Flex Ltd. Ordinary Shares
FLEX · Nasdaq
Next quarter
Reports Nov 4, 2026.
Consensus is $0.97 EPS for Sep 2026 across 4 estimates, ranging $0.95 to $1.00.
FLEX Jun 2026
- 0.00%
- +8.63%
- $0.86
- $0.86
- —
- $7.93B
Reported results
- $7.93B
- 9.42%
- $392.00M
- 4.94%
- $285.00M
- $0.76
Highlights
- Fiscal Q1 FY2027 revenue was $7.928 billion, compared with $6.575 billion in the year-earlier quarter; net income was $285 million versus $192 million.
- ITS revenue was $3.056 billion, up from $2.558 billion in the year-earlier quarter, while RMS revenue was $2.670 billion versus $2.391 billion.
- CPI revenue was $2.202 billion, compared with $1.626 billion in the year-earlier quarter, making it the fastest-growing reported segment by the disclosed revenue figures.
- Diluted earnings per share was $0.76, compared with $0.50 in the year-earlier quarter; basic earnings per share was $0.78 versus $0.51.
- Flex announced plans to separate CPI into an independently traded SpinCo, with completion expected in the first quarter of calendar 2027, subject to board, shareholder, court and SEC approvals.
Analysis
No consensus figures are on file, so the quarter cannot be judged against an external earnings expectation. Revenue reached $7.928 billion, up from $6.575 billion in the year-earlier quarter and broadly above the $7.06 billion reported for Q3 FY2026. Net income increased to $285 million from $192 million, while diluted EPS rose to $0.76 from $0.50. All three segments contributed to the year-over-year revenue increase: ITS generated $3.056 billion versus $2.558 billion, RMS produced $2.670 billion versus $2.391 billion, and CPI delivered $2.202 billion versus $1.626 billion. CPI’s increase was particularly significant and included $672 million of over-time revenue compared with $61 million previously. The filing does not provide operating margins, gross margins or an explanation of margin movement, limiting assessment of profitability quality beyond the net-income improvement.
Guidance
No quarterly, annual revenue, earnings, margin or capital-expenditure guidance was provided in the supplied material. Management’s forward-looking strategic milestone is the planned separation of CPI into SpinCo, expected in the first quarter of calendar 2027. That timetable is conditional on approval by Flex’s Board of Directors and shareholders, approval by the High Court of the Republic of Singapore, and the SEC declaring SpinCo’s Form 10 registration statement effective. The filing explicitly states that the transaction may not occur and that its terms or timing are not assured.
What drove it
- ITS revenue — ITS generated $3.056 billion of revenue, compared with $2.558 billion in the year-earlier quarter.
- RMS revenue — RMS revenue was $2.670 billion, versus $2.391 billion in the year-earlier quarter.
- CPI revenue — CPI revenue increased to $2.202 billion from $1.626 billion in the year-earlier quarter.
- Net income — Net income was $285 million, compared with $192 million in the year-earlier quarter.
- CPI separation — Flex expects the CPI spin-off to be completed in the first quarter of calendar 2027, subject to multiple regulatory and shareholder approvals.
Watch items
- Revenue is concentrated in CPI, with one significant customer accounting for 12% of net sales and the majority of that revenue included in CPI.
- The planned CPI separation is not assured and depends on board, shareholder, Singapore court and SEC approvals.
- Debt increased to $5.219 billion from $3.751 billion at March 31, 2026, including a $1.450 billion senior term loan used to finance an acquisition.
- The filing cites ongoing trade conflicts, tariffs and geopolitical conflicts as sources of economic disruption and uncertainty that could make estimates materially inaccurate.
