Flex Ltd. Q1 FY25 10-Q Filing

TL;DR

Flex Ltd. 10-Q filed for Q1 FY25. Financials are in.

AI Summary

Flex Ltd. filed its 10-Q for the period ending June 28, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial data and operational details for this period are presented, including comparative figures from the prior year's first quarter. The company's fiscal year ends on March 31st.

Why It Matters

This filing provides investors with an update on Flex Ltd.'s financial performance and position for the most recent quarter, crucial for understanding the company's ongoing operations and future outlook.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health or operational risks.

Key Numbers

• Q1 — Quarter (First quarter of fiscal year 2025)
• 2024-06-28 — End Date (Reporting period end date)
• 2023-06-30 — Prior Year End Date (Comparative period end date)

Key Players & Entities

• FLEX LTD. (company) — Filer
• 20240628 (date) — Period of Report
• 20240726 (date) — Filing Date
• 0000866374 (company) — Central Index Key
• SINGAPORE (location) — Business Address City

FAQ

Filing Documents

• flex-20240628.htm (10-Q) — 1073KB
• flex-exx1001x6282024.htm (EX-10.01) — 5KB
• flex-exx1002x6282024.htm (EX-10.02) — 6KB
• flex-exx1003x6282024.htm (EX-10.03) — 281KB
• flex-exx1004x6282024.htm (EX-10.04) — 362KB
• flex-exx1005x6282024.htm (EX-10.05) — 49KB
• flex-exx1501x6282024.htm (EX-15.01) — 3KB
• flex-exx3101x6282024.htm (EX-31.01) — 11KB
• flex-exx3102x6282024.htm (EX-31.02) — 11KB
• flex-exx3201x6282024.htm (EX-32.01) — 8KB
• 0000866374-24-000034.txt ( ) — 7633KB
• flex-20240628.xsd (EX-101.SCH) — 46KB
• flex-20240628_cal.xml (EX-101.CAL) — 74KB
• flex-20240628_def.xml (EX-101.DEF) — 196KB
• flex-20240628_lab.xml (EX-101.LAB) — 617KB
• flex-20240628_pre.xml (EX-101.PRE) — 418KB
• flex-20240628_htm.xml (XML) — 958KB

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) — June 28, 2024 and March 31, 2024 4 Condensed Consolidated Statements of Operations (unaudited) — Three-Month Periods Ended June 28, 2024 and June 30, 2023 5 Condensed Consolidated Statements of Comprehensive Income (unaudited) — Three-Month Periods Ended June 28, 2024 and June 30, 2023 6 Condensed Consolidated Statements of Noncontrolling Interest and Shareholders' Equity (unaudited) — Three-Month Periods Ended June 28, 2024 and June 30, 2023 7 Condensed Consolidated Statements of Cash Flows (unaudited) — Three-Month Periods Ended June 28, 2024 and June 30, 2023 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 36

Signatures

Signatures 37 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 June 28, 2024, the related condensed consolidated statements of operations, comprehensive income, noncontrolling interest and shareholders' equity, and cash flows for the three-month periods ended June 28, 2024 and June 30, 2023, 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, 2024 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 17, 2024, 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, 2024 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 respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of t

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View this 10-Q filing on SEC EDGAR