0000785786false00007857862024-10-232024-10-23

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________________________________________________________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
____________________________________________________________________________________________________________________________________
Date of Report (Date of earliest event reported): October 23, 2024
____________________________________________________________________________________________________________________________________
plxslogo8ka05.gif
PLEXUS CORP.
(Exact name of registrant as specified in its charter)
____________________________________________________________________________________________________________________________________
Wisconsin001-1442339-1344447
(State or other jurisdiction
 of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
One Plexus Way
Neenah, Wisconsin 54957
(Address of principal executive offices) (Zip Code)
Telephone Number (920) 969-6000
(Registrant’s telephone number, including Area Code) 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $0.01 par valuePLXSThe Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
    Emerging growth company    ☐
        If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐


Item 2.02    Results of Operations and Financial Condition.

On October 23, 2024, Plexus Corp. (“we” or the “Company”) announced results for the fiscal fourth quarter and year ended September 28, 2024. A copy of the Company’s related press release is furnished as Exhibit 99.1 to this report.


Item 9.01    Financial Statements and Exhibits

(d) The following exhibits are filed herewith:

Exhibit NumberDescription
99.1
104Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document)




* * * * *
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 23, 2024PLEXUS CORP.
(Registrant)
By: /s/ Patrick J. Jermain
Patrick J. Jermain
Executive Vice President and Chief Financial Officer



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Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2024 Financial Results
NEENAH, WI – October 23, 2024 - Plexus Corp. (NASDAQ: PLXS) today announced financial results for our fiscal fourth quarter and fiscal year ended September 28, 2024, and guidance for our fiscal first quarter 2025 ending December 28, 2024.
•Reports fiscal fourth quarter 2024 revenue of $1.05 billion, GAAP operating margin of 5.1% and GAAP diluted EPS of $1.48.
•Reports fiscal 2024 revenue of $3.96 billion, GAAP operating margin of 4.2% and GAAP diluted EPS of $4.01.
•Reports fiscal fourth quarter 2024 non-GAAP operating margin of 6.2% and non-GAAP diluted EPS of $1.85, excluding $0.37 of stock-based compensation expense, net of tax.
•Reports fiscal 2024 non-GAAP operating margin of 5.5% and non-GAAP diluted EPS of $5.72, excluding $1.06 of stock-based compensation expense and $0.65 of restructuring and other charges, net of tax.
•Initiates fiscal first quarter 2025 revenue guidance of $960 million to $1.00 billion with GAAP diluted EPS of $1.25 to $1.40, including $0.19 of stock-based compensation expense. Fiscal first quarter non-GAAP EPS guidance of $1.52 to $1.67 excludes stock-based compensation expense and restructuring charges.
Three Months Ended
Sep 28, 2024Sep 28, 2024Dec 28, 2024
Q4F24 Results
Q4F24 Guidance
Q1F25 Guidance
Summary GAAP Items
Revenue (in millions)$1,051$990 to $1,030$960 to $1,000
Operating margin5.1 %4.6% to 5.0%4.9% to 5.3%
Diluted EPS$1.48$1.14 to $1.29$1.25 to $1.40
Summary Non-GAAP Items (1)
Adjusted operating margin (2)6.2 %5.6% to 6.0%5.7% to 6.1%
Adjusted EPS (3)$1.85$1.50 to $1.65$1.52 to $1.67
Return on invested capital (ROIC)11.8 %
Economic return 3.6 %
(1)Refer to Non-GAAP Supplemental Information in Tables 1 and 2 for additional information regarding non-GAAP financial measures.
(2)Excludes stock-based compensation expense of approximately 110 bps for Q4F24 results, 100 bps for Q4F24 guidance, and 50 bps for Q1F25 guidance. Q1F25 guidance excludes restructuring charges of approximately 30 bps.
(3)
Excludes stock-based compensation expense, net of tax, of $0.37 for Q4F24 results, $0.36 for Q4F24 guidance and $0.19 for Q1F25 guidance. Q1F25 guidance excludes restructuring charges of approximately $0.08.
Fiscal Fourth Quarter 2024 Information
•Won 26 manufacturing programs representing $230 million in annualized revenue when fully ramped into production.
•Generated record quarterly free cash flow of $194 million.
•Purchased $19.5 million of our shares at an average price of $117.91 per share, completing the 2024 Share Repurchase Program. The 2025 Share Repurchase Program was approved by Plexus' Board of Directors in August 2024 for an additional $50.0 million.


