Plexus Corp. Reports 28.1% Revenue Growth to $1.3 Billion in Latest Quarter

Plexus Corp. reported significant financial growth in its latest quarterly filing, with net sales reaching $1.3 billion for the three months ended July 4, 2026, a 28.1% increase from $1.02 billion in the same period last year. For the nine months ending July 4, 2026, net sales totaled $3.54 billion, up 19% from $2.97 billion in the prior year. The company's gross profit for the quarter was $131.4 million, reflecting a gross margin of 10.1%, consistent with the previous year. However, net income for the quarter decreased slightly to $43 million from $45.1 million, primarily due to increased tax expenses.

The company experienced notable changes in its operational metrics compared to the previous fiscal period. Selling and administrative expenses rose to $70.1 million for the quarter, up from $49.7 million, largely driven by a $14.9 million increase in stock-based compensation expenses related to executive retirement agreements. Operating income for the quarter increased to $61.3 million, a 14.4% rise from $53.6 million, although the operating margin decreased by 60 basis points to 4.7%.

Plexus has also made strategic moves, including the refinancing of its revolving credit facility, extending its maturity to June 5, 2031, with a maximum commitment of $500 million. The company reported a significant increase in customer demand across its segments, particularly in the Aerospace/Defense and Industrial sectors, which saw net sales increases of 27.1% and 42.2%, respectively, for the quarter. The APAC segment also contributed to growth, with a 30.4% increase in net sales, driven by production ramps for existing customers.

Operationally, Plexus reported a total employee headcount of over 20,000 across 27 facilities globally. The company’s cash and cash equivalents, along with restricted cash, stood at $314.6 million as of July 4, 2026, compared to $306.8 million at the end of the previous fiscal year. The company’s cash flow from operating activities was $39 million for the nine months ended July 4, 2026, a decrease from $117.2 million in the prior year, attributed to increased inventory levels and changes in accounts receivable.

Looking ahead, Plexus anticipates continued growth driven by increased customer demand and new product ramps. The company expects its projected cash flows, available cash, and potential borrowings under its credit facility to be sufficient to meet its working capital and capital expenditure needs over the next twelve months. However, management acknowledges potential challenges from macroeconomic factors, including supply chain constraints and increased component costs.