Every material Form 8-K Plexus filed with the SEC in 2024, 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.
Plexus reported fiscal fourth-quarter 2024 revenue of $1.05 billion and GAAP diluted EPS of $1.48, up from $1.44 a year earlier, with record quarterly free cash flow of $194 million. For the full fiscal year, revenue fell to $3.96 billion from $4.21 billion and GAAP diluted EPS fell to $4.01 from $4.95, and first-quarter fiscal 2025 revenue guidance of $960 million to $1.00 billion sits below the fourth-quarter result.
Q4 fiscal 2024 revenue was $1.05 billion and GAAP diluted EPS was $1.48, compared with $1,023.9 million and $1.44 in the year-earlier quarter.
Fiscal 2024 revenue was $3.96 billion versus $4.21 billion, and GAAP diluted EPS was $4.01 versus $4.95.
Fiscal first-quarter 2025 guidance calls for revenue of $960 million to $1.00 billion and GAAP diluted EPS of $1.25 to $1.40.
Fiscal 2024 free cash flow was a record $341 million, and the 2025 share repurchase program authorizes an additional $50.0 million.
Plexus reported fiscal third-quarter 2024 revenue of $961 million, down from $1.02 billion a year earlier, while GAAP diluted EPS rose to $0.91 from $0.56. The company guided fiscal fourth-quarter revenue to $990 million to $1.03 billion and GAAP diluted EPS to $1.14 to $1.29, and said it expects free cash flow of more than $150 million for fiscal 2024.
Q3 revenue was $961 million, versus $1.02 billion in the year-earlier quarter and $967 million in the prior quarter.
Q3 GAAP diluted EPS was $0.91, versus $0.56 a year earlier; non-GAAP diluted EPS was $1.45, versus $1.46.
Q4 guidance: revenue of $990 million to $1.03 billion and GAAP diluted EPS of $1.14 to $1.29.
Free cash flow was $114 million in Q3, and the company repurchased $18.6 million of shares with $19.5 million left on its $50.0 million authorization.
Plexus said its President and Chief Strategy Officer, Steven J. Frisch, will retire at midnight on September 28, 2024, the end of fiscal 2024. The board named CEO Todd P. Kelsey to the additional office of President effective June 4, 2024, and Frisch's retirement agreement sets the terms of his departure, including continued vesting of certain equity awards.
Steven J. Frisch informed the company on May 31, 2024 of his intent to retire; his retirement date is midnight on September 28, 2024.
Todd P. Kelsey, Chief Executive Officer, was elected President effective June 4, 2024.
Frisch's base salary and annual incentive plan participation end on the retirement date; he will receive a fiscal 2024 incentive payout based on actual attainment.
Frisch may continue to vest in outstanding restricted and performance stock units under the existing schedules, subject to the agreement's restrictive covenants.
Plexus reported fiscal second quarter 2024 revenue of $967 million and GAAP diluted EPS of $0.58, down from $1.071 billion and $1.45 in the year-earlier quarter, and the GAAP results include $0.36 per share of restructuring and other charges. The company guided fiscal third quarter revenue to $960 million to $1.00 billion and GAAP diluted EPS to $0.80 to $0.95, and reported free cash flow of $65 million and $17.6 million of share repurchases.
Q2 revenue $967 million vs $1.071 billion in the quarter ended April 1, 2023, and $983 million in the prior quarter
GAAP diluted EPS $0.58 vs $1.45 a year earlier; non-GAAP diluted EPS $0.94 excludes restructuring charges
Q3 guidance: revenue $960 million to $1.00 billion; GAAP diluted EPS $0.80 to $0.95
Free cash flow of $65 million; $17.6 million of shares repurchased, leaving $38.1 million under the $50.0 million authorization
At its February 14, 2024 annual meeting, Plexus shareholders approved a new 2024 Omnibus Incentive Plan, which replaces the 2016 plan, and elected all 10 nominated directors. The board also amended the bylaws, including a director retirement age of 75 and advance notice rules for shareholders proposing director nominees, which must be submitted by October 31, 2024.
Shareholders approved the 2024 Omnibus Incentive Plan, with 23,408,724 votes for and 1,686,682 against.
The 2024 plan replaces the 2016 Omnibus Incentive Plan, which has been terminated; no new awards will be granted under it.
Board amended bylaws to set director retirement age at 75 and align advance notice provisions with universal proxy rules.
Shareholders who intend to solicit proxies for non-company director nominees must notify the Secretary by October 31, 2024.
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.
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
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Plexus filing is on SEC EDGAR ↗. 8-K briefs of other companies →