Austin-Based Flex Posts $8.5 Billion in Quarterly Sales and a Record Adjusted EPS, and Raises Its Full-Year Outlook
Flex, which reports from Austin, said second-quarter net sales rose 25 percent to $8.5 billion with a record adjusted $1.18 per share — and lifted its fiscal 2027 guidance as it advances the spin-off of its Cloud and Power Infrastructure segment.
Flex, the manufacturing and supply-chain company that reports from Austin, on Wednesday posted second-quarter fiscal 2027 results ahead of its own prior outlook: net sales of $8.5 billion for the quarter ended September 25, 2026, up 25 percent from a year earlier, with a record adjusted earnings per share of $1.18.
The quarter's GAAP figures were operating income of $414 million — a 4.9 percent margin — net income of $263 million and earnings of $0.70 per share. On the adjusted basis the company emphasizes, operating income was $607 million (a 7.1 percent margin) and net income $443 million. Operations generated $501 million in cash, and free cash flow was $261 million, according to the company's release.
"We continue to execute from a position of strength while advancing our planned spin-off of our Cloud and Power Infrastructure segment," said Chief Executive Revathi Advaithi. She said the acquisition of EPC Power "further completes our end-to-end Power portfolio and will be immediately accretive in fiscal 2027," and that unveiling the Axiom name for the segment marks another step toward creating two focused companies.
Flex also raised its full-year outlook. For the third quarter it guided net sales to $8.87 billion to $9.17 billion — growth of 28 percent at the midpoint — and adjusted earnings of $1.19 to $1.25 per share. For the full fiscal year, the updated guidance is net sales of $34.9 billion to $35.9 billion and adjusted earnings of $4.84 to $5.16 per share, growth of 52 percent at the midpoint. The company, whose footprint spans 30 countries, says its current work centers on helping customers deploy data centers faster by solving power, heat and scale challenges — the demand wave behind the power segment it is preparing to spin off.
