Flextronics International Ltd. (NASDAQ:FLEX) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Flextronics International Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 53.57% to $0.13 in the quarter versus EPS of $0.28 in the year-earlier quarter.
Revenue: Decreased 15.99% to $5.3 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Flextronics International Ltd. reported adjusted EPS income of $0.13 per share. By that measure, the company missed the mean analyst estimate of $0.13. It beat the average revenue estimate of $5.19 billion.
Quoting Management: “We believe our end-markets have mostly stabilized and we are actively engaged in restructuring our cost base to drive better margins,” said Mike McNamara, CEO of Flextronics. “Simultaneously, we are positioning our company for strong growth layered on top of our base business and powered by our strong bookings in Fiscal 2013.”
Key Stats (on next page)…
Revenue decreased 13.53% from $6.12 billion in the previous quarter. EPS decreased 40.91% from $0.22 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.16 and has not changed. For the current year, the average estimate is a profit of $0.83, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)