SAN JOSE, Calif./PRNewswire/ — Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal second quarter ended March 30, 2024 and outlook for its fiscal third quarter ending June 29, 2024.
Second Quarter Fiscal 2024 Financial Highlights
- Revenue: $1.83 billion
- GAAP operating margin: 4.1%
- GAAP diluted EPS: $0.93
- Non-GAAP(1) operating margin: 5.4%
- Non-GAAP(1) diluted EPS: $1.30
- Cash flow from operations: $72 million
- Ending cash and cash equivalents: $651 million
(1)See Schedule 1 below for more information regarding our use of non-GAAP financial measures. A reconciliation of the non-GAAP financial information contained in this release to their most directly comparable GAAP measures is included in the financial statements furnished with this release.
“Our focused execution and operating discipline yielded financial results in line with our outlook,” stated Jure Sola, Chairman and Chief Executive Officer. “During the quarter, we started to see positive movement in some end-markets that have been notably depressed for the last few quarters. While there is still macroeconomic uncertainty, the team continues to demonstrate resilience. We remain optimistic that we will see sequential improvement as we progress through 2024.”
Third Quarter Fiscal 2024 Outlook
The following outlook is for the fiscal third quarter ending June 29, 2024. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.8 billion to $1.9 billion
- GAAP diluted earnings per share between $0.95 to $1.05
- Non-GAAP diluted earnings per share between $1.22 to $1.32
Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the second quarter and outlook for the third quarter of fiscal 2024 on Monday, April 29, 2024 at 5:00 p.m. ET (2:00 p.m. PT). The access numbers are: domestic 800-836-8184 and international 646-357-8785. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q2’24 Earnings. Additional information in the form of a slide presentation is available on Sanmina’s website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 888-660-6345 and international 646-517-4150, access code is 35579#.