Fiscal Year 2024 Information
•Generated record free cash flow of $341 million.
•Produced ROIC of 11.8%, representing an economic return of 360 basis points above our weighted average cost of capital of 8.2%.
•Purchased $55.7 million of our shares at an average price of $103.81 per share.

Todd Kelsey, President and Chief Executive Officer, commented, "Our team's focus throughout the fiscal year on delivering customer service excellence while driving expanded operational performance resulted in exceptional fiscal fourth quarter financial results and, we believe, positions us well for fiscal 2025. Fiscal fourth quarter revenue of $1.05 billion, non-GAAP operating margin of 6.2% and non-GAAP EPS of $1.85 all exceeded guidance, while quarterly free cash flow of $194 million was a record and substantially exceeded our projections."

Mr. Kelsey continued, "During fiscal 2024, we continued to create value for our shareholders, our team members, our customers and our communities by advancing our sustainable and responsible business practices. Our team made meaningful progress in reducing our global waste-to-landfill and Scope 1 and 2 emissions, donated more than $1 million through our Plexus Community Foundation and contributed more than 20,000 paid volunteer hours to our local communities. In addition, Plexus was named one of the Top 100 U.S. Internship Programs for 2024 by Yello and Business Friend of the Environment by Wisconsin Manufacturers and Commerce in recognition of our dedication to environmental stewardship, our sustainable business practices and our vision to help create the products that build a better world."

Pat Jermain, Executive Vice President and Chief Financial Officer, commented, "Fiscal fourth quarter cash cycle of 64 days was favorable to our expectations and sequentially lower by 19 days as we benefited from increased revenue and continued progress on our working capital initiatives. This level of cash cycle was the best result we delivered in the past four years."

Mr. Jermain continued, "For fiscal 2024, we generated record free cash flow of $341 million, representing more than double our previous record performance and three times our fiscal 2024 net income. With the exceptional free cash flow, we continued to execute our share repurchase programs and reduce our borrowing, ending the year in a net cash position. Cash of approximately $347 million was sequentially higher by $78 million, while borrowing under our revolving credit facility was sequentially lower by $100 million. Finally, while we expect increased investments to support future growth, we anticipate delivering robust fiscal 2025 free cash flow of $50 million to $100 million and deploying excess cash to create additional shareholder value."

Mr. Kelsey added, "We are guiding fiscal first quarter revenue of $960 million to $1.00 billion, non-GAAP operating margin of 5.7% to 6.1% and non-GAAP EPS of $1.52 to $1.67. Although revenue is impacted by the better than anticipated fiscal fourth quarter results, we expect to maintain our strong operating margin performance of recent quarters. We anticipate a return to sequential revenue growth with our fiscal second quarter."

Mr. Kelsey concluded, "We are positioned to continue to create substantial shareholder value in fiscal 2025. We anticipate meaningful fiscal 2025 EPS growth to result from continued robust Aerospace/Defense market sector demand, modest revenue growth in the Healthcare/Life Sciences and Industrial market sectors associated with new program ramps and market share gains, ongoing solid operating margin performance and reduced debt."
2

Quarterly & Annual ComparisonThree Months EndedTwelve Months Ended
(in thousands, except EPS)Sep 28, 2024Jun 29, 2024Sep 30, 2023Sep 28, 2024Sep 30, 2023
Revenue$1,050,569 $960,751 $1,023,947 $3,960,827 $4,210,305 
Gross profit107,912 94,415 96,716 378,530 394,554 
Operating income53,858 39,246 53,333 167,732 195,820 
Net income41,221 25,140 40,261 111,815 139,094 
Diluted EPS$1.48 $0.91 $1.44 $4.01 $4.95 
Gross margin10.3 %9.8 %9.4 %9.6 %9.4 %
Operating margin5.1 %4.1 %5.2 %4.2 %4.7 %
ROIC (1)11.8 %10.4 %13.4 %11.8 %13.4 %
Economic return (1)3.6 %2.2 %4.4 %3.6 %4.4 %
(1) Refer to Non-GAAP Supplemental Information in Tables 1 and 2 for non-GAAP financial measures discussed and/or disclosed in this release, such as adjusted operating margin, adjusted net income, adjusted diluted EPS, ROIC and economic return.
Business Segment and Market Sector Revenue
Plexus measures operational performance and allocates resources on a geographic segment basis. Plexus also reports revenue based on the market sector breakout set forth in the table below, which reflects Plexus’ market sector focused strategy. Top 10 customers comprised 52% of revenue during the fourth quarter of fiscal 2024. This is up 4 percentage points from the third quarter of fiscal 2024 and the fourth quarter of fiscal 2023. For fiscal 2024, top 10 customers comprised 48% of revenue, down 2 percentage points from fiscal 2023.

