Flex Ltd.

Company facts

Industry

Printed Circuit Boards

Headquarters

Austin, Texas

Most recent report

8-K, filed Sep 4, 2026

Filings on record

1,001+ filings

On EDGAR

CIK 866374

Fiscal year ends

March

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 4 positive, 14 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Major acquisition, planned spin-off, strong revenue growth, and new financing details all company-specific.
  Notable

  • Announced plan to spin off CPI segment into independent public company by Q1 calendar 2027.
  • Acquired Electrical Power Products for $1.2B cash on May 1, 2026, added to CPI segment.
  • Incurred $53M in costs related to the planned CPI spin-off in Q1 FY2027.
  Negative

  • One customer accounted for 12% of net sales in Q1 FY2027, mostly in CPI segment.

• Management's Discussion (Item 2)

  Dense MD&A with 21% revenue growth, segment results, spin-off, tariffs, and Amazon warrant.
  Positive

  • Net sales grew 21% to $7.9B in Q1 FY2027 from $6.6B a year ago.
  • CPI segment sales up 35% to $2.2B in Q1 FY2027, boosted by EPP acquisition and demand.
  • Gross margin improved 70 bps to 9.4% in Q1 FY2027, driven by mix and execution.
  • Regulated Manufacturing Solutions segment margin up 130 bps to 6.6% in Q1 FY2027.
  Notable

  • Tariffs had a ~1% impact on revenue and costs, negligible on profit in Q1 FY2027.
  • One customer accounted for 12% of Q1 FY2027 sales, mostly in CPI segment.
  • Restructuring reversed $2M in Q1 FY2027 due to updated severance estimates.
  • Intangible amortization rose to $23M in Q1 FY2027 from $21M, due to the EPP acquisition.
  • Interest expense rose to $60M in Q1 FY2027 from $51M, driven by new debt issuances.
  • Sold a North American business for a $46M gain (included in other income) in Q1 FY2027.
  • Inventory rose $0.6B to support growth; working capital up $0.7B to $5.0B.
  • Debt increased to $5.2B at June 26, 2026 from $4.4B at Dec 31, 2025, due to borrowings for EPP acquisition.
  • Free cash flow fell to $41M in Q1 FY2027 from $268M, driven by higher capex and lower operating cash.
  • Share repurchases paused; $1.1B still available under the $1.7B authorization.
  • Amazon warrant expense was $3M in Q1 FY2027; warrant to buy up to 3.86M shares at $51.29.
  Negative

  • The Ukraine facility missile strike caused $51M in impairments and charges in FY2026; risks remain.

What changed: Jun 2026 vs. Dec 2025

About 17% of FLEX's Jun 2026 10-Q is new information. 42 paragraphs were added, 129 changed, and 88 removed. Below are the most important lines SECSift identified.

• Item 1 72
• Item 2 60
• Item 5 3
• Item 4 2
• Item 6 2
• Item 3 1
• Item 1A 1