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Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results

PLXS
  • Plexus Corp. reported Q4 fiscal 2026 revenue of $1.427 billion, GAAP operating margin of 6.0%, & GAAP diluted EPS of $2.51.
  • Full fiscal 2026 revenue totaled $4.965 billion, with GAAP operating margin of 5.3% & GAAP diluted EPS of $7.41.
  • Q4 fiscal 2026 non-GAAP operating margin was 6.7% & non-GAAP diluted EPS was $2.84, excluding $0.33 in stock-based compensation.
  • Fiscal 2026 non-GAAP operating margin reached 6.2% & non-GAAP diluted EPS was $8.97, excluding $1.56 in stock-based compensation.
  • The company initiated Q1 fiscal 2027 revenue guidance of $1.410 billion to $1.460 billion with GAAP diluted EPS of $2.16 to $2.32.
  • Q1 fiscal 2027 non-GAAP diluted EPS guidance ranges from $2.46 to $2.62, excluding stock-based compensation expense.
  • Plexus won 36 new manufacturing programs representing $290 million in annualized revenue during Q4 fiscal 2026.
  • The company generated $6.4 million in free cash flow for the three months ended October 3, 2026.
  • Plexus completed its 2026 share repurchase program by buying $21.4 million of shares at an average price of $254.32.
  • The Board approved a new $100 million share repurchase program for 2027, available beginning fiscal 2027.
  • Fiscal 2026 return on invested capital (ROIC) was 15.8%, yielding an economic return of 6.8% above the 9.0% weighted average cost of capital.
  • The fiscal 2026 cash cycle was 62 days, & the company aims to maintain cash cycle days in the low to mid-60s for fiscal 2027.
  • Revenue was generated across three market sectors: Industrial (48% of Q4 revenue), Healthcare/Life Sciences (36%), & Aerospace/Defense (16%).
  • The top 10 customers comprised 56% of Q4 fiscal 2026 revenue & 54% of full-year fiscal 2026 revenue.
  • Plexus reduced absolute Scope 1 & 2 emissions by more than 50% across global manufacturing sites compared to the fiscal 2023 baseline.
  • Management introduced a new non-GAAP operating margin goal of 6.5% to 7.0% for future periods, up from the previous 6% target.
  • The company anticipates mid- to upper-teens revenue growth for fiscal 2027, driven by market strength & program ramps.
  • Fiscal 2027 free cash flow is expected to be at least $100 million, supported by profitability & working capital efficiency.
  • The fiscal 2026 order funnel expanded by $1.2 billion year-over-year, reaching a record $4.9 billion in qualified opportunities.