Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results

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Postmedia has not reviewed the content. by GlobeNewswire Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2026 Financial ResultsAuthor of the article:NEENAH, WI, Oct. 28, 2026 (GLOBE NEWSWIRE) — Plexus Corp. (NASDAQ: PLXS) today announced financial results for our fiscal fourth quarter and fiscal year ended October 3, 2026, and guidance for our fiscal first quarter ending January 2, 2027.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountReports fiscal fourth quarter revenue of $1.427 billion, GAAP operating margin of 6.0% and GAAP diluted EPS of $2.51.Reports fiscal 2026 revenue of $4.965 billion, GAAP operating margin of 5.3% and GAAP diluted EPS of $7.41.Reports fiscal fourth quarter non-GAAP operating margin of 6.7% and non-GAAP diluted EPS of $2.84, excluding $0.33 of stock-based compensation expense.Reports fiscal 2026 non-GAAP operating margin of 6.2% and non-GAAP diluted EPS of $8.97, excluding $1.56 of stock-based compensation expense.Initiates fiscal first quarter 2027 revenue guidance of $1.410 billion to $1.460 billion with GAAP diluted EPS of $2.16 to $2.32, including $0.30 of stock-based compensation expense. Fiscal first quarter non-GAAP diluted EPS guidance of $2.46 to $2.62 excludes stock-based compensation expense.This advertisement has not loaded yet, but your article continues below. Three Months Ended Oct 3, 2026 Oct 3, 2026 Jan 2, 2027 Q4F26 Results Q4F26 Guidance Q1F27 GuidanceSummary GAAP Items Revenue (in billions)$1.427 $1.330 to $1.380 $1.410 to $1.460Operating margin 6.0% 5.5% to 5.9% 5.5% to 5.9%Diluted EPS$2.51 $2.18 to $2.34 $2.16 to $2.32 Summary Non-GAAP Items (1) Adjusted operating margin (2) 6.7% 6.1% to 6.5% 6.0% to 6.4%Adjusted EPS (3)$2.84 $2.47 to $2.63 $2.46 to $2.62Return on invested capital (ROIC) 15.8% Economic return 6.8% (1) Refer to Non-GAAP Supplemental Information tables for additional information regarding non-GAAP financial measures.(2) Excludes stock-based compensation expense of approximately 70 bps for Q4F26 results, 60 bps for Q4F26 guidance and 50 bps for Q1F27 guidance.(3) Excludes stock-based compensation expense, net of tax, of $0.33 for Q4F26 results, $0.29 for Q4F26 guidance and $0.30 for Q1F27 guidance. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againFiscal Fourth Quarter 2026 InformationWon 36 manufacturing programs representing $290 million in annualized revenue when fully ramped into production.Generated free cash flow of $6.4 million.Purchased $21.4 million of our shares at an average price of $254.32 per share, completing the 2026 Share Repurchase Program. The 2027 Share Repurchase Program was approved by Plexus’ Board of Directors in August 2026 for an additional $100 million. The entirety of the 2027 Share Repurchase Program is available to begin fiscal 2027.This advertisement has not loaded yet, but your article continues below.Fiscal Year 2026InformationProduced ROIC of 15.8%, representing an economic return of 680 basis points above our weighted average cost of capital of 9.0%.Delivered cash cycle of 62 days.Purchased $85.0 million of our shares at an average price of $199.68 per share.Todd Kelsey, President and Chief Executive Officer, “Plexus delivered an outstanding fiscal 2026 that exceeded expectations, achieving record revenue of $5 billion, representing 23% year-over-year growth, and non-GAAP operating margin of 6.2%. In addition, ROIC surpassed our 15% enduring goal, supported by exceptional working capital performance. Finally, fiscal fourth quarter revenue of $1.43 billion, non-GAAP operating margin of 6.7% and non-GAAP EPS of $2.84 all exceeded guidance ranges as our team effectively captured stronger end-market demand and continued to support new program ramps.”Mr. Kelsey added, “In support of sustaining our diversified and accelerating growth momentum, our go-to-market team generated robust quarterly manufacturing wins of $290 million in annualized revenue. Each market sector delivered strong performance and secured exciting new customer programs and relationships. Lastly, our funnel of qualified opportunities expanded significantly by $1.2 billion year over year, or 33%, to reach another record of $4.9 billion.”This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Mr. Kelsey continued, “Our culture is foundational to our success and embodied by our team as they live our vision to help create the products that build a better world. In fiscal 2026, our global team contributed approximately 35,000 paid volunteer time off hours to our local communities and the Plexus Community Foundation donated $1.5 million to non-profits globally. In addition, we reduced our absolute Scope 1 and 2 emissions by more