PLXS - Plexus Corp. (PLXS) Q1 2024 Earnings Call Transcript
2024-01-25 11:45:20 ET
Plexus Corp. (PLXS)
Q1 2024 Results Conference Call
January 25, 2024 08:30 AM ET
Company Participants
Shawn Harrison - Vice President, Communications & Investor Relations
Todd Kelsey - Chief Executive Officer
Steve Frisch - President & Chief Strategy Officer
Pat Jermain - Executive Vice President & Chief Financial Officer
Oliver Mihm - Executive Vice President & Chief Operating Officer
Conference Call Participants
David Williams - The Benchmark Company
Melissa Fairbanks - Raymond James
Matt Sheerin - Stifel Nicolaus
Anja Soderstrom - Sidoti & Company
Jim Ricchiuti - Needham & Company
Presentation
Operator
Good morning, and welcome to the Plexus Corp. Conference Call regarding its Fiscal First Quarter 2024 Earnings Announcement. My name is Livia, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. After a brief discussion by management, we will open the conference call for questions. The conference call is scheduled to approximately one hour. Please note that, this conference call is being recorded.
I would now like to turn the call over to Mr. Shawn Harrison, Plexus Vice President of Investor Relations.
Shawn Harrison
Thank you, Livia. Good morning everyone, and thank you for joining us today. Some of the statements made and information provided during our call today will be forward-looking statements, including without limitation, those regarding revenue, gross margin, selling and administrative expense, operating margin, other income and expense, taxes, cash cycle, capital allocation and future business outlook.
Forward-looking statements are not guarantees, since there are inherent difficulties in predicting future results and actual results could differ materially from those expressed or implied in the forward-looking statements. For a list of factors that could cause actual results to differ materially from those discussed, please refer to the company's periodic SEC filings, particularly the risk factors in our Form 10-K filing for the fiscal year ended September 30, 2023, and the safe harbor and fair disclosure statement in our press release.
We encourage participants on the call this morning to access the live webcast and supporting materials at Plexus' website at www.plexus.com, clicking on Investors at the top of that page.
Joining me today are Todd Kelsey, Chief Executive Officer; Steve Frisch, President and Chief Strategy Officer; Pat Jermain, Executive Vice President and Chief Financial Officer; and Oliver Mihm, Executive Vice President and Chief Operating Officer. With today's earnings calls, Todd will provide summary comments before turning the call over to Oliver and Pat for further details.
Let me now turn the call over to Todd Kelsey. Todd?
Todd Kelsey
Thank you, Shawn. Good morning everyone. Please advance to Slide 3. There were many positives during our fiscal first quarter. These included strong quarterly wins across our market sectors, totaling $261 million, including the addition of two new exciting healthcare life sciences logos. Robust expansion of our funnel of qualified manufacturing opportunities, which now exceeds $4 billion. When combined with a total available market exceeding $240 billion, this supports our expectation of continued industry leading revenue growth with a targeted CAGR of 9% to 12%....
Plexus Corp. (PLXS) Q1 2024 Earnings Call Transcript