Flex Ltd.

Good morning and welcome to the FLEX third quarter fiscal year 2021 earnings conference call. Today's call is being recorded and all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. At this time for opening remarks, I would like to turn the call over to Mr. David Rubin, FLEX's Vice President of Investor Relations. Sir, you may begin.

Thank you, Rob. Good morning and welcome to Flex's third quarter fiscal 2021 earnings conference call. With me today is our chief executive officer, Revati Advaiti, and our chief financial officer, Paul Lundstrom. Both will give brief remarks followed by Q&A. This call is being webcast and recorded, and if you have not already received them, slides for today's presentation are available on the investor relations section of our flex.com website. As a reminder, today's call contains forward-looking statements which are based on our current expectations and assumptions and are subject to risks and uncertainties, so actual events and results could differ materially. Also, such information is subject to change, and we undertake no obligation to update these forward-looking statements. For full discussion of the risks and uncertainties, please see our most recent filings with the SEC. Lastly, this call references non-GAAP financial measures for the current period. The GAAP reconciliations can be found in the appendix slides of today's presentation, as well as on the investor relations section of our website. With that, I'd like to turn the call over to our CEO.

Thanks, David. Good morning, everybody, and thank you for joining us today for our fiscal Q3 earnings call, and that too at an earlier time. I do hope you and your families are healthy and safe. Of course, before I start, I want to thank all my Flex colleagues for their continued hard work and commitment. I would say that our strong third quarter results are a true testament to the efforts of all my colleagues across the world. I'd also like to provide you an update on our next tracker business. As I've previously said, we continuously evaluate our portfolio positioning, improving the mix, finding and investing in great opportunities and taking a disciplined approach and finding the right ways to maximize long-term shareholder value. As such, the company is now actively pursuing alternatives for this business. This may include, among others, a full or partial separation of the business through an initial public offering, sale, spinoff, or other transactions. As you can understand, there's only so much we can share with you today, and we'll continue to provide more information on this topic in the future. Now please turn to slide three. Our revenue was over $6.7 billion, up 12% sequentially, and up 4% year-over-year. Our adjusted operating margin came in at a strong 4.6%. This figure includes the absorption of continued macro-related challenges I'll touch on in a minute, new programs, as well as the full elimination of the previously implemented austerity measures. Our adjusted EPS was 49 cents, up from 38 cents in Q3 of last year. Our adjusted free cash flow came in at $289 million, demonstrating another strong quarter in free cash flow generation. Now moving on to the next slide. As you can see, these are very strong results. Fiscal Q3 is historically our strongest seasonal quarter. However, we executed even better than our prior expectations as we navigated the challenging environment and delivered to meet improved demand. This led to sequential and year-over-year revenue growth in both our reliability and agility segments, with five of our six business units growing sequentially as well as year-over-year. In our reliability segment, our health business is well positioned for continued growth as we invest in new program ramps and our chronic care products continue to ramp this quarter. We also saw a slower-than-expected decline in COVID-related critical care products. Unfortunately, this is due to the resurgence in COVID cases. Automotive benefited from a stronger than anticipated global recovery led by North America with improvements in all regions. The team has been working very hard to deliver in a very difficult macro environment, but they continue to make progress and we see a very bright future, particularly in our growing electrification and autonomous businesses. Industrial improved sequentially as expected on as we discussed on our last call, we still faced a year-over-year decline due to a customer-specific headwind in power solutions, as well as a tough comp in renewables related to Safe Harbor. I want to point out both of these items are transient. We remain very confident in the secular drivers in both of these spaces, and there's absolutely no change to our market positions. Our agility segment performed very well across the board. We continue to manage our mix to capitalize on important long-term secular drivers in areas such as cloud and 5G, as well as shift to premium brands and mid- to high-end products in our lifestyle business. We also continue to benefit from the recovery in consumer spending, which led to a solid holiday uptick, as well as continued spending related to work and learn from home. the key here is that the team really executed very well to meet strong demand while driving productivity and focusing on the right kind of growth this led to improved profitability and growing revenue which are goals we previously laid out i'm very proud of these strong results we achieved this quarter but i also want to point out that this is no time for us to take our eye off the ball we have all read the latest headlines on the devastating impact from the COVID second wave. So far, there have only been a few regional lockdowns, such as in Malaysia and Brazil, but it goes without saying that our number one priority is to protect our people and their families. We've also heard about the confluence of events that led to increasing supply constraints in everything from semiconductor components to trans-oceanic shipping containers. This has created an additional layer of uncertainty in a number of end markets. So far, we have anticipated and managed through these latest challenges. However, we'll continue to monitor this rapidly evolving situation. Rest assured, these are near-term potential challenges, and overall, we continue to see an improving environment and growing opportunities. One last item I wanted to touch on before I turn the call over to Paul. I've said before that ESG is an important focus for FLEX, and I'm really proud of the work we have done so far. Flex currently ranks number one in the electronics manufacturing sub-industry and is in the top 50 out of almost 13,000 companies globally as rated by Sustain Analytics. I look forward to discussing ESG in more detail on our Q4 call, but I wanted to point out our most recent achievement. We launched and closed on January 7th our new $2 billion sustainability-linked five-year revolving credit facility with our banking partners. This was to replace our previous $1.75 billion facility. Flex is the first company in the tech space to have an ESG-linked loan where the pricing is linked to Flex's performance in meeting specific ESG key performance indicator targets. In this case, greenhouse gas emissions reduction targets and work-related safety incident rates. Again, I'll update you more on our broader ESG efforts in Q4. With that, I'll turn the call over to Paul, who will walk you through our results in more detail. I'll then come back at the end to share some closing remarks. Paul?