Why Did Flex Stock Jump?

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Flex (FLEX) shares rose 11.6% on Wednesday, October 28, 2026, outpacing a 0.3% gain for the S&P 500. That same day, Flex reported quarterly results that beat analysts’ estimates on both adjusted earnings per share and revenue. Its peers also rose during the session, with Celestica up 8.4%. So what exactly did Flex report for its fiscal second quarter?

What Flex Reported For The Quarter

For the quarter, Flex reported adjusted earnings per share of $1.18 against an estimate of $1.06, alongside revenue of $8.49 billion against an estimate of $8.17 billion. Management said on the October 28 call that revenue grew 25% from a year earlier.

Of the company’s three segments, the cloud and power infrastructure business grew fastest. Management attributed the 54% revenue increase, which brought the segment to $2.5 billion, to strength in both its power business and its cloud and cooling business.

Management also raised its revenue outlook for fiscal 2027 to between $34.9 billion and $35.9 billion. It said the forecast went up by about $950 million, with roughly half coming from the existing business and the other half from EPC Power, a company Flex bought on October 14. Because of the debt taken on for that deal, management added, interest costs will be higher in the short term.

Did Flex Rise More Than Peers That Day?

Yes. All five companies on the Trefis peer list for Flex gained on October 28, but none rose as much as Flex. Celestica recorded the largest gain among them. The wider technology sector moved far less: XLK, the SPDR fund for the sector, rose 0.8%.

Where Flex Stock Stands Now

A daily advance of this size is rare for Flex. It had happened once before in the prior 365 days, when the stock gained 39.7% on May 6, 2026. The October 28 gain also followed an 8.3% rise on October 27.

Those two sessions have not undone a slide. Counting both, Flex stock was still down 18.3% over the month to October 28, compared with a 1.0% rise for the S&P 500. That month also included an 11.1% fall on October 22. The shares closed at $93.03, well below their highest close of the past year of $162.07 on June 30, 2026. Over the past year, though, Flex stock returned 43.9%, against 14.0% for the S&P 500.

Flex is expected to report its fiscal third-quarter 2027 results in February 2027. The measure to watch is cloud and power infrastructure revenue, which management expects to rise 105% to 115% in that quarter.

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