Plexus Q4 Revenue Hits $1.07B, Ups Q1 Guidance on Program Ramps and Market Share Gains

Plexus (PLXS) reported Q4 2025 revenue of $1.07B (+9.6% YoY), meeting estimates, and guided Q1 revenue to $1.13B — 4.1% above consensus. Non-GAAP EPS of $1.78 beat forecasts by 2.7%, driving shares up to $184.14 from $180.85 pre-earnings. Growth was fueled by program ramps in Healthcare/Life Sciences and Aerospace & Defense, plus stronger semiconductor and energy demand. CEO Todd Kelsey cited market share gains and operational improvements offsetting new capacity costs. CFO Patrick Jermain noted margin expansion hinges on balancing automation/talent investments with productivity gains. Key watchpoints: pace of program ramps, AI/automation impact on margins, and supply chain resilience. Management sees momentum continuing, supported by a robust pipeline and visible demand in core verticals.