Filing Flows › Flex (FLEX) › Q1 FY27
Flex (FLEX) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Jul 31, 2026
Flex (FLEX) reported revenue of $7.9B for the first quarter fiscal 2027 (Q1 FY27), +21% from a year earlier and +6% from the quarter before. Operating margin was 4.9%, net earnings $285M (3.6% of revenue).
Flex, Q1 FY27: revenue $7.9B (+21% year over year), operating margin 4.9%, net earnings $285M, operating cash flow $276M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.9B | +6% | +21% |
| Gross profit | $747M | +6% | +31% |
| Operating profit | $392M | +5% | +26% |
| Net earnings | $285M | +14% | +48% |
| Operating cash flow | $276M | -33% | -31% |
| Free cash flow | $41.0M | — | -85% |
What changed
Revenue was $7.9B in Q1 FY27, up 21% year over year and up 6% from the previous quarter. ITS was the largest line at 39% of revenue. CPI added $0.58B year over year (up 35%), 43% of the total change.
Gross margin was 9.4%, up 0.7 points from Q1 FY26. Operating profit was $0.39B, a 4.9% margin (up 0.2 points year over year). Of the extra revenue versus Q1 FY26, 6% reached operating profit, above the 5% margin then. Operating expenses grew 36% against revenue growth of 21%. The fastest-growing cost line was SG&A (+43%). Net earnings were $0.28B, up 48% year over year. The effective tax rate was 24.4%.
Operating cash flow was $0.28B (down 31% year over year), 97% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.20B. After purchases of property and equipment, net ($0.23B), free cash flow as the company reports it was $0.04B.
Questions
What was Flex's revenue in the first quarter fiscal 2027?
Flex (FLEX) reported revenue of $7.9B for the first quarter fiscal 2027 (Q1 FY27), +21% from a year earlier and +6% from the quarter before.
Was Flex profitable in the first quarter fiscal 2027?
Operating profit was $392M (4.9% of revenue) and net earnings $285M.
Source: Flex 10-Q on SEC EDGAR.