Flex Ltd. (NASDAQ:FLEX) Q1 2024 Results Conference Call July 26, 2023 4:30 PM ET

Company Participants

David Rubin - VP, IR

Revathi Advaithi - CEO

Paul Lundstrom - CFO

Conference Call Participants

Mark Delaney - Goldman Sachs

Ruplu Bhattacharya - Bank of America

Samik Chatterjee - JP Morgan

Matt Sheerin - Stifel

Steven Fox - Fox Advisors

Shannon Cross - Credit Suisse

Operator

Good afternoon and thank you for standing by. Welcome to Flex’s First Quarter Fiscal 2024 Earnings Conference Call. [Operator Instructions]

I will now turn the call over to Mr. David Rubin. You may begin.

David Rubin

Thank you, Jenny. Good afternoon, and welcome to Flex’s first quarter fiscal 2024 earnings conference call. With me today is our Chief Executive Officer, Revathi Advaithi; and our Chief Financial Officer, Paul Lundstrom. Both will give brief remarks followed by Q&A. Slides for today’s call as well as a copy of the earnings press release and summary financials 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.

As a reminder, 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 our actual results to differ materially. For a full discussion of these risks and uncertainties, please see the cautionary statements in our presentation, press release or in the Risk Factors section in our most recent filings with the SEC. Note this information is subject to change, and we undertake no obligation to update these forward-looking statements.

Lastly, please note, unless otherwise stated, all results provided will be non-GAAP measures and all growth metrics will be on a year-over-year basis. The full non-GAAP to GAAP reconciliations can be found in the appendix slides of today’s presentation as well as in the summary financials posted again on our Investor Relations website.

Now, I’d like to turn the call over to our CEO. Revathi?

Revathi Advaithi

Thank you, David. Good afternoon, and thank you for joining us today.

As we move into our new fiscal year, we continue to make progress in our long-term strategy and deliver consistent results. Starting with our fiscal Q1 results on slide 4. Overall, it was another solid quarter. Revenue came in at $7.3 billion, which is flat with last year’s exceptionally strong Q1. Adjusted operating margin came in at 5.1% and we delivered $0.57 of adjusted EPS.