Plexus Q1 revenue falls to $983 million and Q2 guidance comes in below prior outlook
Plexus reported fiscal first quarter 2024 revenue of $983 million and GAAP diluted EPS of $1.04, down from $1.09 billion and $1.49 a year earlier. Its fiscal second quarter guidance of $930 million to $970 million in revenue and $0.48 to $0.63 in GAAP diluted EPS is lower than the October 2023 guidance, and the company expects restructuring charges that weigh on those results, so shareholders face weaker near-term earnings.
Key points
- Q1 fiscal 2024 revenue of $983 million vs. $1,094 million a year earlier; GAAP diluted EPS of $1.04 vs. $1.49
- Q2 guidance: revenue of $930 million to $970 million and GAAP diluted EPS of $0.48 to $0.63, vs. October 25, 2023 guidance of $990 million to $1.03 billion and EPS of $1.15 to $1.33
- Restructuring charges of approximately $10 million ($0.32 per share) expected in Q2, with about $20 million of annualized cost savings targeted by fiscal Q3
- Board approved a new $50.0 million share repurchase program, which starts after the current authorization with $5.7 million remaining is completed
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 24, 2024.
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.