Flex Ltd (NASDAQ:FLEX) Q4 2023 Earnings Conference Call May 10, 2023 4:30 PM ET

Company Participants

David Rubin - VP, IR

Revathi Advaithi - CEO & Director

Paul Lundstrom - CFO

Conference Call Participants

Steven Fox - Fox Advisors

Ruplu Bhattacharya - Bank of America Merrill Lynch

Mark Delaney - Goldman Sachs Group

Paul Chung - JPMorgan Chase & Co.

Shannon Cross - Crédit Suisse

Matthew Sheerin - Stifel, Nicolaus & Company

Operator

Good afternoon. Thank you for standing by. Welcome to Flex's Fourth Quarter and Fiscal 2023 Earnings Conference Call. [Operator Instructions].

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

David Rubin

Thank you, Chris. Good afternoon, and welcome to Flex's Fourth Quarter Fiscal 2023 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 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, unless otherwise 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 this presentation as well as in the summary financials posted on the 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. Starting with our fiscal Q4 results on Slide 4. Overall, it was another solid quarter. Our revenue grew 9% year-over-year with growth in our reliability, agility and NEXTracker segments. Adjusted operating margin came in at 4.9%, and we delivered $0.57 of adjusted EPS, which was a new record for fiscal Q4. Looking at the full year results, fiscal '23 was very strong despite the continuing challenges in the macroeconomic landscape. We grew revenue 17% year-over-year with adjusted operating margins for the full year at 4.8%. And we delivered adjusted EPS of $2.36, up -- up 20%. That's the third year in a row EPS has grown at least 20%.