Flex Ltd Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Just parsing through all the numbers that you've disclosed, just when I look at 3Q guide versus 4Q implied in there, there's a modest uptick in revenue and a modest uptick in profit that I get to, and I hope I'm doing the math right here, but just wondering how much of that is the cloud customer-related projects you've talked about? And -- or is there something else embedded in there in terms of recovery going from 3Q to 4Q? And any sense you can give us on the timing of those cloud projects? Are they starting in 3Q and then ramping to 4Q? Or is it more of a 4Q event in the numbers? And then I have a quick follow-up.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : And on that point, the second question was, you did mention on the core, you're seeing about a 50 basis point margin expansion in fiscal '24 when you sort of adjust all the NEXTracker numbers out. Just wondering if you can share your thoughts about sustainability of that pace of improvement going into next year, how much of the reliability improvement through the year is on account of price increases that you start to lap in fiscal '21? And how should we think about sustainability of that pace?