SAN JOSE, Calif. /PRNewswire/ — Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the second quarter ended March 29, 2025 and outlook for its third fiscal quarter ending June 28, 2025.
Second Quarter Fiscal 2025 Financial Highlights
- Revenue: $1.98 billion
- GAAP operating margin: 4.6%
- GAAP diluted EPS: $1.16
- Non-GAAP(1) operating margin: 5.6%
- Non-GAAP(1) diluted EPS: $1.41
Additional Highlights
- Cash flow from operations: $157 million
- Free cash flow(2): $126 million
- Share repurchases: 1.03 million shares for $84 million
- Ending cash and cash equivalents: $647 million
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(1) |
See Schedule 1 below for information regarding the items excluded from and 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. |
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(2) |
See Condensed Consolidated Cash Flow Statement included in the financial statements furnished with this release. |
“We delivered solid financial results for the second quarter, with revenue at the high end and non-GAAP earnings per share exceeding our outlook. Our ability to adapt to the evolving environment is reflected in our consistent operating margin and strong cash generation,” stated Jure Sola, Chairman and Chief Executive Officer. “Our regional manufacturing footprint has enabled us to be agile and responsive to support our customers during these uncertain times. We remain focused on operational execution and driving shareholder value. Based on our results for the first half of fiscal 2025 and our outlook for the third quarter, we remain confident that fiscal 2025 will be a growth year,” Sola concluded.
Third Quarter Fiscal 2025 Outlook
The following outlook is for the third fiscal quarter ending June 28, 2025. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.925 billion to $2.025 billion
- GAAP diluted earnings per share between $1.05 to $1.15
- Non-GAAP diluted earnings per share between $1.35 to $1.45
Safe Harbor Statement
The statements above including our financial outlook for the third quarter fiscal 2025 and expectations for growth in fiscal 2025 generally, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, including adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable, including uncertainties related to trade policy; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; geopolitical uncertainty, and the other risk factors set forth in the Company’s annual and quarterly reports filed with the Securities Exchange Commission.
The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.
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 2025 on Monday, April 28, 2025 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 Q2’25 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 31002#.