Business Segments ($ in millions)Three Months EndedTwelve Months Ended
Sep 28, 2024Jun 29, 2024Sep 30, 2023Sep 28, 2024Sep 30, 2023
Americas$335 $332 $389 $1,323 $1,558 
Asia-Pacific618 522 557 2,213 2,358 
Europe, Middle East and Africa128 137 108 542 403 
Elimination of inter-segment sales(30)(30)(30)(117)(109)
Total Revenue$1,051 $961 $1,024 $3,961 $4,210 

Market Sectors ($ in millions)Three Months EndedTwelve Months Ended
Sep 28, 2024Jun 29, 2024Sep 30, 2023Sep 28, 2024Sep 30, 2023
Aerospace/Defense$184 18 %$178 18 %$158 15 %$698 19 %$579 14 %
Healthcare/Life Sciences415 39 %380 40 %449 44 %1,555 38 %1,875 44 %
Industrial452 43 %403 42 %417 41 %1,708 43 %1,756 42 %
Total Revenue$1,051 $961 $1,024 $3,961 $4,210 

3

Non-GAAP Supplemental Information
Plexus provides non-GAAP supplemental information, such as ROIC, economic return and free cash flow because such measures are used for internal management goals and decision-making, and because they provide management and investors with additional insight into financial performance. In addition, management uses these and other non-GAAP measures, such as adjusted operating income, adjusted operating margin, adjusted net income and adjusted diluted EPS, to provide a better understanding of core performance for purposes of period-to-period comparisons. Plexus believes that these measures are also useful to investors because they provide further insight by eliminating the effect of non-recurring items that are not reflective of continuing operations. For additional information on non-GAAP measures, please refer to the attached Non-GAAP Supplemental Information tables.

ROIC and Economic Return
ROIC for fiscal year 2024 was 11.8%. Plexus defines ROIC as tax-effected annualized adjusted operating income divided by average invested capital over a five-quarter period for the fiscal year. Invested capital is defined as equity plus debt and operating lease obligations, less cash and cash equivalents. Plexus' weighted average cost of capital for fiscal 2024 was 8.2%. ROIC for fiscal year 2024 less Plexus’ weighted average cost of capital resulted in an economic return of 3.6%.

Free Cash Flow
Plexus defines free cash flow as cash flows provided by operations less capital expenditures. For the three months ended September 28, 2024, cash flows provided by operations was $220.1 million, less capital expenditures of $26.3 million, resulting in free cash flow of $193.8 million. For the fiscal year ended September 28, 2024, cash flows provided by operations was $436.5 million, less capital expenditures of $95.2 million, resulting in free cash flow of $341.3 million.

Cash Cycle DaysThree Months Ended
Sep 28, 2024Jun 29, 2024Sep 30, 2023
Days in Accounts Receivable546159
Days in Contract Assets101113
Days in Inventory127151154
Days in Accounts Payable(59)(62)(64)
Days in Advanced Payments(68)(78)(75)
Annualized Cash Cycle (1)648387
(1)Plexus calculates cash cycle as the sum of days in accounts receivable, days in contract assets and days in inventory, less days in accounts payable and days in advanced payments.


4

Conference Call and Webcast Information
What:
Plexus Fiscal 2024 Q4 Earnings Conference Call and Webcast
When:
Thursday, October 24, 2024 at 8:30 a.m. Eastern Time
Where:
Participants are encouraged to join the live webcast at the investor relations section of the Plexus website, plexus.com. Participants can also join utilizing the links below:

