The following tables contain unaudited quarterly financial data for fiscal year 2024 and 2023: | | | | | | | | | | | | | | | | | | | | | | | | | Fiscal Year 2024 | | Three Months Ended | | June 30, 2023 | | September 29, 2023 | | December 31, 2023 | | March 31, 2024 | | (In millions, except per share amounts) | | Net sales | $ | 6,892 | | | $ | 6,933 | | | $ | 6,421 | | | $ | 6,169 | | | Gross profit | 476 | | | 519 | | | 433 | | | 437 | | | Operating income | 215 | | | 281 | | | 198 | | | 159 | | | Net income from continuing operations | 147 | | | 201 | | | 129 | | | 395 | | | Net income from discontinued operations, net of tax | 64 | | | 205 | | | 104 | | | — | | | Net income | 211 | | | 406 | | | 233 | | | 395 | | | Net income attributable to noncontrolling interest and redeemable noncontrolling interest | 25 | | | 178 | | | 36 | | | — | | | Net income attributable to Flex Ltd. | $ | 186 | | | $ | 228 | | | $ | 197 | | | $ | 395 | | | | | | | | | | | Weighted-average ordinary shares outstanding - basic | 447 | | 443 | | 431 | | 417 | | Weighted-average ordinary shares outstanding - diluted | 455 | | 448 | | 436 | | 425 | | | | | | | | | | Earnings per share - basic (1) | | | | | | | | | Continuing operations | $ | 0.33 | | | $ | 0.45 | | | $ | 0.30 | | | $ | 0.95 | | | Discontinued operations, net of tax | 0.09 | | | 0.06 | | | 0.16 | | | — | | | Total attributable to the shareholders of Flex Ltd. | $ | 0.42 | | | $ | 0.51 | | | $ | 0.46 | | | $ | 0.95 | | | | | | | | | | | Earnings per share - diluted (1) | | | | | | | | | Continuing operations | $ | 0.32 | | | $ | 0.45 | | | $ | 0.30 | | | $ | 0.93 | | | Discontinued operations, net of tax | 0.09 | | | 0.06 | | | 0.15 | | | — | | | Total attributable to the shareholders of Flex Ltd. | $ | 0.41 | | | $ | 0.51 | | | $ | 0.45 | | | $ | 0.93 | |
(1) Earnings per share are computed independently for each quarter presented; therefore, the sum of the quarterly earnings per share may not equal the total earnings per share amounts for the fiscal year. | | | | | | | | | | | | | | | | | | | | | | | | | Fiscal Year 2023 | | Three Months Ended | | July 1, 2022 | | September 30, 2022 | | December 31, 2022 | | March 31, 2023 | | (In millions, except per share amounts) | | Net sales | $ | 6,961 | | | $ | 7,303 | | | $ | 7,254 | | | $ | 6,984 | | | Gross profit | 487 | | | 525 | | | 499 | | | 465 | | | Operating income | 253 | | | 282 | | | 259 | | | 223 | | | Net income from continuing operations | 176 | | | 195 | | | 173 | | | 139 | | | Net income from discontinued operations, net of tax | 19 | | | 43 | | | 64 | | | 224 | | | Net income | 195 | | | 238 | | | 237 | | | 363 | | | Net income attributable to noncontrolling interest and redeemable noncontrolling interest | 6 | | | 6 | | | 7 | | | 221 | | | Net income attributable to Flex Ltd. | $ | 189 | | | $ | 232 | | | $ | 230 | | | $ | 142 | | | | | | | | | | | Weighted-average ordinary shares outstanding - basic | 458 | | 455 | | 452 | | 451 | | Weighted-average ordinary shares outstanding - diluted | 468 | | 460 | | 459 | | 459 | | | | | | | | | | Earnings per share - basic (1) | | | | | | | | | Continuing operations | $ | 0.38 | | | $ | 0.43 | | | $ | 0.38 | | | $ | 0.30 | | | Discontinued operations, net of tax | 0.03 | | | 0.08 | | | 0.13 | | | 0.01 | | | Total attributable to the shareholders of Flex Ltd. | $ | 0.41 | | | $ | 0.51 | | | $ | 0.51 | | | $ | 0.31 | | | | | | | | | | | Earnings per share - diluted (1) | | | | | | | | | Continuing operations | $ | 0.38 | | | $ | 0.42 | | | $ | 0.38 | | | $ | 0.30 | | | Discontinued operations, net of tax | 0.02 | | | 0.08 | | | 0.12 | | | 0.01 | | | Total attributable to the shareholders of Flex Ltd. | $ | 0.40 | | | $ | 0.50 | | | $ | 0.50 | | | $ | 0.31 | |
(1) Earnings per share are computed independently for each quarter presented; therefore, the sum of the quarterly earnings per share may not equal the total earnings per share amounts for the fiscal year.
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