Plexus (PLXS) is surging after releasing fiscal second-quarter results (quarter ended April 4, 2026) that showed record revenue and profitability at or above the high end of its outlook. The company reported revenue of $1.164 billion, GAAP diluted EPS of $1.82, and non-GAAP diluted EPS of $2.05, while highlighting that non-GAAP operating margin reached 6.0%. Investors are also reacting to management’s forward view: Plexus initiated fiscal Q3 guidance for revenue of $1.200–$1.250 billion and non-GAAP EPS of $2.02–$2.18, and said it now expects mid-teens or greater fiscal 2026 revenue growth.

Beyond the headline beat, Plexus emphasized accelerating commercial momentum. The company said it won 30 manufacturing programs in the quarter, representing a record $355 million in annualized revenue once fully ramped. Management described broad-based contributions across market sectors and pointed to program ramps, improving end-market demand, and continued operational efficiency as drivers for the next quarter, while also noting progress in working-capital execution as the cash cycle improved sequentially.

Margins held up alongside growth, supporting the bullish reaction. Plexus reported GAAP operating margin of 5.3% and non-GAAP operating margin of 6.0% for fiscal Q2, and guided non-GAAP operating margin of 5.9%–6.3% for fiscal Q3. The company also reported free cash flow of $16.0 million in the quarter and updated its fiscal 2026 free cash flow outlook to a range of $50–$75 million, while continuing share repurchases under its existing authorization.