Plexus Corp. (NASDAQ: PLXS) reported fiscal second‑quarter 2026 results on April 29, 2026, with revenue of $1.164 billion, up 19% year‑over‑year, and non‑GAAP earnings per share of $2.05, beating consensus estimates of $1.88–$1.92. The company posted a non‑GAAP operating margin of 6.0%, at the top end of its guidance, and free cash flow of $16 million.
Revenue growth was driven by a mix of high‑margin aerospace and defense contracts, healthcare and life‑sciences sales, and industrial business. Segment revenue totaled $212 million from Aerospace/Defense, $473 million from Healthcare/Life Sciences, and $479 million from Industrial, reflecting a 19% overall increase and a shift toward higher‑margin opportunities.
Management highlighted record manufacturing wins, noting that the company generated a record $355 million in new manufacturing program wins, which translates to annualized revenue. The company also reported a 64‑day cash cycle, a five‑day improvement from the prior quarter, and a $16 million free cash flow, underscoring efficient working‑capital management.
Plexus raised its fiscal 2026 revenue guidance to $1.200 billion–$1.250 billion for the third quarter and projected non‑GAAP EPS of $2.02–$2.18. The company also revised its full‑year revenue growth target to "mid‑teens or greater," up from the previous 9–12% range, reflecting confidence in continued program ramps and market demand.
CEO Todd Kelsey said, "Plexus' momentum is accelerating broadly. We now expect to deliver mid‑teens or greater fiscal 2026 revenue growth from the contribution of numerous program ramps, ongoing market share gains and improving end‑market demand." CFO Patrick Jermain announced his departure after 12 years, with David Abuhl named as his successor, signaling a leadership transition as the company scales its operations.
The results demonstrate Plexus’s ability to generate high‑margin revenue, maintain strong cash flow, and accelerate growth through new program wins, positioning the company for continued expansion in its core aerospace, defense, and healthcare markets.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.