Flex Ltd. (FLEX) reported earnings for its third quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $230 million, or $0.50 per share. This compares with $227 million, or $0.48 per share, in last year's third quarter.
Excluding items, Flex Ltd. reported adjusted earnings of $285 million or $0.62 per share for the period.
Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 17.2% to $7.76 billion from $6.62 billion last year.
Flex Ltd. earnings at a glance (GAAP) :
-Earnings (Q3): $230 Mln. vs. $227 Mln. last year.
-EPS (Q3): $0.50 vs. $0.48 last year.
-Analyst Estimate: $0.55
-Revenue (Q3): $7.76 Bln vs. $6.62 Bln last year.
-Guidance:
Next quarter EPS guidance: $0.48 - $0.54
Next quarter revenue guidance: $7.0 - $7.4 Bln
Full year EPS guidance: $2.27 - $2.33
Full year revenue guidance: $29.9 - $30.3 Bln
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