Plexus Corp. Reports 18.7% Revenue Growth to $1.16 Billion in Latest Quarter

Plexus Corp. reported significant financial growth in its latest quarterly filing, with net sales reaching $1.16 billion for the three months ended April 4, 2026, a substantial increase of 18.7% compared to $980.2 million in the same period last year. For the six-month period, net sales totaled $2.23 billion, up 14.2% from $1.96 billion in the prior year. The company's gross profit also saw an increase, rising to $119.2 million for the quarter, compared to $97.8 million a year earlier, while operating income improved to $61.8 million from $48.8 million. Net income for the quarter was reported at $49.8 million, a 27.4% increase from $39.1 million in the previous year.

The financial performance reflects a strategic focus on ramping production for existing and new customers across various sectors, particularly in Aerospace/Defense, Healthcare/Life Sciences, and Industrial markets. The Aerospace/Defense sector alone saw a 23% increase in sales, driven by new product launches and increased customer demand. The Healthcare/Life Sciences sector also contributed significantly, with a 15.1% rise in sales, attributed to production ramps for existing customers. The APAC region reported a 11.1% increase in sales, while the EMEA region experienced a 12.9% growth.

Operationally, Plexus has expanded its customer base and improved its inventory management, which has positively impacted cash flow metrics. The company reported a decrease in days in inventory from 132 to 120 days year-over-year, indicating improved efficiency in managing stock levels. However, cash flows from operating activities decreased to $13.1 million for the six months ended April 4, 2026, down from $90.3 million in the same period last year, primarily due to increased inventory levels and changes in accounts receivable.

Plexus has also been active in managing its capital structure, with cash and cash equivalents totaling $303.2 million as of April 4, 2026. The company has engaged in share repurchase programs, buying back $20.6 million worth of shares in the latest quarter. The company’s debt obligations increased to $234 million, reflecting net borrowings under its credit facility to support operational needs and strategic initiatives. Looking ahead, Plexus anticipates continued growth driven by strong demand across its sectors, although it remains cautious about potential macroeconomic challenges that could impact its operations.