(RTTNews) - Flex Ltd. (FLEX), a manufacturing company, on Wednesday, reported its net income decreased in the fourth quarter compared with the previous year.
For the third quarter, net income decreased to $239 million from $263 million in the previous year.
Earnings per share were $0.64 versus $0.67 last year.
Adjusted net income was $326 million from $304 million in the prior year.
Adjusted earnings per share $0.87 versus $0.77 last year.
On average, 5 analysts had expected the company to report $0.85 per share. Analysts' estimates typically exclude special items.
Operating income increased to $389 million from $334 million in the previous year.
Net sales rose to $7.06 billion from $6.56 billion in the prior year.
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Further on the guidance, the company expected fourth quarter net sales to grow 8% at the midpoint to $6.75 billion to $7.05 billion.
Adjusted operating income for the fourth quarter of fiscal 2026 is expected to be $445 million to $475 million.
Adjusted earnings per share is anticipated to grow 8% at the midpoint at $0.83 to $0.89 for the fourth quarter.
For the full year 2026, the company expected net sales to be in the range of $27.2 billion to $27.5 billion, growth of 6% at the midpoint, previously $26.7 to $27.3 billion.
Adjusted earnings per share is anticipated to grow 22% at the midpoint at $3.21 to $3.27 for the full year 2026, previously $3.09 to $3.17.
In the pre-market trading, Flex is 0.85% higher at $66.55 on the Nasdaq.
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