Webcast link:
https://events.q4inc.com/attendee/470217358
Replay:
The webcast will be archived on the Plexus website and will be available as on-demand for 12 months
Investor and Media Contact
Shawn Harrison
+1.920.969.6325
shawn.harrison@plexus.com
About Plexus
Since 1979, Plexus has been partnering with companies to create the products that build a better world. We are a team of over 20,000 individuals who are dedicated to providing Design and Development, Supply Chain Solutions, New Product Introduction, Manufacturing and Sustaining Services. Plexus is a global leader that specializes in serving customers in industries with highly complex products and demanding regulatory environments. Plexus delivers customer service excellence to leading companies by providing innovative, comprehensive solutions throughout a product’s lifecycle. For more information about Plexus, visit our website at www.plexus.com.
Safe Harbor and Fair Disclosure Statement
The statements contained in this press release that are guidance or which are not historical facts (such as statements in the future tense and statements including believe, expect, intend, plan, anticipate, goal, target and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the effect of inflationary pressures on our costs of production, profitability, and on the economic outlook of our markets; the effects of shortages and delays in obtaining components as a result of economic cycles, natural disasters or otherwise; the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the ability to realize anticipated savings from restructuring or similar actions, as well as the adequacy of related charges as compared to actual expenses; the lack of visibility of future orders, particularly in view of changing economic conditions; the economic performance of the industries, sectors and customers we serve; the outcome of litigation and regulatory investigations and proceedings, including the results of any challenges with regard to such outcomes; the effects of tariffs, trade disputes, trade agreements and other trade protection measures; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers, maintain our current customer base and deliver product on a timely basis; the risks of concentration of work for certain customers; the particular risks relative to new or recent customers, programs or services, which risks include customer and other delays, start-up costs, potential inability to execute, the establishment of appropriate terms of agreements, and the lack of a track record of order volume and timing; the effects of start-up costs of new programs and facilities or the costs associated with the closure or consolidation of facilities; possible unexpected costs and operating disruption in transitioning programs, including transitions between Company facilities; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the fact that customer orders may not lead to long-term relationships; our ability to manage successfully and execute a complex business model characterized by high product mix and demanding quality, regulatory, and other requirements; the risks associated with excess and obsolete inventory, including the risk that inventory purchased on behalf of our customers may not be consumed or otherwise paid for by the customer, resulting in an inventory write-off; risks related to information technology systems and data security; increasing regulatory and compliance requirements; any tax law changes and related foreign jurisdiction tax developments; current or potential future barriers to the repatriation of funds that are currently held outside of the United States as a result of actions taken by other countries or otherwise; the potential effects of jurisdictional results on our taxes, tax rates, and our ability to use deferred tax assets and net operating losses; the weakness of areas of the global economy; the effect of changes in the pricing and margins of products; raw materials and component cost fluctuations; the potential effect of fluctuations in the value of the currencies in which we transact business; the effects of changes in economic conditions, political conditions and regulatory matters in the United States and in the other countries in which we do business; the potential effect of other world or local events or other events outside our control (such as the conflict between Russia and Ukraine, conflict in the Middle East, escalating tensions between China and Taiwan or China and the United States, changes in energy prices, terrorism, global health epidemics and weather events); the impact of increased competition; an inability to successfully manage human capital; changes in financial accounting standards; and other risks detailed herein and in our other Securities and Exchange Commission filings, particularly in Risk Factors contained in our fiscal 2023 Form 10-K.
5

PLEXUS CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months EndedTwelve Months Ended
Sep 28,Sep 30,Sep 28,Sep 30,
2024202320242023
Net sales$1,050,569 $1,023,947 $3,960,827 $4,210,305 
Cost of sales942,657 927,231 3,582,297 3,815,751 
Gross profit107,912 96,716 378,530 394,554 
Operating expenses:
Selling and administrative expenses54,054 43,383 190,541 175,640 
Restructuring and other charges, net— — 20,257 23,094 
Operating income53,858 53,333 167,732 195,820 
Other income (expense):
Interest expense(5,577)(8,130)(28,876)(31,542)
Interest income1,220 847 3,860 3,138 
Miscellaneous, net(4,087)347 (13,184)(6,403)
Income before income taxes45,414 46,397 129,532 161,013 
Income tax expense4,193 6,136 17,717 21,919 
Net income
$41,221 $40,261 $111,815 $139,094 
Earnings per share:
Basic$1.52 $1.47 $4.08 $5.04 
Diluted$1.48 $1.44 $4.01 $4.95 
Weighted average shares outstanding:
Basic27,203 27,475 27,397 27,582 
Diluted27,783 27,972 27,909 28,114 


