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Sanmina Posts Third Quarter FY 2023 Financial Results

Sanmina Corporation, a leading integrated manufacturing solutions company, reported financial results for the fiscal third quarter ended July 1, 2023 and outlook for its fiscal fourth quarter ending September 30, 2023.

Third Quarter Fiscal 2023 Financial Highlights

•  Revenue: $2.21 billion

•  GAAP operating margin: 4.9%

•  GAAP diluted EPS: $1.28

•  Non-GAAP operating margin: 5.7%

•  Non-GAAP diluted EPS: $1.55

Additional Third Quarter Highlights

•  Cash flow from operations: $57 million

•  Ending cash and cash equivalents: $657 million

•  Share repurchases: ~970,000 shares for ~$51 million

•  Non-GAAP pre-tax ROIC: 29.7%

“Our third quarter results were in line with our outlook. We continue to execute well and deliver consistent operating margins and solid cash generation,” stated Jure Sola, Chairman and Chief Executive Officer. “Our strong performance in the first nine months and achievement of our outlook for the fourth quarter would result in fiscal 2023 revenue growth of approximately 14 percent and non-GAAP EPS growth of approximately 35 percent. The team remains focused on excellence in quality, delivery and consistently meeting the needs of our customers. We have a strong foundation and promising future,” Sola concluded.

Fourth Quarter Fiscal 2023 Outlook
The following outlook is for the fiscal fourth quarter ending September 30, 2023. These statements are forward-looking and actual results may differ materially.

  • Revenue between $2.1 billion to $2.2 billion
  • GAAP diluted earnings per share between $1.24 to $1.34
  • Non-GAAP diluted earnings per share between $1.47 to $1.57
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