Plexus Reports 10% Revenue Growth and Record Aerospace Wins in Q1 2026
Plexus Corp (NASDAQ:PLXS) reported Q1 fiscal 2026 revenue of $1.07 billion, a 10% year-over-year increase. The aerospace and defense segment achieved record wins of $220 million, although revenue was slightly below expectations at $183 million.
The company secured $283 million in new program wins during the quarter and maintained a non-GAAP operating margin of 5.8%. The healthcare segment generated $466 million in revenue, up from $374 million last year.
Despite a decline in free cash flow to negative $50.6 million and an increase in cash cycle days, Plexus provided optimistic Q2 guidance, projecting revenue of $1.11 to $1.15 billion and non-GAAP earnings per share of $1.80 to $1.95. The company also highlighted its commitment to sustainability and was recognized as one of HR Asia's
