PLXS - Plexus shares gain after FQ1 profit beat upside Q2 forecast

Plexus (PLXS) shares are up 3.3% after the bell on fiscal Q1 results that beat on EPS and came roughly in-line on revenue with $830.36M (-3% Y/Y), which was $1.8M below consensus.Operating margin was 5.6%, topping the company's 4.9-5.3% guidance.Plexus won 35 manufacturing programs during the quarter representing $223M in annualized revenue when fully ramped.For FQ2, the company expects revenue of $860-900M (consensus: $834.58M) and EPS of $1.17-1.32, above the $1.01 consensus. Operating margin is expected between 5% and 5.5%."We anticipate a robust fiscal second quarter due to expected increases in medical equipment demand, recent strengthening in our Industrial Sector and sustained operational excellence," says Plexus CEO Todd Kelsey.Press release.

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Plexus shares gain after FQ1 profit beat, upside Q2 forecast