NEENAH, WI – Plexus reported $1.02 billion in revenue for the third quarter of its fiscal year, marking a 4% increase from the $981 million in revenue for the same quarter in 2022.

The company also won 30 manufacturing programs during the quarter, which represents a record $321 million in annualized revenue when fully ramped into production, and delivered trailing four-quarter manufacturing wins of $968 million in annualized revenue when fully ramped into production.

For the fourth quarter, the company projects revenue of $1 billion to $1.04 billion.

"Plexus delivered a solid fiscal third quarter with revenue of $1.02 billion, non-GAAP operating margin of 5.0% and non-GAAP EPS of $1.32," said CEO Todd Kelsey. "Our team’s continued ability to mitigate supply chain challenges, along with improvements in manufacturing efficiency and better than anticipated performance from our engineering team, contributed to non-GAAP operating margin meeting the high end of our guidance range and non-GAAP EPS exceeding our guidance range. The fiscal third quarter represented the fifth consecutive quarter with operating margin exceeding 5%.

"We are guiding fiscal fourth quarter revenue of $1.00 billion to $1.04 billion, GAAP operating margin of 4.7% to 5.2% and GAAP EPS of $1.18 to $1.36. Increasingly robust commercial aerospace demand and continued new program ramps are being offset by incrementally weaker demand for semiconductor capital equipment, a modest softening in some industrial markets and continued supply chain challenges."

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