Flex (FLEX) Revenue — Quarter Ended Mar 31, 2024
Revenue decreased compared to both the preceding quarter and the same quarter last year. The decline partly reflects the completed spin-off of a former subsidiary.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 FY
Revenue decreased compared to both the preceding quarter and the same quarter last year. The decline partly reflects the completed spin-off of a former subsidiary.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.2B
Revenue reported for this quarter.
Quarter-over-quarter
-3.9%
Change from the immediately preceding quarter.
Year-over-year
-11.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$26.4B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $6.9B | -1.0% |
| Sep 29, 2023 | $6.9B | -15.0% |
| Dec 31, 2023 | $6.4B | -17.2% |
| Mar 31, 2024 | $6.2B | -11.7% |
Revenue performance
The reported revenue direction is downward, marking a continuation of the declining trend seen in recent quarters.
Quarterly comparison
Compared to the immediate prior quarter, revenue was lower. Compared to the same quarter one year earlier, revenue also declined.
What to watch
The impact of the Nextracker spin-off on future revenue comparability remains a key item to monitor.