Sanmina Corp (NASDAQ:SANM) shares are moving higher in extended trading on Monday on the heels of the company’s fiscal second-quarter results. Here’s what you need to know from the report.
- Sanmina shares are testing new highs. Why did SANM hit a new high?
Sanmina Q2 Highlights
- Q2 Revenue: $4.01 billion, versus estimates of $3.29 billion
- Q2 Adjusted EPS: $3.16, versus estimates of $2.40
Sanmina generated $399 million in cash flow from operations and $342 million in free cash flow during the quarter. The company ended the period with $1.58 billion in cash and cash equivalents.
“ZT Systems revenue significantly exceeded our expectations, driven by strong execution and customer demand, resulting in new accelerated compute shipments previously expected in the second half of the year to shift into the second quarter. In addition, core Sanmina grew 7.3% year-over-year, in line with expectations,” said Jure Sola, chairman and CEO of Sanmina.
Q3 & FY26 Outlook
Sanmina expects fiscal third-quarter revenue to be in the range of $3.20 billion to $3.50 billion versus estimates of $3.52 billion. The company sees third-quarter earnings in the range of $2.55 to $2.85 per share versus estimates of $2.53 per share.
Sanmina sees fiscal 2026 revenue in the range of $13.70 billion to $14.340 billion versus estimates of $13.78 billion. The company anticipates fiscal 2026 adjusted earnings of $10.75 to $11.35 per share versus estimates of $10.02 per share.
Sanmina’s board authorized a new share repurchase program of up to $600 million with no expiration date. The company’s prior buyback authorization was completed as of March 28.
SANM Shares Surge After Hours
SANM Price Action: Sanmina shares were up 14.58% in after-hours, trading at $215.50 at the time of publication on Monday, according to Benzinga Pro.
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