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Sanmina Reports Third Quarter Fiscal 2026 Financial Results

(Moderate)
(Very Positive)
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Sanmina (NASDAQ: SANM) reported third quarter fiscal 2026 revenue of $3.46 billion, GAAP operating margin of 6.4% and GAAP diluted EPS of $2.12. Non-GAAP operating margin was 8.0% and non-GAAP diluted EPS was $3.31. Operating cash flow was $124 million, free cash flow $24 million, and cash and equivalents ended at $1.84 billion.

According to Sanmina, Q4 fiscal 2026 guidance calls for revenue of $3.3–$3.6 billion, non-GAAP operating margin of 7.5–8.0% and non-GAAP diluted EPS of $3.05–$3.35. Full-year 2026 guidance was raised to revenue of $14.0–$14.3 billion, non-GAAP operating margin of 6.85–7.25% and non-GAAP diluted EPS of $11.90–$12.20.

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Positive

  • Q3 revenue grew to $3.46B from $2.04B year earlier
  • GAAP diluted EPS increased to $2.12 from $1.26 year earlier
  • Non-GAAP diluted EPS rose to $3.31 from $1.53 year earlier
  • Non-GAAP operating margin improved to 8.0% from 5.7% year earlier
  • FY26 non-GAAP EPS guidance raised to $11.90–$12.20 from $10.75–$11.35
  • Cash and equivalents increased to $1.84B from $926M at FY25 year-end

Negative

  • Long-term debt increased to $1.96B from $283M at FY25 year-end
  • Interest expense for nine months rose to $89M from $15M year earlier
  • Q3 free cash flow declined to $24M from $168M year earlier
  • Acquisition, integration and other expenses reached $137M for nine months vs $7M
  • Inventories increased to $3.15B from $1.99B at FY25 year-end

News Explained

The quarter records acquisition cash paid and higher debt, adding financing obligations alongside Sanmina’s acquisition activity.

On July 27, 2026, Sanmina reported results for the third quarter ended June 27, 2026; the quarter included cash paid for a business acquisition and proceeds from long-term debt.

At quarter-end, Sanmina reported cash and equivalents, short-term debt, and long-term debt, compared with the corresponding balances at September 27, 2025.

In plain terms, the disclosure adds acquisition cash already paid and a larger debt balance to Sanmina’s financial structure, making the financing burden a material new condition alongside the acquired business.

Sanmina defines its non-GAAP measures by excluding acquisition and integration expenses among other items, while acknowledging that excluded cash expenses still reduce liquidity; GAAP results therefore retain those costs.

Market Context

SANM's tagged earnings history recorded an average 6.04% 24-hour move, providing a company-specific ...
Analysis

SANM's tagged earnings history recorded an average 6.04% 24-hour move, providing a company-specific benchmark for this report. Low short positioning was an additional context point, while recent insider activity was Net Selling; guidance execution remains relevant.

Key Figures

Revenue: $3.46 billion GAAP operating margin: 6.4% GAAP diluted EPS: $2.12 +5 more
8 metrics
Revenue $3.46 billion Q3 fiscal 2026
GAAP operating margin 6.4% Q3 fiscal 2026
GAAP diluted EPS $2.12 Q3 fiscal 2026
Non-GAAP diluted EPS $3.31 Q3 fiscal 2026
Cash flow from operations $124 million Q3 fiscal 2026
Free cash flow $24 million Q3 fiscal 2026
Ending cash and cash equivalents $1.84 billion June 27, 2026
Updated non-GAAP diluted EPS outlook $11.90-$12.20 Fiscal 2026 updated outlook

Previous Earnings Reports

5 past events · Latest: Apr 27 (Positive)
Same Type Pattern 5 events
Date Event Sentiment 24h Move Catalyst
Apr 27 Second-quarter earnings Positive +14.6% Q2 results, FY26 guidance and a new share repurchase authorization
Jan 26 First-quarter earnings Positive -21.6% Q1 results, Q2 outlook and continued ZT Systems integration
Nov 03 Fourth-quarter earnings Positive +16.6% Fiscal 2025 results and fiscal Q1 2026 financial outlook
Jul 28 Third-quarter earnings Positive +22.8% Q3 results, strong cash generation and fiscal Q4 guidance
Apr 28 Second-quarter earnings Positive -2.1% Q2 results, cash generation and fiscal Q3 forecasts

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Positive earnings announcements aligned with gains in three of five tagged events, while two produced divergent negative reactions.

