PLXS earnings analysis
What we found in PLXS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Plexus Corp. reported a strong Q2 2026 performance with revenue of $1.164 billion and diluted EPS of $1.82, both exceeding analyst expectations. Total revenue increased 18.7% year-over-year, driven by significant growth in all major segments, particularly in the AMER region. However, the company faced challenges with declining cash flows and increased operating expenses.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue and EPS Beat
- Q2 2026 revenue reached $1.164 billion, up 18.7% YoY, exceeding estimates of $1.131 billion. EPS came in at $1.82 versus $1.83 expected.
- Segment Revenue Growth
- AMER segment grew by 34.5%, APAC segment increased 11.1%, and EMEA saw a 12.9% rise year-over-year.
- Rising Net Income
- Net income rose to $49.8 million, a 27.4% increase from $39.1 million in Q2 2025.
- Improved Operating Income
- Operating income increased by 26.6% to $61.8 million, reflecting better margins with a slight margin rise to 5.3%.
- Strong Customer Demand
- Notable increases in new product ramps in existing customer programs drove significant sales growth, particularly in Aerospace and Healthcare sectors.
- Balance Sheet Stability
- Cash and cash equivalents decreased slightly to $303.2 million but remain adequate for short-term operational needs.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decreased Operating Cash Flow
- Operating cash flow dropped to $13.1 million from $90.3 million in the previous year, primarily due to inventory-related cash flow issues.
- Free Cash Flow Decline
- Free cash flow turned negative at $(34.6) million, down from $43.6 million the previous year, indicating cash generation issues.
- Increase in Operating Expenses
- Selling and administrative expenses rose by $8.4 million, impacting profitability despite higher revenue.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.05
- Gross margin
- 10.2%
- Operating margin
- 5.3%
- Segment
- AMER
- Segment
- APAC
- Segment
- EMEA
What they said about what is next.
Management anticipates continued growth driven by operational efficiency and market demand.
The filing reads better than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing PLXS makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever