Every material Form 8-K Flex has filed with the SEC since July 18, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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
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.
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
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
Flex Ltd. appointed George R. Oliver and Mark Eubanks to its board, effective September 24, 2026, and said Amy B. Schwetz will join as Chief Financial Officer of its RMS and ITS segments on October 5, 2026, and is expected to become Flex CFO after the spin-off of its cloud and power infrastructure business. The filing says the spin-off is expected to be completed in the first quarter of calendar 2027, and the board changes are tied to that separation.
George R. Oliver and Mark Eubanks join the Flex board effective September 24, 2026, both as independent directors.
Amy B. Schwetz joins as CFO of the RMS and ITS segments on October 5, 2026, and is expected to serve as Flex CFO after the spin-off.
The spin-off of the cloud and power infrastructure business into Axiom Solutions International, Inc. is expected to be completed in the first quarter of calendar 2027.
Non-management directors receive $90,000 annual cash compensation plus an annual restricted stock unit award with a fair market value of $235,000.
Flex agreed on September 3, 2026, to acquire all equity of EPC Power Corp. from Charge Parent, LLC for $4.4 billion in cash, subject to customary adjustments. EPC Power would join Flex's Cloud and Power Infrastructure business, which Flex plans to spin off as an independent public company in the first quarter of 2027, and the deal is expected to close in the fourth quarter of 2026. Flex has also obtained a $4.4 billion bridge loan commitment and intends to replace it with a mix of debt and equity, which means future financing could affect shareholders.
Purchase price is $4.4 billion in cash, payable at closing, with a locked box date of June 30, 2026.
Expected closing in the fourth quarter of 2026, subject to Hart-Scott-Rodino antitrust review and other customary conditions.
Outside date is December 31, 2026, with two automatic three-month extensions under certain circumstances.
Financing: a $4.4 billion 364-day senior unsecured bridge facility commitment from Citigroup Global Markets Inc. and Bank of America, N.A.; Flex intends to replace it with debt and equity.
Flex reported first-quarter fiscal 2027 net sales of $7.9 billion, up 21% from a year earlier, with GAAP diluted EPS of $0.76 versus $0.50 and adjusted EPS of $1.00 versus $0.72. The company raised its full-year fiscal 2027 guidance, with adjusted EPS now expected at $4.42 to $4.74 compared with the prior $4.21 to $4.51, while free cash flow fell to $41 million from $268 million.
Q1 net sales were $7.9 billion, up 21%; GAAP net income was $285 million and adjusted net income was $374 million.
Full-year fiscal 2027 net sales guidance rose to $33.7 billion to $35.2 billion from $32.3 billion to $33.8 billion.
Full-year adjusted EPS guidance rose to $4.42 to $4.74 from $4.21 to $4.51; the guidance excludes the planned spin-off of the Cloud and Power Infrastructure segment.
Q1 free cash flow was $41 million, down from $268 million a year earlier, and included $24 million of separation costs tied to the spin-off.
On June 11, 2026, Flex's board approved the Annual Incentive Bonus Plan for fiscal 2027, which sets cash bonus opportunities for executive officers tied to company operating profit, free cash flow and revenue targets. The filing sets target bonuses of 165% of base salary for the CEO and 115% for the CFO, and the board retains authority to adjust payouts.
Plan approved by the board on June 11, 2026, for fiscal year 2027
CEO target bonus set at 165% of base salary; CFO target at 115%; other named executive officers 100% to 110%
Payouts tied to operating profit, revenue and free cash flow, with a maximum of 200% of target
Board or Compensation and People Committee can adjust payouts and exclude unusual items
Flex Ltd. entered into a $1.45 billion senior term loan credit facility with Citibank, N.A. as administrative agent, dated May 29, 2026, and the facility was fully funded on that date. Proceeds will refinance the Existing 364-Day Facility, which had partly funded the acquisition of Electrical Power Products, Inc., and the new loan matures on November 29, 2027.
Credit facility totals $1.45 billion and matures November 29, 2027
Interest is floating, based on Term SOFR or Base Rate plus a margin tied to the company's senior unsecured debt ratings
Covenants require Debt/EBITDA of no more than 4.00 to 1.00 and Interest Coverage of at least 3.00 to 1.00 each fiscal quarter
Proceeds repay the Existing 364-Day Facility, which was terminated on the closing date
Flex reported fourth-quarter fiscal 2026 net sales of $7.5 billion, up 17% from a year earlier, with GAAP diluted EPS of $0.67 versus $0.57 and adjusted EPS of $0.93 versus $0.73. The company also announced its intent to spin off its Cloud and Power Infrastructure business into a new independent public company and guided fiscal 2027 adjusted EPS to $4.21 to $4.51, a figure that excludes the planned spin-off.
