Q2 2026 Plexus Corp Earnings Call Transcript
Key Points
- Plexus Corp (PLXS) reported a fiscal second-quarter revenue of $1.164 billion, exceeding guidance and marking a 19% year-over-year increase.
- The company secured 30 new manufacturing programs with a record $355 million in annualized revenue when fully ramped into production.
- Plexus Corp (PLXS) achieved a non-GAAP EPS of $2.05, surpassing guidance expectations.
- The company is experiencing strong growth in aerospace and defense, driven by increasing demand for industry-leading solutions and disruptive technologies.
- Plexus Corp (PLXS) is committed to sustainability and has been recognized as a finalist for the 2026 Manufacturing Leadership Awards in AI Vision and Strategy, and Sustainability in the Circular Economy.
- The company anticipates higher investments in working capital to support accelerating revenue growth, which may impact free cash flow in the short term.
- Supply chain constraints, particularly in semiconductors and raw materials, pose challenges and require proactive management.
- The Malaysia facility was slightly behind break-even in the past quarter due to faster-than-expected revenue ramp-up, necessitating additional investments.
- There is a potential risk of margin pressure due to ongoing investments in capability and operational efficiency initiatives.
- The competitive environment remains challenging, although Plexus Corp (PLXS) has noted a slight uptick in large opportunity wins.
Hello, everyone.
Thank you for joining us, and welcome to the Q2 2026 Plexus earnings conference call.
After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Sean Harrison, IRO. Sean, please go ahead.
Good morning, and thank you for joining us today. Some of the statements made and information provided during our call today will be forward-looking statements, including, without limitation, those regarding revenue, gross margin, selling and administrative expense, operating margin, other income and expense, taxes, cash cycle, capital allocation, and future business outlook.
Forward-looking statements are not guarantees since there are inherent difficulties in predicting future results, and actual results could differ materially from those expressed or implied in the forward-looking statements.
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