Filing Flows › Flex (FLEX) › Q2 FY27 › vs Q1 FY27
Flex (FLEX) Q2 FY27 vs Q1 FY27 (quarter over quarter)
Flex's revenue rose $563M (+7%) from $7.9B in Q1 FY27 to $8.5B in Q2 FY27. The biggest changes: CPI +$306M (+14%); ITS +$250M (+8%); RMS +$7.0M (+0.3%). Gross margin 9.6% against 9.4% (+0.1 pts).
Flex, Q2 FY27: revenue $8.5B (+25% year over year), operating margin 4.9%, net earnings $263M, operating cash flow $501M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 9.6% | 9.4% | +0.1 pts |
| Operating margin | 4.9% | 4.9% | -0.1 pts |
| Net margin | 3.1% | 3.6% | -0.5 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| ITS | $3.3B | $3.1B | $250M | +8% |
| RMS | $2.7B | $2.7B | $7.0M | +0.3% |
| CPI | $2.5B | $2.2B | $306M | +14% |
| Revenue | $8.5B | $7.9B | $563M | +7% |
| Gross profit | $812M | $747M | $65.0M | +9% |
| Cost of revenue | $7.7B | $7.2B | $498M | +7% |
| Operating profit | $414M | $392M | $22.0M | +6% |
| Operating expenses | $398M | $355M | $43.0M | +12% |
| Pre-tax earnings | $370M | $377M | −$7.0M | -2% |
| Other expense, net | $44.0M | $15.0M | $29.0M | +193% |
| SG&A | $371M | $334M | $37.0M | +11% |
| Other operating costs | $27.0M | $21.0M | $6.0M | +29% |
| Net earnings | $263M | $285M | −$22.0M | -8% |
| Income tax | $107M | $92.0M | $15.0M | +16% |
| Depreciation & amortization | $156M | $140M | $16.0M | +11% |
| Share-based compensation | $43.0M | $51.0M | −$8.0M | -16% |
| Working capital & other | $39.0M | −$200M | $239M | — |
| Operating cash flow | $501M | $276M | $225M | +82% |
Questions
How much did Flex's revenue grow quarter over quarter in Q2 FY27?
Flex's revenue rose $563M (+7%) from $7.9B in Q1 FY27 to $8.5B in Q2 FY27.
What drove Flex's revenue change in Q2 FY27?
CPI +$306M (+14%); ITS +$250M (+8%); RMS +$7.0M (+0.3%).