Monday, Flextronics International Ltd. (FLEX) reported second-quarter net income of $19.6 million or $0.02 per share, compared to net income of $38.5 million or $0.05 per share in the year ago quarter.
On an adjusted basis, the company reported net income was $104 million or $0.13 per share. For the year ago quarter the company reported adjusted earnings of $280 million or $0.28 per share.
On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.09 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter were $5.83 billion, compared to net sales of $8.9 billion a year ago. Analysts expected the company to report revenue of $5.77 billion for the quarter.
Looking ahead to the third quarter, the company expects revenue to be in the range of $6.0 billion - $6.4 billion. Earnings for the quarter are expected to be lower than the guidance provided herein by approximately $0.07 per share for estimated restructuring activities, quarterly intangible amortization, stock-based compensation expense and non-cash interest expense. On an adjusted basis, earnings are expected to be in the range of $0.14 - $0.16 per share. Analysts expected the company to earn $0.13 per share on revenue of $6.24 billion for the quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.