Flex (FLEX) Q4 Earnings In Line, Revenues Lag Estimates
Zacks Investment Research | May 01, 2019 11:06PM ET
Shares of Flex Ltd. (NASDAQ:FLEX) were up more than 3.5% yesterday, following the company's encouraging fiscal 2019 results, wherein earnings and revenues improved year over year.
Coming to fourth-quarter fiscal 2019 performance, Flex reported adjusted earnings of 27 cents per share, which came in line with the Zacks Consensus Estimate. The figure declined 3.6% from the year-ago quarter.
Revenues declined 2.9% from the year-ago quarter to $6.226 billion, lagging the Zacks Consensus Estimate of $6.481 billion.
Sluggish demand from China, soft demand from networking customers, and weakness in semiconductor capital equipment and energy verticals, impacted financial performance.
This has taken a toll on the company’s stock performance. Shares of Flex have fallen 17.7% in the past year, compared with the Zacks Investment Research
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