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Earnings analysis · 10-Q

PLXS earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

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…

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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.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $90 Operating expenses $5 Left as operating profit $5

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$2.05
Segment
AMER
Segment
APAC
Segment
EMEA

What stood out

  • 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.

What to watch

  • 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.

Management's outlook

Management anticipates continued growth driven by operational efficiency and market demand.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.