Benzinga | May 5, 2021 02:27PM EDT

Flex Shares Are Trading Higher On Q4 Earnings Beat, Strong Q1 Guidance

* Flex Ltd (NASDAQ: FLEX) reported fourth-quarter FY21 revenue growth of 14.3% year-on-year to $6.266 billion, beating analysts' consensus of $5.82 billion.

* Non-GAAP operating income rose 49.8% to $310 million.

* Non-GAAP net income rose 73.4% to $248 million, with adjusted EPS of $0.49, beating analyst consensus of $0.36.

* The company held $2.637 billion in cash and equivalents, and it used $202 million in operating cash flow.

* Guidance: Q1 FY22 revenue guidance lies between $5.9 billion and $6.3 billion, beating analysts consensus of $5.8 billion; the adjusted operating income guidance range is $240 million to $280 million; Non-GAAP EPS guidance of $0.34 to $0.40, beating the consensus of $0.32.

* CEO Revathi Advaithi expects to continue the positive momentum in FY22.

* Price action: FLEX shares traded higher by 5.58% at $17.91 on the last check Wednesday.