Oct 28, 7:10 AM ET
Flex reported second-quarter fiscal 2027 net sales of $8.5 billion, up 25% from the prior year, and record adjusted EPS of $1.18. The company raised its full-year fiscal 2027 adjusted EPS guidance to $4.84 to $5.16 from $4.42 to $4.74, while its planned spin-off of the Cloud and Power Infrastructure segment continues. GAAP EPS was $0.70, and the filing shows $110 million in quarterly legal and other charges, mostly tied to the spin-off.
- Q2 net sales of $8.5 billion, up 25%; GAAP EPS of $0.70 versus $0.52 a year earlier
- Record adjusted EPS of $1.18 versus $0.79 a year earlier
- Updated fiscal 2027 adjusted EPS guidance of $4.84 to $5.16, up from $4.42 to $4.74; net sales guidance of $34.9 billion to $35.9 billion
- Third-quarter adjusted EPS guidance of $1.19 to $1.25
Read the filing on SEC.gov ↗
Oct 14, 8:13 AM ET
Flex completed its $4.4 billion cash acquisition of EPC Power on October 14, 2026, and is now part of its Cloud and Power Infrastructure business. The purchase was funded with a $3.3 billion Credit Facility, a $1.1 billion Bridge Credit Facility and cash on hand, both facilities maturing October 13, 2027. Repayment depends in part on the pending $2.0 billion Axiom preferred investment and the planned first-quarter 2027 spin-off of that business.
- Purchase price was $4.4 billion in cash, subject to customary adjustments, with a locked box date of June 30, 2026.
- The Company borrowed $3.3 billion under its Credit Facility and $1.1 billion under its Bridge Credit Facility on October 14, 2026.
- Both facilities mature on October 13, 2027, and the Credit Facility must be prepaid when Axiom funds a term loan tied to the spin-off.
- Axiom's $2.0 billion Series A Convertible Preferred Stock investment has not closed and is subject to regulatory conditions; Axiom expects to use the proceeds to repay Transaction borrowings.
Read the filing on SEC.gov ↗
Oct 5, 8:07 AM ET
On October 2, 2026, Flex and its subsidiary Axiom signed an agreement with General Catalyst and other investors to sell 200,000 shares of Axiom Series A Convertible Preferred Stock for $2.0 billion. The proceeds are tied to Flex's pending $EPC Power acquisition and the planned first-quarter 2027 spin-off of Axiom, and Flex guarantees Axiom's obligation to redeem the shares if the spin-off is not completed by December 31, 2027.
- 200,000 shares at $10,000 per share, $2.0 billion aggregate, agreement dated October 2, 2026
- If the spin-off is not completed by December 31, 2027, redemption price is 115% of purchase price in cash or 125% in Flex ordinary shares, less cash dividends paid
- Unpaid redemption amounts bear 12% annual interest; Flex ordinary shares used for payment may carry registration rights
- Closing is subject to HSR antitrust waiting period expiration and other regulatory approvals
Read the filing on SEC.gov ↗
Oct 2, 4:10 PM ET
Flex Ltd. entered into a Credit Agreement dated September 29, 2026, providing a $3.3 billion senior term loan facility, with Citibank, N.A. as administrative agent. The facility was undrawn at closing and is intended in part to help fund the cash consideration for the acquisition of EPC Power Corp. and related assets, alongside cash on hand and other financing. Its availability reduces the company's existing $4.4 billion bridge facility dollar-for-dollar, and the filing contains covenants requiring a Debt/EBITDA ratio of no more than 4.50 to 1.00 and an Interest Coverage Ratio of at least 3.00 to 1.00.
- Credit facility committed amount is $3.3 billion; it was not drawn on the September 29, 2026 closing date
- Loans bear floating interest at Term SOFR or Base Rate plus an applicable margin tied to senior unsecured long-term debt ratings
- Covenants require Debt/EBITDA of no more than 4.50 to 1.00 and Interest Coverage Ratio of at least 3.00 to 1.00
- Effectiveness automatically and permanently reduced the commitments under the existing $4.4 billion 364-day bridge facility by the same amount
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.