Q1 2026 Flex Ltd Earnings Call Transcript
Key Points
- Flex Ltd (FLEX) reported a strong first quarter with revenues of $6.6 billion, up 4% year-over-year.
- The company achieved a record Q1 adjusted EPS of $0.72, reflecting a more than 40% increase.
- Flex Ltd (FLEX) is experiencing significant growth in its data center business, expecting a 35% year-over-year increase in revenue.
- The company's global operational scale and AI-enabled systems provide a competitive advantage across various end markets.
- Flex Ltd (FLEX) has successfully shifted its portfolio mix towards high-growth areas like data centers and power, enhancing its strategic positioning.
- Revenue in the Reliability Solutions segment was down 2% year-over-year, impacted by macro-related pressures in automotive and renewables.
- Despite strong Q1 results, the full-year margin outlook remains conservative, with no significant improvement expected.
- The company faces ongoing softness in traditional telecom and consumer-facing end markets within its Agility Solutions segment.
- Flex Ltd (FLEX) is dealing with tariff impacts, which are expected to be pass-through costs but could affect margin performance.
- Interest and other expenses are anticipated to increase due to variable interest rates and currency exposure costs, impacting EPS guidance.
Thank you for standing by. Welcome to Flex's first quarter fiscal 2026 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded.
I will now turn the call over to Ms. Michelle Simmons. You may begin.
Thank you. Good morning and thank you for joining us today for Flex's first quarter fiscal 2026 earnings conference call. With me today is our Chief Executive Officer, Revathi Advaithi; and Chief Financial Officer, Kevin Krumm, will give brief remarks followed by Q&A.
Slides for today's call as well as a copy of the earnings press release are available on the Investor Relations section at flex.com. This call is being recorded and will be available for replay on our corporate website.
Today's call contains forward-looking statements, which are based on our current expectations and assumptions. These statements involve risks and uncertainties that could cause actual results to differ materially. For a full discussion of
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