shareholders' equity for the three-month and nine-month periods ended December 31, 2023 and December 31, 2022, and of cash flows for the nine-month periods ended December 31, 2023 and December 31, 2022, and the related notes (collectively referred to as the "interim financial information"). Based on our reviews, we are not aware of any material modifications that should be made to the accompanying interim financial information for it to be in conformity with accounting principles generally accepted in the United States of America. We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of March 31, 2023 and the related consolidated statements of operations, comprehensive income, redeemable noncontrolling interest and shareholders' equity, and cash flows for the year then ended (not presented herein); and in our report dated May 19, 2023, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheet as of March 31, 2023 is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived. Basis for Review Results This interim financial information is the responsibility of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respec

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