Sanmina Corporation Reports Solid Fiscal 2024 Results

Sanmina-sci ( (SANM) ) has released its Q4 earnings. Here is a breakdown of the information Sanmina-sci presented to its investors.

Sanmina Corporation, a Fortune 500 company, is a prominent provider of integrated manufacturing solutions within the Electronics Manufacturing Services (EMS) market, catering to various sectors including industrial, medical, automotive, and communications networks. The company, headquartered in San Jose, California, has strategically located facilities worldwide to support its operations.

In its latest earnings report for the fourth quarter and fiscal year 2024, Sanmina Corporation reported a fourth-quarter revenue of $2.02 billion and a fiscal year revenue of $7.57 billion. The company’s operating margins for the quarter were 4.4% on a GAAP basis and 5.3% on a non-GAAP basis. The earnings per share stood at $1.09 GAAP and $1.43 non-GAAP for the fourth quarter.

Key performance highlights for the fiscal year included a GAAP operating margin of 4.4% and a non-GAAP operating margin of 5.4%. The company achieved a GAAP diluted EPS of $3.91 and a non-GAAP diluted EPS of $5.28. Sanmina also generated $340 million in cash flow from operations and executed share repurchases totaling approximately 4.0 million shares for $227 million throughout the fiscal year.

Looking ahead, Sanmina’s management remains optimistic about the company’s growth prospects for fiscal 2025. The first quarter of fiscal 2025 is projected to bring in revenue between $1.925 billion to $2.025 billion, with GAAP diluted earnings per share anticipated to range from $1.03 to $1.13 and non-GAAP diluted earnings per share between $1.30 to $1.40.

Overall, Sanmina has demonstrated resilience and adaptability in navigating market dynamics, with expectations of continued growth driven by healthy demand levels in key markets such as communications networks and cloud infrastructure.