Start Time: 16:30 January 1, 0000 5:14 PM ET

Flex Ltd. (NASDAQ:FLEX)

Q2 2024 Earnings Conference Call

October 25, 2023, 16:30 PM ET

Company Participants

Revathi Advaithi - CEO

Paul Lundstrom - CFO

David Rubin - VP, IR

Conference Call Participants

Matt Sheerin - Stifel

Steven Fox - Fox Advisors

Ruplu Bhattacharya - Bank of America

Samik Chatterjee - JPMorgan

George Wang - Barclays

Mark Delaney - Goldman Sachs

Operator

Good afternoon and thank you for standing by. Welcome to Flex’s Second Quarter Fiscal 2024 Earnings Conference Call. Presently, all participants are in listen-only mode. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]. As a reminder, this call is being recorded.

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

David Rubin

Thank you, John. Good afternoon, and welcome to Flex’s second 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 Web site.

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 the Risk Factors section in our recent filings with the SEC. Note this information is subject to change, and we undertake no obligation to update these forward-looking statements.

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 the Investor Relations Web site.

Earlier today, we were pleased to announce our plan to spin-off all of Flex’s remaining interest in Nextracker to Flex shareholders. As previously disclosed, Flex retained the option to effect the spin-off pursuant to a merger agreement entered into by Flex and Nextracker in connection with Nextracker’s initial public offering. We believe that the spin-off is the most advantageous form separation for Flex, Nextracker and our respective shareholders.