PLXS Buyback

Plexus Corp. Buyback

OLI recorded this information on 1/16/2024

Company:

Plexus Corp.

Buyback:

PLXS buyback

$Amount Authorized:

$50,000,000

Buyback Details:

Plexus Corp. (NASDAQ: PLXS) announced today that it will not meet its fiscal first quarter revenue guidance of $990 million to $1.03 billion, GAAP operating margin of 4.8% to 5.3% and GAAP EPS of $1.15 to $1.33, as issued October 25, 2023. As the fiscal first quarter progressed, the company experienced continued market-driven inventory corrections and incrementally weaker demand from the Healthcare/Lifesciences and Industrial market sectors. Plexus now expects to announce fiscal first quarter revenue of $980 to $985 million, GAAP operating margin of approximately 4.6% and GAAP diluted EPS of $1.02 to $1.06. Todd Kelsey, Chief Executive Officer, commented, "I remain confident in my expectations that, over the long-term, Plexus' strategy will continue to deliver industry-leading revenue growth and superior returns for our shareholders. In the near term, Plexus is focused on continuing to deliver customer service excellence, tightly managing costs and generating cash. In support of our commitment to return any excess cash to shareholders, I am pleased to announce that our Board of Directors approved a new $50 million share repurchase program. We believe repurchasing our common stock at current market prices is an attractive use of our capital and creates an additional opportunity to create long-term shareholder value."

Plexus and its subsidiaries are engaged in the Electronic Manufacturing Services industry. Co. is focused on providing Design and Development, Supply Chain Solutions, New Product Introduction, Manufacturing and Aftermarket Services throughout the product lifecycle. Co. delivers customer service solutions to global companies in the Industrial, Healthcare/Life Sciences and Aerospace/Defense market sectors by providing solutions throughout the product's lifecycle. Co. provides these solutions to customers in the Americas, Asia-Pacific and Europe, Middle East and Africa regions.

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PLXS — Key Stats (updated 6 hours, 38 minutes ago)

Company Name:	Plexus Corp.
Stock buyback:	PLXS buyback
Website:	www.plexus.com
Sector:	Electronic Equipment & Products
Number of ETFs Holding PLXS:	54
Total Market Value Held by ETFs:	$691.92M
Total Market Capitalization:	$2.64B
% of Market Cap. Held by ETFs:	26.19%

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Plexus Corp. Buyback

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