6

PLEXUS CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
(unaudited)
Sep 28,Sep 30,
20242023
ASSETS
Current assets:
Cash and cash equivalents$345,109 $256,233 
Restricted cash2,353 421 
Accounts receivable622,366 661,542 
Contract assets120,560 142,297 
Inventories1,311,434 1,562,037 
Prepaid expenses and other75,328 49,693 
Total current assets2,477,150 2,672,223 
Property, plant and equipment, net501,112 492,036 
Operating lease right-of-use assets74,360 69,363 
Deferred income taxes73,919 62,590 
Other assets27,280 24,960 
Total non-current assets676,671 648,949 
Total assets$3,153,821 $3,321,172 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt and finance lease obligations$157,325 $240,205 
Accounts payable606,378 646,610 
Advanced payments from customers709,152 760,351 
Accrued salaries and wages94,448 94,099 
Other accrued liabilities75,991 71,402 
Total current liabilities1,643,294 1,812,667 
Long-term debt and finance lease obligations, net of current portion 89,993 190,853 
Accrued income taxes payable17,198 31,382 
Long-term operating lease liabilities32,275 38,552 
Deferred income taxes8,234 4,350 
Other liabilities38,002 28,986 
Total non-current liabilities185,702 294,123 
Total liabilities1,828,996 2,106,790 
Shareholders’ equity:
Common stock545 543 
Additional paid-in-capital680,638 661,270 
Common stock held in treasury(1,190,115)(1,134,429)
Retained earnings1,823,143 1,711,328 
Accumulated other comprehensive income (loss)10,614 (24,330)
Total shareholders’ equity1,324,825 1,214,382 
Total liabilities and shareholders’ equity$3,153,821 $3,321,172 

7

PLEXUS CORP. AND SUBSIDIARIES
NON-GAAP SUPPLEMENTAL INFORMATION Table 1
(in thousands, except per share data)
(unaudited)
Three Months EndedTwelve Months Ended
Sep 28,Jun 29,Sep 30,Sep 28,Sep 30,
20242024202320242023
Operating income, as reported$53,858 $39,246 $53,333 $167,732 $195,820 
Operating margin, as reported5.1 %4.1 %5.2 %4.2 %4.7 %
Non-GAAP adjustments:
Restructuring costs (1)— 9,219 — 22,507 8,865 
Other non-recurring (income) charges (2)— — — (2,250)14,229 
Stock-based compensation (3)10,849 7,205 5,824 30,485 21,379 
Non-GAAP operating income$64,707 $55,670 $59,157 $218,474 $240,293 
Non-GAAP operating margin6.2 %5.8 %5.8 %5.5 %5.7 %
Net income, as reported$41,221 $25,140 $40,261 $111,815 $139,094 
Non-GAAP adjustments:
Restructuring costs, net of tax (1)— 8,251 — 20,144 7,920 
Other non-recurring charges, net of tax (2)— — — (2,014)13,346 
Stock-based compensation, net of tax (3)10,306 6,845 5,824 29,582 21,379 
Adjusted net income$51,527 $40,236 $46,085 $159,527 $181,739 
Diluted earnings per share, as reported$1.48 $0.91 $1.44 $4.01 $4.95 
Non-GAAP per share adjustments:
Restructuring costs, net of tax (1)— 0.30 — 0.72 0.28 
Other non-recurring charges, net of tax (2)— — — (0.07)0.47 
Stock-based compensation, net of tax (3)0.37 0.24 0.21 1.06 0.76 
Adjusted diluted earnings per share$1.85 $1.45 $1.65 $5.72 $6.46 
(1)
During the three months ended June 29, 2024, restructuring and impairment charges of $9.2 million, or $8.3 million net of taxes, were incurred for employee severance costs associated with a reduction in the Company's workforce as well as closure costs associated with a site in the Company's AMER region.

During the twelve months ended September 28, 2024, restructuring costs of $22.5 million, or $20.1 million net of taxes, were incurred for employee severance costs associated with a reduction in the Company's workforce as well as closure costs associated with a site in the Company's EMEA region and with a site in the Company's AMER region.

During the twelve months ended September 30, 2023, restructuring costs of $8.9 million, or $7.9 million net of taxes, were incurred for employee severance costs associated with a reduction in the Company's workforce as well as a lease agreement termination.

(2)During the twelve months ended September 28, 2024, insurance proceeds of $2.3 million, or $2.0 million net of taxes, were received related to an arbitration decision associated with a contractual matter that occurred in the Company's EMEA region in fiscal 2023.

