Sanmina Corporat Stock Price, News & Analysis

42Q, a division of Sanmina, announced its achievement of the Amazon Web Services (AWS) Manufacturing and Industrial Competency on April 18, 2023. This designation highlights 42Q's proficiency in providing cloud-based manufacturing solutions and validates its capabilities as an AWS Partner Network member. The company is recognized for its end-to-end digital transformation services in the manufacturing sector, supporting clients in leveraging cloud technology for improved operational efficiency.

The AWS Competency designation is granted only after a rigorous validation process, ensuring customers receive high-quality service from experienced partners. 42Q's team has collaborated with AWS for over a decade, delivering solutions that enhance customer growth and satisfaction, reflecting the company's commitment to ongoing innovation in the digital manufacturing landscape.

Sanmina Corporation (NASDAQ: SANM) reported strong financial results for Q1 FY2023, with revenues of $2.36 billion, a 7.2% sequential increase. The GAAP operating margin stood at 5.2% and diluted EPS was $1.48, while non-GAAP diluted EPS reached $1.64, reflecting a 9.5% increase. Cash flow from operations was $37 million, and the company ended the quarter with $735 million in cash. The CEO highlighted demand from new and existing programs as key growth drivers. For Q2 FY2023, the company aims for continued improvement.

Sanmina Corporation (NASDAQ: SANM) will host its first quarter fiscal 2023 earnings conference call on January 30, 2023, at 5:00 PM ET. The call will provide investors with insights into Sanmina's performance and future outlook. Participants can join the call via a webcast or dial in using domestic and international numbers provided in the announcement. Sanmina, a leading provider of integrated manufacturing solutions in the global Electronics Manufacturing Services market, is known for its technology leadership across various sectors including industrial, defense, and medical markets.

Sanmina Corporation (NASDAQ: SANM) announced the appointment of David V. Hedley III to its Board of Directors, effective December 5, 2022. With over 30 years in investment banking focusing on the technology sector, Hedley is currently the Chief Strategy Officer at Bramshill Investments, managing $4.5 billion in assets. He previously held senior roles at Ernst & Young Capital Advisors and other leading financial institutions. The Chairman, Jure Sola, expressed optimism about Hedley’s contributions to the company's future success.

Sanmina Corporation reported strong financial results for Q4 and FY 2022, with revenue reaching $2.2 billion for the quarter and $7.9 billion for the year.

GAAP operating margin was 5.0% with a diluted EPS of $1.08. Non-GAAP measures showed operating margins of 5.6% and diluted EPS of $1.50.

Cash flow from operations totaled $82 million in Q4, contributing to a free cash flow of $34 million.

Looking forward, Sanmina anticipates continued growth in FY 2023 based on strong demand and new opportunities.

Sanmina Corporation (NASDAQ: SANM) will host its fourth quarter and fiscal year 2022 earnings conference call on November 7, 2022, at 5:00 PM ET. The call will provide insights into the company’s performance in key markets, including industrial, defense, medical, automotive, communications networks, and cloud infrastructure. Investors can join the call by dialing 866.652.5200 domestically or 412.317.6060 internationally. More details can be found at www.sanmina.com.

Sanmina Corporation (NASDAQ: SANM) and Reliance Strategic Business Ventures Limited have finalized their joint venture to establish a state-of-the-art electronic manufacturing hub in India, supporting the 'Make in India' initiative. This partnership leverages Sanmina's 40 years of experience in advanced manufacturing and aims to enhance high technology infrastructure in communications, healthcare, and defense sectors. Operations will center in Chennai, with plans for future expansion. The joint venture promises to foster innovation and support hardware startups in India.

Sanmina Corporation (SANM) reported strong financial results for Q3 2022, with revenue of $2.02 billion, marking a 5.6% sequential increase. GAAP diluted EPS stood at $1.29, while non-GAAP diluted EPS reached $1.30, a 14.4% increase. The company generated $102 million in operational cash flow and $65 million in free cash flow, with 3.1 million shares repurchased for $124 million. Looking ahead, Sanmina anticipates a 14% revenue growth for FY 2022, highlighting strong customer demand and effective supply chain management.