Plexus Corp. Files 10-Q for Period Ending March 30, 2024

Ticker: PLXS · Form: 10-Q · Filed: May 3, 2024 · CIK: 785786

Sentiment: neutral

Topics: 10-Q, Plexus Corp, Financial Report, SEC Filing, Electronics Manufacturing

TL;DR

<b>Plexus Corp. filed its quarterly report (10-Q) for the period ending March 30, 2024.</b>

AI Summary

PLEXUS CORP (PLXS) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Plexus Corp. filed a 10-Q report for the period ending March 30, 2024. The filing covers the fiscal quarter ending March 30, 2024. The company's fiscal year ends on September 28. Plexus Corp. is incorporated in Wisconsin (WI). The Standard Industrial Classification code for Plexus Corp. is 3672 (Printed Circuit Boards).

Why It Matters

For investors and stakeholders tracking PLEXUS CORP, this filing contains several important signals. This filing provides investors with updated financial performance and operational details for Plexus Corp. during the specified quarter. Understanding the 10-Q is crucial for assessing the company's financial health, recent performance trends, and potential risks.

Risk Assessment

Risk Level: medium — PLEXUS CORP shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but lacks comparative data or forward-looking statements within the provided text.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to form a comprehensive investment thesis.

Key Numbers

Key Players & Entities

FAQ

When did PLEXUS CORP file this 10-Q?

PLEXUS CORP filed this Quarterly Report (10-Q) with the SEC on May 3, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by PLEXUS CORP (PLXS).

Where can I read the original 10-Q filing from PLEXUS CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by PLEXUS CORP.

What are the key takeaways from PLEXUS CORP's 10-Q?

PLEXUS CORP filed this 10-Q on May 3, 2024. Key takeaways: Plexus Corp. filed a 10-Q report for the period ending March 30, 2024.. The filing covers the fiscal quarter ending March 30, 2024.. The company's fiscal year ends on September 28..

Is PLEXUS CORP a risky investment based on this filing?

Based on this 10-Q, PLEXUS CORP presents a moderate-risk profile. The filing is a standard 10-Q, which provides a snapshot of financial health but lacks comparative data or forward-looking statements within the provided text.

What should investors do after reading PLEXUS CORP's 10-Q?

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to form a comprehensive investment thesis. The overall sentiment from this filing is neutral.

How does PLEXUS CORP compare to its industry peers?

Plexus Corp. operates in the Printed Circuit Boards (PCB) manufacturing industry, a key component in electronic devices.

Are there regulatory concerns for PLEXUS CORP?

The filing is a 10-Q, a quarterly report required by the SEC for publicly traded companies to provide updates on their financial condition.

Industry Context

Plexus Corp. operates in the Printed Circuit Boards (PCB) manufacturing industry, a key component in electronic devices.

Regulatory Implications

The filing is a 10-Q, a quarterly report required by the SEC for publicly traded companies to provide updates on their financial condition.

What Investors Should Do

  1. Analyze the detailed financial statements within the 10-Q for revenue, net income, and cash flow.
  2. Review the Management's Discussion and Analysis (MD&A) section for insights into the company's performance and outlook.
  3. Examine any disclosed risk factors to understand potential challenges facing Plexus Corp.

Key Dates

Year-Over-Year Comparison

This is the first 10-Q filing provided for analysis in this session, so no comparison to a previous filing is possible.

Filing Stats: 4,520 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-05-03 08:06:27

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 3 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20 "Safe Harbor" Cautionary Statement Under the Private Securities Litigation Reform Act of 1995 20 Overview 21 Results of Operations 22 Liquidity and Capital Resources 27 Disclosure About Critical Accounting Policies 30 New Accounting Pronouncements 30

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 30

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 31

OTHER INFORMATION

PART II. OTHER INFORMATION 31

Risk Factors

ITEM 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceed

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceed 32

Other Information

ITEM 5. Other Information 32

Exhibits

ITEM 6. Exhibits 33

SIGNATURES

SIGNATURES 34 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PLEXUS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands, except per share data) (Unaudited) Three Months Ended Six Months Ended March 30, 2024 April 1, 2023 March 30, 2024 April 1, 2023 Net sales $ 966,900 $ 1,070,823 $ 1,949,507 $ 2,164,748 Cost of sales 878,837 967,830 1,773,304 1,960,556 Gross profit 88,063 102,993 176,203 204,192 Selling and administrative expenses 47,555 46,051 90,537 89,909 Restructuring and other charges, net 11,038 — 11,038 — Operating income 29,470 56,942 74,628 114,283 Other income (expense): Interest expense ( 8,293 ) ( 8,287 ) ( 15,910 ) ( 15,181 ) Interest income 817 759 1,625 1,693 Miscellaneous, net ( 3,027 ) ( 1,612 ) ( 6,529 ) ( 3,556 ) Income before income taxes 18,967 47,802 53,814 97,239 Income tax expense 2,728 6,958 8,360 14,205 Net income $ 16,239 $ 40,844 $ 45,454 $ 83,034 Earnings per share: Basic $ 0.59 $ 1.48 $ 1.65 $ 3.00 Diluted $ 0.58 $ 1.45 $ 1.62 $ 2.94 Weighted average shares outstanding: Basic 27,542 27,661 27,513 27,650 Diluted 27,929 28,184 27,982 28,273 Comprehensive income: Net income $ 16,239 $ 40,844 $ 45,454 $ 83,034 Other comprehensive (loss) income: Derivative instrument and other fair value adjustments ( 1,609 ) 2,924 6,788 11,363 Foreign currency translation adjustments ( 3,645 ) 3,152 8,844 16,929 Other comprehensive (loss) income ( 5,254 ) 6,076 15,632 28,292 Total comprehensive income $ 10,985 $ 46,920 $ 61,086 $ 111,326 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents PLEXUS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (Unaudited) March 30, 2024 September 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 265,053 $ 256,233 Restricted cash 41 421 Accounts receivable, net of allowances of $ 2,078 and $ 1,914 , respectively 645,523 661,542 Contract

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