than 50% across our global manufacturing sites versus our fiscal 2023 baseline. Finally, I am immensely proud of the numerous customer honors earned by our team in fiscal 2026 recognizing supplier and manufacturing excellence.”David Abuhl, Senior Vice President and Chief Financial Officer, commented, “Plexus leveraged significant revenue growth, and the dividends from our ongoing operational efficiency investments and continuous improvement culture, to drive fiscal 2026 non-GAAP operating margin of 6.2%. Having consistently exceeded our previous 6% goal, we are introducing a new non-GAAP operating margin goal of 6.5% to 7.0%. This new goal is supported by strong operational momentum, continued anticipated revenue leverage and a balanced ongoing approach toward investments in growth, people and technology.”This advertisement has not loaded yet, but your article continues below.Mr. Abuhl continued, “Amidst further revenue growth acceleration, working capital discipline was outstanding, with a fiscal fourth quarter cash cycle of 62 days. While we anticipate a typical seasonal increase in cash cycle days for our fiscal first quarter, we remain focused on delivering cash cycle days in the low to mid 60s for fiscal 2027. Furthermore, we continue to expect to generate at least $100 million in fiscal 2027 free cash flow, driven by our robust profitability, strong working capital efficiency and disciplined capital investment.” Mr. Kelsey concluded, “We are guiding fiscal first quarter revenue of $1.410 to $1.460 billion, up 1% sequentially and 34% year over year at the midpoint, with non-GAAP operating margin of 6.0% to 6.4% and non-GAAP EPS of $2.46 to $2.63. For fiscal 2027, we anticipate continued expansion in revenue and profitability, driven by market sector strength, program ramps and share gains while sustaining our investments in people, operational efficiency and technology. We now expect mid- to upper-teens revenue growth with increasing operating margin and sustained working capital efficiency. Finally, through our aligned focus on innovation and our continuous improvement culture, Plexus is creating customer success, scaling the company for the future and developing substantial long-term efficiencies that we expect to generate robust financial returns and shareholder value.”This advertisement has not loaded yet, but your article continues below. Quarterly & Annual ComparisonThree Months Ended Twelve Months Ended(in thousands, except EPS)Oct 3, 2026 Jul 4, 2026 Sep 27, 2025 Oct 3, 2026 Sep 27, 2025Revenue$1,426,570 $1,304,778 $1,058,366 $4,964,957 $4,032,966 Gross profit 145,976 131,379 104,783 502,669 406,514 Operating income 86,276 61,260 53,112 263,837 202,371 Net income 68,506 42,993 51,429 202,490 172,885 Diluted EPS$2.51 $1.58 $1.87 $7.41 $6.26 Gross margin 10.2% 10.1% 9.9% 10.1% 10.1%Operating margin 6.0% 4.7% 5.0% 5.3% 5.0% ROIC (1) 15.8% 14.9% 14.6% 15.8% 14.6%Economic return (1) 6.8% 5.9% 5.7% 6.8% 5.7% (1) Refer to Non-GAAP Supplemental Information tables for non-GAAP financial measures discussed and/or disclosed in this release, such as adjusted operating margin, adjusted net income, adjusted diluted EPS, ROIC and economic return. Business Segment and Market Sector Revenue Plexus measures operational performance and allocates resources on a geographic segment basis. Plexus also reports revenue based on the market sector breakout set forth in the table below, which reflects Plexus’ market sector focused strategy. Top 10 customers comprised 56% of revenue during the fourth quarter of fiscal 2026. This is up 1 percentage point from the third quarter of fiscal 2026 and up 7 percentage points from the fourth quarter of fiscal 2025. For fiscal 2026, top 10 customers comprised 54% of revenue, up 5 percentage points from fiscal 2025.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below. Business Segments ($ in millions)Three Months Ended Twelve Months Ended Oct 3, 2026 Jul 4, 2026 Sep 27, 2025 Oct 3, 2026 Sep 27, 2025Americas$456 $428 $336 $1,626 $1,217 Asia-Pacific 861 774 605 2,898 2,393 Europe, Middle East and Africa 115 109 119 458 440 Elimination of inter-segment sales (5) (6) (2) (17) (17)Total Revenue$1,427 $1,305 $1,058 $4,965 $4,033 Market Sectors ($ in millions)Three Months Ended Twelve Months Ended Oct 3, 2026 Jul 4, 2026 Sep 27, 2025 Oct 3, 2026 Sep 27, 2025Aerospace/Defense$22416% $23318% $17316% $84717% $68917%Healthcare/Life Sciences 51236% 48337% 42440% 1,93339% 1,62940%Industrial 69148% 58945% 46144% 2,18544% 1,71543%Total Revenue$1,427 $1,305 $1,058 $4,965 $4,033 Non-GAAP Supplemental InformationPlexus 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.This advertisement has not loaded yet, but your article continues below.ROIC for fiscal year 2026 was 15.8%. 