Sanmina Corp
NASDAQ:SANM
Sanmina Corp
Sanmina Corporation is an intriguing player in the complex world of manufacturing solutions. Founded in 1980, this Silicon Valley-based company has navigated through the dizzying evolution of technology over the decades. At its core, Sanmina is a global leader in providing comprehensive end-to-end design, engineering, and manufacturing services. It caters to a diverse range of industries, including communications, computing, multimedia, industrial, and defense sectors. The company's expertise lies in its ability to manage the entire supply chain seamlessly, from concept development to aftermarket services, ensuring that clients get not just products, but complete solutions tailored to fit their specific needs.
Revenue generation at Sanmina is driven by its symbiotic relationships with clients, built on trust, precision, and reliability. The company's business model revolves around creating and managing complex electronic manufacturing solutions that involve printed circuit board assembly, system assembly, and other high-value services. Sanmina distinguishes itself by maintaining a global footprint, with facilities spread across key locations worldwide, allowing it to provide localized support and streamlined logistics. Its commitment to quality and innovation helps clients reduce time-to-market while controlling costs, making Sanmina a valuable partner in an era where speed and efficiency are critical to staying competitive. This blend of market expertise and operational efficiency positions Sanmina as a cornerstone in the technology manufacturing landscape.
Sanmina Corporation is an intriguing player in the complex world of manufacturing solutions. Founded in 1980, this Silicon Valley-based company has navigated through the dizzying evolution of technology over the decades. At its core, Sanmina is a global leader in providing comprehensive end-to-end design, engineering, and manufacturing services. It caters to a diverse range of industries, including communications, computing, multimedia, industrial, and defense sectors. The company's expertise lies in its ability to manage the entire supply chain seamlessly, from concept development to aftermarket services, ensuring that clients get not just products, but complete solutions tailored to fit their specific needs.
Revenue generation at Sanmina is driven by its symbiotic relationships with clients, built on trust, precision, and reliability. The company's business model revolves around creating and managing complex electronic manufacturing solutions that involve printed circuit board assembly, system assembly, and other high-value services. Sanmina distinguishes itself by maintaining a global footprint, with facilities spread across key locations worldwide, allowing it to provide localized support and streamlined logistics. Its commitment to quality and innovation helps clients reduce time-to-market while controlling costs, making Sanmina a valuable partner in an era where speed and efficiency are critical to staying competitive. This blend of market expertise and operational efficiency positions Sanmina as a cornerstone in the technology manufacturing landscape.
Strong Start: Sanmina reported a solid start to fiscal 2026, with revenue, operating margin, and EPS all at or above the high end of guidance.
Revenue Growth: Revenue was $3.19 billion, up 59% year-over-year, driven by communications networks, cloud and AI infrastructure, and the addition of ZT Systems.
Margin Expansion: Operating margin hit 6%, up 40 basis points YoY, matching the prior quarter and reflecting operational discipline and favorable mix.
EPS Beat: Non-GAAP diluted EPS was $2.38, up 66.1% YoY, and exceeded outlook.
Cash Flow: Cash flow from operations was strong at $179 million, with free cash flow at $92 million.
Guidance Upheld: Management guided Q2 revenue of $3.1–$3.4 billion and EPS of $2.25–$2.55, expressing comfort with full-year consensus around $14 billion revenue.
ZT Systems Integration: ZT Systems is performing in line with expectations, immediately accretive to EPS, and is expected to drive future growth through new AI data center projects.
End Market Trends: Communications, cloud/AI, and industrial/energy showed strong or recovering demand; automotive stabilized, and medical is starting to recover.