During the twelve months ended September 30, 2023, a one-time, non-recurring charge of $14.2 million, or $13.3 million net of taxes, was incurred for an arbitration decision regarding a contractual matter in the Company's EMEA region.
(3)During fiscal 2024, Plexus began excluding total stock-based compensation expense from adjusted operating margin and adjusted EPS to provide meaningful comparisons to investors as most of our peer companies exclude such charges. These amounts include the accelerated stock-based compensation expense noted on Table 2.
8

PLEXUS CORP. AND SUBSIDIARIES
NON-GAAP SUPPLEMENTAL INFORMATION Table 2
 (in thousands)
(unaudited)
ROIC and Economic Return Calculations Twelve Months EndedNine Months EndedTwelve Months Ended
Sep 28,Jun 29,Sep 30,
202420242023
Operating income, as reported$167,732 $113,874 $195,820 
Restructuring and other charges20,257 20,257 23,094 
Accelerated stock-based compensation (1)+5,063 +892 +— 
Adjusted operating income$193,052 $135,023 $218,914 
÷3 
$45,008 
x4 
Adjusted annualized operating income$193,052 $180,032 $218,914 
Adjusted effective tax ratex13 %x16 %x13 %
Tax impact25,097 28,805 28,459 
Adjusted operating income (tax-effected)$167,955 $151,227 $190,455 
Average invested capital÷$1,418,698 ÷$1,454,871 ÷$1,425,626 
ROIC11.8 %10.4 %13.4 %
Weighted average cost of capital-8.2 %-8.2 %-9.0 %
Economic return3.6 %2.2 %4.4 %
Average Invested Capital CalculationsSep 28,Jun 29,Mar 30,Dec 30,Sep 30,
20242024202420232023
Equity$1,324,825 $1,266,360 $1,259,762 $1,266,755 $1,214,382 
Plus:
Debt and finance lease obligations - current157,325 258,175 245,964 251,119 240,205 
Operating lease obligations - current (2)14,697 7,990 8,281 9,172 8,363 
Debt and finance lease obligations - long-term
89,993 90,715 192,025 192,118 190,853 
Operating lease obligations - long-term32,275 31,923 33,915 35,989 38,552 
Less: Cash and cash equivalents(345,109)(269,868)(265,053)(231,982)(256,233)
$1,274,006 $1,385,295 $1,474,894 $1,523,171 $1,436,122 
Average Invested Capital CalculationsJul 1,Apr 1,Dec 31,Oct 1,
2023202320222022
Equity$1,184,362 $1,182,382 $1,150,259 $1,095,731 
Plus:
Debt and finance lease obligations - current304,781 294,011 329,076 273,971 
Operating lease obligations - current (2)8,772 8,358 8,878 7,948 
Debt and finance lease obligations - long-term
187,468 188,730 187,272 187,776 
Operating lease obligations - long-term40,515 31,257 32,149 33,628 
Less: Cash and cash equivalents(252,965)(269,664)(247,880)(274,805)
$1,472,933 $1,435,074 $1,459,754 $1,324,249 
(1)During the nine months ended June 29, 2024 and the twelve months ended September 28, 2024, $0.9 million and $5.1 million, respectively, of accelerated stock-based compensation expense was recorded in selling and administrative expense in the accompanying Consolidated Statements of Operations as a result of executive retirement agreements.
(2)Included in other accrued liabilities on the Condensed Consolidated Balance Sheets.
9
v3.24.3
Cover
Oct. 23, 2024
Document Information [Line Items]  
Document Type 8-K
Document Period End Date Oct. 23, 2024
Entity Registrant Name PLEXUS CORP.
Entity Incorporation, State or Country Code WI
Entity File Number 001-14423
Entity Tax Identification Number 39-1344447
Entity Address, Address Line One One Plexus Way
Entity Address, City or Town Neenah
Entity Address, State or Province WI
Entity Address, Postal Zip Code 54957
City Area Code 920
Local Phone Number 969-6000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol PLXS
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0000785786
Amendment Flag false
Grafico Azioni Plexus (NASDAQ:PLXS)
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Da Dic 2024 a Gen 2025 Clicca qui per i Grafici di Plexus
Grafico Azioni Plexus (NASDAQ:PLXS)
Storico
Da Gen 2024 a Gen 2025 Clicca qui per i Grafici di Plexus