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 2026 was 9.0%. ROIC for fiscal year 2026 less Plexus’ weighted average cost of capital resulted in an economic return of 6.8%.Plexus defines free cash flow as cash flows provided by operations less capital expenditures. For the three months ended October 3, 2026, cash flows provided by operations was $29.2 million, less capital expenditures of $22.8 million, resulting in free cash flow of $6.4 million. For the fiscal year ended October 3, 2026, cash flows provided by operations was $68.2 million, less capital expenditures of $97.1 million, which resulted in a usage of free cash flow of $28.9 million. Cash Cycle DaysThree Months Ended Oct 3, 2026 Jul 4, 2026 Sep 27, 2025Days in Accounts Receivable60 56 57Days in Contract Assets13 13 13Days in Inventory119 116 118Days in Accounts Payable(81) (76) (70)Days in Advanced Payments(49) (47) (55)Annualized Cash Cycle (1)62 62 63 (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. This advertisement has not loaded yet, but your article continues below.Conference Call and Webcast InformationWhat: Plexus Fiscal Q4 and Fiscal Year 2026 Earnings Conference Call and WebcastWhen: Thursday, October 29, 2026 at 8:30 a.m. Eastern TimeWhere: 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/892821381Replay: The webcast will be archived on the Plexus website and will be available as on-demand for 12 months Investor and Media ContactShawn Harrison +1.920.969.6325shawn.harrison@plexus.comAbout PlexusAt Plexus, we help create the products that build a better world. Driven by a passion for excellence, we partner with our customers to design, manufacture and service highly complex products in demanding regulatory environments. From life-saving medical devices and mission-critical aerospace and defense products to a range of industrial products such as automation systems, robotics, power and energy management and semiconductor capital equipment, our innovative solutions span the lifecycle of a product and converge where advanced technology and human impact intersect. We provide these solutions to market-leading as well as disruptive companies globally in the Aerospace/Defense, Healthcare/Life Sciences, and Industrial market sectors, supported by a global team of approximately 25,000 members across our 29 facilities. For more information about Plexus, visit our website at www.plexus.com.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.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 effects of tariffs, trade disputes, trade agreements and other trade protection measures; the effects of shortages, delays and price fluctuations in obtaining components as a result of economic cycles, capacity constraints, natural disasters or otherwise; the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; 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 engagement terms, and the lack of a track record of order volume and timing; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; 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 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 customers and deliver product on a timely basis; the risks of concentration of work for certain customers; the effects of start-up costs of new programs and facilities or the costs associated with winding down programs or the closure or consolidation of facilities; possible unexpected costs and operating disruption in transitioning programs, including transitions between Company facilities; 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; 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 outcome of litigation and regulatory investigations and proceedings, including the results of any challenges with regard to such outcomes; the ability to realize anticipated savings from restructuring or similar actions, as well as the adequacy of related charges as compared to actual expenses; 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 the economy regionally or globally; the effect of changes in the pricing and margins of our services; 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 events outside our control, such as the conflict between Russia and Ukraine, conflict in the Middle East (including in Iran), escalating tensions between China and Taiwan or China and the United States, tensions in or amongst countries in which we operate or transact business; changes in energy prices, terrorism, global health epidemics and weather events; the impact of increased competition; an inability to successfully manage human capital, including succession planning for and transition of senior executives; 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 2025 Form 10-K.This advertisement has not loaded yet, but your article continues