Flex Ltd. (NASDAQ:FLEX) Q3 2024 Earnings Conference Call January 31, 2024 4:30 PM ET

Company Participants

Revathi Advaithi - CEO

Paul Lundstrom - CFO

David Rubin - VP, IR

Conference Call Participants

Mark Delaney - Goldman Sachs

Matt Sheerin - Stifel

Ruplu Bhattacharya - Bank of America

Steven Fox - Fox Advisors

George Wang - Barclays

Operator

Good afternoon, and thank you for standing by. Welcome to Flex's Third Quarter Fiscal 2024 Earnings Conference Call. Presently all participants are in a 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, Diego. Good afternoon, and welcome to Flex's third quarter of 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 a 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.

Please note, unless otherwise stated, our 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 on the Investor Relations website.

As previously announced on January 2nd, 2024, Flex completed the spin-off of all of its remaining interest in Nextracker to Flex shareholders. As a result of the completion of the spin-off, Nextracker became a fully independent public company. Flex no longer directly or indirectly holds any shares of Nextracker common stock and Flex will no longer consolidate Nextracker into its financial results. Please note, our guidance for fourth quarter of fiscal 2024 excludes any economic interest in Nextracker, and for fiscal year 2024, full-year guidance includes Flex economic interest in Nextracker for Q1 through Q3. However, it also excludes it from Q4 fiscal 2024.