Flextronics (FLEX) Tops Q3 EPS by 4c; Issues Solid Outlook

Flextronics (NASDAQ: FLEX) reported Q3 EPS of $0.30, $0.04 better than the analyst estimate of $0.26. Revenue for the quarter came in at $7.03 billion versus the consensus estimate of $6.62 billion.

Flextronics sees Q4 2015 EPS of $0.23-$0.27, versus the consensus of $0.24. Flextronics sees Q4 2015 revenue of $6-6.4 billion, versus the consensus of $6.2 billion.

"The Flextronics team continues to deliver on our core innovation strategies and initiatives, allowing us to achieve our financial targets," said Mike McNamara, chief executive officer at Flextronics. "We reported solid results across our business groups which is evidenced by our 15% year-over-year growth in earnings per share." He added, "We will continue to provide the most innovative end-to-end supply chain solutions going from sketch to scale, increasing our customer's competitive advantage in the marketplace."

"Our commitment to return shareholder value was further demonstrated by repurchasing approximately 8 million shares during the quarter for $84 million," said Chris Collier, chief financial officer at Flextronics. "We continue to operate with discipline and delivered another strong quarter of free cash flow generation of $337 million."

For earnings history and earnings-related data on Flextronics (FLEX) click here.

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