Filing Flows › Flex (FLEX) › Q2 FY27
Flex (FLEX) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Oct 30, 2026
Flex (FLEX) reported revenue of $8.5B for the second quarter fiscal 2027 (Q2 FY27), +25% from a year earlier and +7% from the quarter before. Operating margin was 4.9%, net earnings $263M (3.1% of revenue).
Flex, Q2 FY27: revenue $8.5B (+25% year over year), operating margin 4.9%, net earnings $263M, operating cash flow $501M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.5B | +7% | +25% |
| Gross profit | $812M | +9% | +32% |
| Operating profit | $414M | +6% | +40% |
| Net earnings | $263M | -8% | +32% |
| Operating cash flow | $501M | +82% | +11% |
| Free cash flow | $261M | — | -14% |
What changed
Revenue was $8.5B in Q2 FY27, up 25% year over year and up 7% from the previous quarter. ITS was the largest line at 39% of revenue. CPI added $0.88B year over year (up 54%), 52% of the total change.
Gross margin was 9.6%, up 0.5 points from Q2 FY26. Operating profit was $0.41B, a 4.9% margin (up 0.5 points year over year). Of the extra revenue versus Q2 FY26, 7% reached operating profit, above the 4% margin then. Operating expenses grew 25% against revenue growth of 25%. The fastest-growing cost line was SG&A (+43%). Net earnings were $0.26B, up 32% year over year. The effective tax rate was 28.9%.
Operating cash flow was $0.50B (up 11% year over year), 190% of net earnings. Non-cash charges added back $0.16B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.04B. After purchases of property and equipment, net ($0.24B), free cash flow as the company reports it was $0.26B.
Questions
What was Flex's revenue in the second quarter fiscal 2027?
Flex (FLEX) reported revenue of $8.5B for the second quarter fiscal 2027 (Q2 FY27), +25% from a year earlier and +7% from the quarter before.
Was Flex profitable in the second quarter fiscal 2027?
Operating profit was $414M (4.9% of revenue) and net earnings $263M.
Source: Flex 10-Q on SEC EDGAR.