Plexus Corp.NASDAQ: PLXS

Q4 2026 Earnings Call Presentation

· Issued by Plexus Corp.

Key figures

  • Q4F26 revenue growth of 9% sequentially and 35% year over year
  • Q4F26 Non-GAAP operating margin of 6.7% and Non-GAAP EPS of $2.84 exceeded guidance
  • Strong Q4F26 wins of $290 million, with broad-based market sector contribution
  • 34,821 paid Volunteer Time Off hours supported by the global Plexus team in F26. Plexusʼ Community Foundation donated $1.5 million in F26.
  • Reduced absolute Scope 1 and 2 emissions by 50% across global manufacturing sites versus F23 baseline

On 6ix: 6ix.com/news/plexus-q4-2026-earnings-call-presentation

Watch Plexus explain itPlexus (NASDAQ:PLXS) Q4 2026 Earnings Call · Replay · Oct 29, 2026 · From 9:30 · Fiscal 2027 Revenue and Earnings Outlook

PLEXUS CONFIDENTIAL

FISCAL FOURTH QUARTER AND FISCAL 2026 HIGHLIGHTS

October 28, 2026

1

PLEXUS CONFIDENTIAL

FISCAL FOURTH QUARTER AND FISCAL 2026 THEMES

F26 record revenue of

$5B, with robust wins and substantial funnel expansion. Now forecasting F27 revenue growth in the mid- to upper-teens.

F26 operating margin of 6.2% exceeded our 6.0% goal. Anticipate continued operating margin expansion for F27 in pursuit of new 6.5%7.0% operating margin goal.

F26 ROIC exceeded 15% enduring goal. Forecast strong F27 ROIC performance from sustained working capital efficiency and disciplined capital spending.

OUR VISION

WE HELP CREATE THE PRODUCTS THAT BUILD A BETTER WORLD

3

OUR MISSION

THE LEADER IN HIGHLY COMPLEX PRODUCTS AND DEMANDING REGULATORY ENVIRONMENTS FINANCIAL RESULTS

  • Record Q4F26 revenue exceeded guidance

  • Q4F26 revenue growth of 9% sequentially and 35% year over year

  • Q4F26 Non-GAAP operating margin of 6.7% and Non-GAAP EPS of $2.84 exceeded guidance

    Excludes stock-based compensation expense

    4

    WINS AND FUNNEL HIGHLIGHTS*

  • Strong Q4F26 wins of $290 million, with broad-based market sector contribution

  • Exciting new customer programs and relationships added in support of growth technologies in Aerospace/Defense, Healthcare/Life Sciences and Industrial

  • Record funnel of qualified manufacturing opportunities

  1. Inclusive of sustaining services

    PLEXUS CONFIDENTIAL

    SUSTAINABILITY | Q4F26 HIGHLIGHTS

    • Honored by Eaton for Overall Supplier Excellence and GE Vernova for Lean Manufacturing Excellence

    • Awarded Manufacturing Business of the Year at the 2026 Scottish Borders Business Excellence Awards and earned High Commendations for both Innovation in Business and Large Business of the Year

    • 34,821 paid Volunteer Time Off hours supported by the global Plexus team in F26. Plexusʼ Community Foundation donated $1.5 million in F26.

    • Reduced absolute Scope 1 and 2 emissions by 50% across global manufacturing sites versus F23 baseline

      DELIVERING EXCELLENCE

      CELEBRATING OUR EATON SUPPLIER EXCELLENCE AWARD

  2. INNOVATING RESPONSIBLY FOR AND THROUGH OUR PEOPLE, OUR SOLUTIONS & OUR OPERATIONS

    - BUILT ON A FOUNDATION OF TRUST & TRANSPARENCY -

    FINANCIAL GUIDANCE

    • Q1F27 revenue of $1.410 billion to $1.460 billion

    • Q1F27 Non-GAAP EPS of $2.46 to $2.62

    • Anticipate mid- to upper-teens revenue growth and non-GAAP operating margin expansion for F27

    • Sustained working capital efficiency

      Excludes stock-based compensation expense

      Represents midpoint of guidance

      7

      • Q4F26 missed guidance on materials timing

      • F26 revenue growth of 23%

      • F27 revenue growth expected to exceed 20% on program ramps, market share gains and

      broad-based end market demand strength

      8

      Q4F26 vs. Q3F26

- 4%

MARKET SECTOR PERFORMANCE  AEROSPACE/DEFENSE

Q1F27

Expectations

Up high single digits

  • Q4F26 wins grew 60% year over year

  • Wins highlights:

