Flex Ltd. has released its financial results for the first quarter of fiscal year 2026, which ended on June 27, 2025. The company reported a non-GAAP net income of $274 million, compared to $285 million in the previous quarter. The GAAP diluted earnings per share stood at $0.50, while the non-GAAP diluted earnings per share was reported at $0.72, compared to $0.73 in the preceding quarter. The company has provided guidance for the second quarter of FY26, projecting revenues between $6.5 billion and $6.8 billion. The adjusted operating income is expected to range from $375 million to $415 million, while the GAAP operating income is projected to be between $322 million and $362 million. The guidance also includes an adjusted earnings per share forecast of $0.70 to $0.78, with the GAAP earnings per share expected to range from $0.58 to $0.66. Flex Ltd. anticipates reaching its FY27 goal for a 6%+ adjusted operating margin one year ahead of schedule, based on current demand indicators and strong contractual protection for tariff pass-throughs. The company expects an adjusted free cash flow conversion rate of over 80%.