Flex Shares Rise on 2Q Earnings Beat
By Don Nico Forbes
Shares in Flex rose after the company posted a beat to earnings and said that Paul Lundstrom will step down as chief financial officer effective July 31.
Shares were up 9% to $32.42 in recent trading. Shares are up about 44% this year.
The electronics manufacturing services company said profit hit $139 million, or 34 cents a share. On an adjusted basis, EPS rose to 51 cents a share, beating analyst views of 41 cents.
Revenue came in at $6.31 billion, topping views of $5.90 billion.
Flex said that Jaime Martinez, who has over 20 years of experience with Flex, will takeover as CFO until a permanent replacement is found.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
July 24, 2024 11:22 ET (15:22 GMT)
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