Key Takeaways:
- Sanmina reported Q3 EPS of $3.31, beating the $2.78 consensus by 19 percent
- Revenue reached $3.46 billion, topping estimates of $3.43 billion
- The company guided Q4 EPS between $3.05 and $3.35 on revenue of $3.3B to $3.6B
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Sanmina beats Q3 estimates with $3.31 EPS as revenue hits $3.46B
Sanmina Corp. reported fiscal third-quarter earnings of $3.31 per share, beating the $2.78 consensus by 19 percent.
"Our strong execution across diversified end markets drove the quarterly outperformance," Chief Executive Officer Steve Bruns said in the earnings release.
Revenue rose to $3.46 billion in the period ended June 27, exceeding the average analyst estimate of $3.43 billion. Net income reached $117.1 million, or $2.12 per share, compared with $1.53 per share a year earlier. Adjusted earnings, which exclude stock option expense and merger-related costs, came in at $3.31 per share, more than double the $1.53 reported in the same quarter last year.
The San Jose, California-based company forecast fourth-quarter adjusted earnings of $3.05 to $3.35 per share on revenue of $3.3 billion to $3.6 billion. For the full fiscal year, Sanmina expects earnings of $11.90 to $12.20 per share and revenue of $14 billion to $14.3 billion. The midpoint of the Q4 revenue guidance range implies roughly flat sequential performance from the $3.46 billion reported in Q3.
Sanmina provides electronics manufacturing services across communications, industrial, medical, and defense end markets. The company competes with larger peers including Flex Ltd. and Jabil Inc. in the contract manufacturing space. The earnings beat signals sustained operational momentum as Sanmina navigates a mixed demand environment across its end markets. Investors will watch the Q4 earnings call for segment-level margin details and any shifts in customer inventory trends.
This article is for informational purposes only and does not constitute investment advice.