Q4 net sales $7.5 billion, up 17%; GAAP EPS $0.67 vs $0.57; adjusted EPS $0.93 vs $0.73
Full-year fiscal 2026 net sales $27.9 billion, up 8%; GAAP EPS $2.33 vs $2.11; adjusted EPS $3.30 vs $2.65
Fiscal 2027 guidance: net sales $32.3 billion to $33.8 billion; adjusted EPS $4.21 to $4.51
Intent to spin off Cloud and Power Infrastructure segment announced May 5, 2026; conference call May 6, 2026 at 8:30 AM ET
On April 30, 2026, Flex entered into a $1.45 billion senior delayed draw term loan credit facility with Citibank, N.A. as administrative agent. Flex said it will use the proceeds for general corporate purposes, including financing its acquisition of Electrical Power Products, Inc. (EP²), which it announced on May 4, 2026 had been completed. The facility adds borrowing capacity and debt covenants that shareholders should weigh against the company's leverage.
Credit facility totals $1.45 billion and matures 364 days after the first funding date of the term loans
Loans bear interest at Term SOFR or Base Rate plus a margin tied to Flex's senior unsecured debt ratings
Covenants require a Debt/EBITDA ratio of no more than 4.00 to 1.00 and an Interest Coverage Ratio of at least 3.00 to 1.00
EP² acquisition completion announced May 4, 2026; obligations are not guaranteed by any subsidiary at this time
Flex reported third-quarter fiscal 2026 results for the period ended December 31, 2025, with net sales of $7.1 billion, up 8% from a year earlier. GAAP earnings per share fell to $0.64 from $0.67, while adjusted EPS rose to $0.87 from $0.77, and the company raised its full-year net sales and adjusted EPS guidance.
Q3 net sales were $7.1 billion, up 8%; GAAP net income was $239 million versus $263 million a year earlier.
Q3 GAAP EPS was $0.64 versus $0.67; adjusted EPS was $0.87 versus $0.77.
Fiscal 2026 net sales guidance was raised to $27.2 billion to $27.5 billion from $26.7 billion to $27.3 billion.
Fiscal 2026 adjusted EPS guidance was raised to $3.21 to $3.27 from $3.09 to $3.17.
Flex Ltd. completed the sale of $150 million of additional 5.250% notes due 2032 and $600 million of 5.375% notes due 2035, totaling $750 million. The 2032 notes will form a single series with $500 million of notes issued in August 2024, and the notes are senior unsecured obligations. The filing describes new borrowing terms but does not report how the proceeds will be used.
Additional 2032 notes: $150 million at 5.250%, maturing January 15, 2032, consolidated with $500 million issued August 21, 2024
2035 notes: $600 million at 5.375%, maturing November 13, 2035
Notes were sold under a shelf registration on Form S-3 filed August 15, 2024, with a prospectus supplement filed November 12, 2025
Underwriting agreement dated November 10, 2025 with BofA Securities, Citigroup Global Markets and PNC Capital Markets as representatives
Flex reported second-quarter fiscal 2026 results for the quarter ended September 26, 2025, with net sales up 4% to $6.8 billion and record adjusted EPS of $0.79. GAAP EPS fell to $0.52 from $0.54 a year earlier, including $41 million of costs tied to a missile strike at its Ukraine facility. The company raised its full-year fiscal 2026 net sales, adjusted operating margin and adjusted EPS guidance, citing data center demand.
Q2 net sales were $6.8 billion, up 4%, and GAAP net income was $199 million versus $214 million a year earlier.
GAAP diluted EPS was $0.52 versus $0.54; adjusted EPS was $0.79 versus $0.64, a record for the company.
Fiscal 2026 guidance was raised to net sales of $26.7 billion to $27.3 billion and adjusted EPS of $3.09 to $3.17.
Third-quarter guidance calls for net sales of $6.65 billion to $6.95 billion and adjusted EPS of $0.74 to $0.80.
Flex reported first-quarter fiscal 2026 results for the period ended June 27, 2025, with net sales of $6.6 billion and GAAP net income of $192 million, up from $139 million a year earlier. The company also issued updated fiscal 2026 guidance, which it described as improved, though the filing does not state the prior guidance figures.
Net sales of $6.6 billion, compared with $6.3 billion in the prior-year quarter
GAAP diluted EPS of $0.50 versus $0.34; adjusted EPS of $0.72 versus $0.51
Second-quarter revenue guidance of $6.5 billion to $6.8 billion; adjusted EPS guidance of $0.70 to $0.78
Fiscal 2026 revenue guidance updated to $25.9 billion to $27.1 billion; adjusted EPS guidance of $2.86 to $3.06
Flex Ltd. entered a new $2.75 billion unsecured revolving credit agreement with Bank of America, N.A. as administrative agent, dated July 15, 2025, maturing July 15, 2030. The new facility replaced the company's existing $2.5 billion 2022 credit facility, which was otherwise due to mature July 19, 2027, and that earlier agreement was terminated. The filing describes the refinancing terms but does not report any earnings, guidance, or changes in operations.
New $2.75 billion revolving credit facility matures July 15, 2030, with a $400 million swing line sublimit and a $200 million letter of credit sublimit.
Replaces the $2.5 billion 2022 Credit Facility, which was otherwise due to mature July 19, 2027.
Company may add up to $500 million in incremental term loans or revolving commitments, subject to lender commitments and conditions.
Interest rates and fees vary with the company's credit ratings; the facility is unsecured and not guaranteed by any subsidiary.
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