    • New defense customer supporting combat training

    • Flight refueling system for defense applications

Q4F26 vs. Q3F26

+ 6%

MARKET SECTOR PERFORMANCE  HEALTHCARE/LIFE SCIENCES

Q1F27

Expectations

Up low single digits

  • Q4F26 beat guidance on ability to support stronger customer demand

  • F26 revenue growth of 19%

  • F27 expected revenue growth of high single digits

    9

  • Wins highlights:

    • New surgical robotics relationship leveraging Plexusʼ expertise in surgical technologies

    • Plexusʼ medical device, regulatory and regionalization expertise brings new relationship supporting cardiac defibrillation

      Q4F26 vs. Q3F26

+ 17%

MARKET SECTOR PERFORMANCE  INDUSTRIAL

  • Q4F26 beat guidance on stronger customer demand and supply chain/operational excellence

  • F26 revenue growth of 27%

  • F27 revenue growth expected to exceed 20% with strong core industrial growth and sustained robust semicap growth

10

Q1F27

Expectations

Down low single digits

  • Wins highlights:

    • New customer supporting smart grid battery energy storage system

    • Execution continuing to support semicap relationship expansion

QUALIFIED MANUFACTURING FUNNEL TRENDS* Funnel Expansion of 33% Year Over Year to Another Record

11 Inclusive of sustaining services

INCOME STATEMENT

Q4F25

Q3F26

Q4F26 Actual

Q4F26 Guidance

Revenue

$1.058 billion

$1.305 billion

$1.427 billion

$1.330 billion to $1.380 billion

Gross margin

9.9%

10.1%

10.2%

10.0% to 10.3%

Selling & administrative expense *

$51.7 million

$70.1 million

$59.7 million

$57.5 to $58.5 million

GAAP operating margin *

5.0%

4.7%

6.0%

5.5% to 5.9%

Non-GAAP operating margin

5.8%

6.3%

6.7%

6.1% to 6.5%

Non-operating expense

$3.4 million

$4.8 million

$5.8 million

Approximately $6.3 million

GAAP diluted EPS *

$1.87

$1.58

$2.51

$2.18 to $2.34

Non-GAAP diluted EPS

$2.14

$2.32

$2.84

$2.47 to $2.63

12

Includes stock-based compensation expense

13

CASH FLOW AND BALANCE SHEET

Q4F25

Q3F26

Q4F26

Free cash flow

$97.2 million

$0.7) million

$6.4 million

Share repurchases

$21.5 million

$20.6 million

$21.4 million

Cash balance

$307 million

$315 million

$281 million

Total debt

$138 million

$275 million

$261 million

Return on invested capital

14.6%

14.9%

15.8%

Cash cycle days

63 days

62 days

62 days

WORKING CAPITAL TRENDS

Q4F25

Q1F26

Q2F26

Q3F26

Q4F26

Days in Accounts Receivable

57

58

55

56

60

Days in Contract Assets

13

13

12

13

13

Days in Inventory

118

124

120

116

119

Days in Accounts Payable

70

71

74

76

81

Days in Advanced Payments

55

55

49

47

49

Net Cash Cycle Days

63

69

64

62

62

14

NONGAAP OPERATING MARGIN

Increasing Non-GAAP Operating Margin Goal to 6.5%7.0%

15 Excludes stock-based compensation expense

FISCAL FIRST QUARTER 2027 GUIDANCE

Q1F26

Q4F26

Q1F27 Guidance

Revenue

$1.070 billion

$1.427 billion

$1.410 billion to $1.460 billion

GAAP diluted EPS *

$1.51

$2.51

$2.16 to $2.32

Non-GAAP diluted EPS

$1.78

$2.84

$2.46 to $2.62

Gross margin

9.9%

10.2%

9.7% to 10.0%

Selling & administrative expense *

$51.7 million

$59.7 million

$61.0 to $62.0 million

GAAP operating margin *

5.1%

6.0%

5.5% to 5.9%

Non-GAAP operating margin

5.8%

6.7%

6.0% to 6.4%

Depreciation and amortization

$19.2 million

$19.7 million

Approximately $21 million

Non-operating expense

$3.4 million

$5.8 million

Approximately $6.8 million

Non-GAAP effective tax rate

17%

14%

16% to 18%

Diluted weighted average shares outstanding

27.3 million

27.2 million

27.1 million

Cash cycle days

69

62

66 to 70 days

16

Includes stock-based compensation expense

Q&A Thank you

17

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