FLEX's Q4 Earnings Surpass Estimates, Revenues Decline Y/Y [Yahoo! Finance]
Nextracker Inc. (NXT)
Company Research
Source: Yahoo! Finance
Flex Ltd FLEX reported fourth-quarter fiscal 2024 adjusted earnings of 57 cents per share, beating the Zacks Consensus Estimate by 3.6%. The bottom line grew 29.5% year over year. Revenues (excluding Nextracker) decreased 11.7% year over year to $6.2 billion. However, it beat the consensus mark by 1.1%. Weakness across the Agility and Reliability Solutions segments led to the top-line contraction. Net sales in fiscal 2024 totaled $26.4 billion (excluding Nextracker), down 7% year over year. Post the spin-off of Nextracker in the fourth-quarter fiscal 2024, its historical financials are now reported under discontinued operations. Following the announcement, shares were down 8.1% and closed session at $26.34 on May 1. In the past year, the stock has gained 30.9% compared with the sub-industry's rise of 37.7%. Flex Ltd. Price, Consensus and EPS Surprise Flex Ltd. price-consensus-eps-surprise-chart | Flex Ltd. Quote Segment Details The Flex Reliability Solutions Group inclu
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NXT
News
- Nextracker Inc. (NASDAQ: NXT) had its "buy" rating re-affirmed by analysts at Truist Financial Co.. They now have a $70.00 price target on the stock.MarketBeat
- Nextracker Inc. (NASDAQ: NXT) had its "buy" rating re-affirmed by analysts at Roth Mkm. They now have a $70.00 price target on the stock.MarketBeat
- Nextracker Inc. (NASDAQ: NXT) had its price target lowered by analysts at Wells Fargo & Company from $68.00 to $64.00. They now have an "overweight" rating on the stock.MarketBeat
- Nextracker Inc. (NASDAQ: NXT) had its price target lowered by analysts at BMO Capital Markets from $62.00 to $56.00. They now have a "market perform" rating on the stock.MarketBeat
- Nextracker Inc. (NASDAQ: NXT) was upgraded by analysts at Fox Advisors from an "equal weight" rating to an "overweight" rating. They now have a $60.00 price target on the stock.MarketBeat
NXT
Earnings
- 5/14/24 - Beat
NXT
Sec Filings
- 5/14/24 - Form 8-K
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- NXT's page on the SEC website