below. PLEXUS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)(unaudited) Three Months Ended Twelve Months Ended Oct 3, Sep 27, Oct 3, Sep 27, 2026 2025 2026 2025 Net sales$1,426,570 $1,058,366 $4,964,957 $4,032,966 Cost of sales 1,280,594 953,583 4,462,288 3,626,452 Gross profit 145,976 104,783 502,669 406,514 Operating expenses: Selling and administrative expenses 59,700 51,671 238,832 199,460 Restructuring and other charges, net — — — 4,683 Operating income 86,276 53,112 263,837 202,371 Other income (expense): Interest expense (4,946) (2,413) (15,345) (11,605)Interest income 1,098 883 4,357 3,922 Miscellaneous, net (1,952) (1,917) (7,015) (6,670)Income before income taxes 80,476 49,665 245,834 188,018 Income tax expense (benefit) 11,970 (1,764) 43,344 15,133 Net income$68,506 $51,429 $202,490 $172,885 Earnings per share: Basic$2.57 $1.91 $7.58 $6.39 Diluted$2.51 $1.87 $7.41 $6.26 Weighted average shares outstanding: Basic 26,634 26,901 26,718 27,038 Diluted 27,242 27,444 27,328 27,616 This advertisement has not loaded yet, but your article continues below. PLEXUS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)(unaudited) Oct 3, Sep 27, 2026 2025 ASSETS Current assets: Cash and cash equivalents$281,176 $306,464 Restricted cash 45 294 Accounts receivable 938,973 656,573 Contract assets 193,753 150,654 Inventories 1,674,611 1,229,839 Prepaid expenses and other 74,049 54,969 Total current assets 3,162,607 2,398,793 Property, plant and equipment, net 559,180 546,052 Operating lease right-of-use assets 66,328 72,863 Deferred income taxes 115,229 91,349 Other assets 30,593 28,053 Total non-current assets 771,330 738,317 Total assets$3,933,937 $3,137,110 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt and finance lease obligations$179,515 $45,793 Accounts payable 1,132,392 726,597 Advanced payments from customers 690,608 575,850 Accrued salaries and wages 125,020 109,076 Other accrued liabilities 82,923 61,367 Total current liabilities 2,210,458 1,518,683 Long-term debt and finance lease obligations, net of current portion 81,236 91,987 Long-term operating lease liabilities 23,053 29,422 Deferred income taxes 7,506 6,000 Other liabilities 38,576 36,430 Total non-current liabilities 150,371 163,839 Total liabilities 2,360,829 1,682,522 Shareholders’ equity: Common stock 549 547 Additional paid-in-capital 719,529 695,653 Common stock held in treasury (1,340,876) (1,255,451)Retained earnings 2,198,518 1,996,028 Accumulated other comprehensive (loss) income (4,612) 17,811 Total shareholders’ equity 1,573,108 1,454,588 Total liabilities and shareholders’ equity$3,933,937 $3,137,110 This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.PLEXUS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited) Twelve Months Ended Oct 3, Sep 27, 2026 2025 Cash flows from operating activities Net income$202,490 $172,885 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 77,025 77,792 Share-based compensation expense and related charges 46,379 30,268 Deferred income tax benefit (19,160) (16,300)Other, net 495 (6,556)Changes in operating assets and liabilities, excluding impacts of currency: Accounts receivable (285,434) (30,749)Contract assets (43,218) (29,678)Inventories (447,684) 84,862 Other current and non-current assets (23,048) 13,499 Accrued income taxes payable 5,715 (14,663)Accounts payable 417,461 98,644 Advanced payments from customers 115,700 (134,533)Other current and non-current liabilities 21,479 3,760 Cash flows provided by operating activities 68,200 249,231 Cash flows from investing activities Payments for property, plant and equipment (97,137) (95,264)Other, net (253) (347)Cash flows used in investing activities (97,390) (95,611) Cash flows from financing activities Borrowings under debt agreements 896,500 477,000 Payments on debt and finance lease obligations (785,057) (592,817)Debt issuance costs (1,191) — Repurchases of common stock, including excise tax (85,425) (65,336)Payments related to tax withholding for share-based compensation (21,875) (15,251)Cash flows provided by (used in) financing activities 2,952 (196,404)Effect of exchange rate changes on cash and cash equivalents 701 2,080 Net decrease in cash and cash equivalents and restricted cash (25,537) (40,704)Cash and cash equivalents and restricted cash: Beginning of period 306,758 347,462 End of period$281,221 $306,758 This advertisement has not loaded yet, but your article continues below.PLEXUS CORP. AND SUBSIDIARIESNON-GAAP SUPPLEMENTAL INFORMATION Table 1(in thousands, except per share data)(unaudited) Three Months Ended Twelve Months Ended Oct 3, Jul 4, Sep 27, Oct 3, Sep 27, 2026 2026 2025 2026 2025 Operating income, as reported$86,276 $61,260 $53,112 $263,837 $202,371 Operating margin, as reported 6.0% 4.7% 5.0% 5.3% 5.0% Non-GAAP adjustments: Restructuring costs (1) — — — — 4,683 Stock-based compensation (2) 9,565 21,137 7,803 46,389 29,616 Non-GAAP operating income$95,841 $82,397 $60,915 $310,226 $236,670 Non-GAAP operating margin 6.7% 6.3% 5.8% 6.2% 5.9% Net income, as reported$68,506 $42,993 $51,429 $202,490 $172,885 Non-GAAP adjustments: Restructuring costs, net of tax (1) — — — — 4,191 Stock-based compensation, net of tax (2) 8,825 20,337 7,414 42,594 28,136 Adjusted net income$77,331 $63,330 $58,843 $245,084 $205,212 Diluted earnings per share, as reported$2.51 $1.58 $1.87 $7.41 $6.26 Non-GAAP per share adjustments: Restructuring costs, net of tax (1) — — — — 0.15 Stock-based compensation, net of tax (2) 0.33 0.74 0.27 1.56 1.02 Adjusted diluted earnings per share$2.84 $2.32 $2.14 $8.97 $7.43 (1)During the twelve months ended September 27, 2025, restructuring costs of $4.7 million, or $4.2 million net of taxes, were incurred primarily for employee severance costs associated with a reduction in the Company’s workforce in the EMEA and AMER regions.(2)During the three months ended October 3, 2026, $1.1 million, or $0.8 million net of taxes ($0.03 per diluted share), of accelerated stock-based compensation expense was recorded in selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations as a result of an executive retirement agreement. During the three months ended July 4, 2026, $12.9 million, or $12.5 million net of taxes ($0.46 per diluted share), of accelerated stock-based compensation expense was recorded in selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations as a result of previously announced executive retirement agreements. During the twelve months ended October 3, 2026, $14.0 million, or $13.4 million net of taxes ($0.49 per diluted share), of accelerated stock-based compensation expense was recorded in selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations as a result of previously announced executive retirement agreements.This advertisement has not loaded yet, but your article continues below. PLEXUS CORP. AND SUBSIDIARIESNON-GAAP SUPPLEMENTAL INFORMATION Table 2(in thousands)(unaudited) ROIC and Economic Return CalculationsTwelve Months Ended Nine Months Ended Twelve Months Ended Oct 3, Jul 4, Sep 27, 2026 2026 2025 Operating income, as reported $263,837 $177,561 $202,371 Restructuring and other charges, net — — 4,683 Accelerated stock-based compensation (1)+ 14,015 + 12,940 + — Adjusted operating income $277,852 $190,501 $207,054 ÷ 3 $63,500 x 4 Adjusted annualized operating income $277,852 $254,000 $207,054 Adjusted effective tax ratex 17% x 16% x 8%Tax impact 47,235 40,640 16,564 Adjusted operating income (tax-effected) $230,617 $213,360 $190,490 Average invested capital÷$1,461,798 ÷$1,431,266 ÷$1,303,575 ROIC 15.8% 14.9% 14.6%Weighted average cost of capital– 9.0% – 9.0% – 8.9%Economic return 6.8% 5.9% 5.7% Average Invested Capital CalculationsOct 3, Jul 4, Apr 4, Jan 3, Sep 27, 2026 2026 2026 2026 2025 Equity$1,573,108 $1,528,752 $1,489,800 $1,481,063 $1,454,588 Plus: Debt and finance lease obligations – current 179,515 183,814 143,112 66,837 45,793 Operating lease obligations – current (2) 8,189 7,616 7,758 7,943 8,253 Debt and finance lease obligations – long-term 81,236 91,644 91,034 91,139 91,987 Operating lease obligations – long-term 23,053 23,888 25,769 27,327 29,422 Less: Cash and cash equivalents (281,176) (314,053) (303,133) (248,825) (306,464) $1,583,925 $1,521,661 $1,454,340 $1,425,484 $1,323,579 This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below. Average Invested Capital CalculationsJun 28, Mar 29, Dec 28, Sep 28, 2025 2025 2024 2024 Equity$1,419,085 $1,351,675 $1,319,069 $1,324,825 Plus: Debt and finance lease obligations – current 50,678 121,014 121,977 157,325 Operating lease obligations – current (2) 8,470 9,968 14,875 14,697 Debt and finance lease obligations – long-term 92,215 88,761 88,728 89,993 Operating lease obligations – long-term 31,192 32,720 35,124 32,275 Less: Cash and cash equivalents (237,567) (310,531) (317,161) (345,109) $1,364,073 $1,293,607 $1,262,612 $1,274,006 (1)During the twelve months ended October 3, 2026, $14.0 million of accelerated stock-based compensation expense was recorded in selling and administrative expense in the accompanying Condensed Consolidated Statements of Operations as a result of previously announced executive retirement agreements. During the nine months ended July 4, 2026, $12.9 million of accelerated stock-based compensation expense was recorded in selling and administrative expense in the accompanying Condensed Consolidated Statements of Operations as a result of previously announced executive retirement agreements. (2)Included in other accrued liabilities on the Condensed Consolidated Balance Sheets.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.