Key Terms

gaap, non-gaap financial measures, free cash flow, contingent consideration
4 terms
gaap financial
"GAAP operating margin: 6.4%"
GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.
View in glossary
non-gaap financial measures financial
"The statements above and financial information provided in this earnings release include non-GAAP measures"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
free cash flow financial
"Free cash flow(2): $24 million"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
View in glossary
contingent consideration financial
"fair value adjustment to contingent consideration"
Contingent consideration is an additional payment agreed when one company buys another that will be paid later only if specific future targets are met, such as revenue, profit, or regulatory milestones. It matters to investors because it shifts risk between buyer and seller and affects the acquiring company's future cash flow and reported value — like promising a bonus after results are proven.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN JOSE, Calif., July 27, 2026 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the third quarter ended June 27, 2026 and outlook for its fourth fiscal quarter ending October 3, 2026.

Third Quarter Fiscal 2026 Financial Highlights

  • Revenue: $3.46 billion
  • GAAP operating margin: 6.4%
  • GAAP diluted EPS: $2.12
  • Non-GAAP(1) operating margin: 8.0%
  • Non-GAAP(1) diluted EPS: $3.31

Additional Highlights

  • Cash flow from operations: $124 million
  • Free cash flow(2): $24 million 
  • Ending cash and cash equivalents: $1.84 billion

(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.

(2)

Free cash flow is defined as net cash provided by operating activity adjusted for net purchases of property and equipment. See Condensed Consolidated Cash Flow Statement included in the financial statements furnished with this release.

"We delivered another great quarter. Revenue was at the high end of our outlook, while non-GAAP operating margin and non-GAAP diluted EPS exceeded our outlook," stated Jure Sola, Chairman and CEO of Sanmina Corporation.

"During the quarter, we secured more customer orders in both core Sanmina and ZT Systems, expanded our capabilities, increased capacity and made progress in achieving additional synergies through vertical integration. We have established a strong foundation and continue to make strategic investments to support future growth. As momentum builds across our business, we see strong demand for fiscal 2027, with growth ramping throughout the year and into fiscal 2028."


Fourth Quarter Fiscal 2026 Outlook

Revenue:

$3.3 billion - $3.6 billion

Non-GAAP operating margin(3):

7.5% - 8.0%

Non-GAAP diluted EPS(3):

$3.05 - $3.35



Fiscal 2026 Outlook


Prior


Updated

Revenue:

$13.7 billion - $14.3 billion


$14.0 billion - $14.3 billion

Non-GAAP operating margin(3):

6.3% - 6.6%


6.85% - 7.25%

Non-GAAP diluted EPS(3):

$10.75 - $11.35


$11.90 - $12.20



(3)

This is a forward-looking non-GAAP financial measure that cannot be reconciled to its equivalent GAAP financial measure without unreasonable effort. 

Safe Harbor Statement
The statements above relating to anticipated demand during fiscal 2027 and into fiscal 2028, and our financial outlook for the fourth quarter fiscal 2026 and fiscal year 2026, 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 the risk that the integration of and expected benefits from the ZT Systems acquisition may not be realized or may take longer to realize than anticipated; adverse changes in the key markets we target, in particular the cloud and AI infrastructure sectors; the impact of recent or future changes in tariffs and trade policy, which may adversely affect our costs, supply chain, and customer demand; our reliance on a limited number of customers for a substantial portion of our sales; risks arising from our international operations and expansion into new geographic markets; geopolitical uncertainty, including relating to the conflict in the Middle East, 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 third quarter and outlook for the fourth quarter of fiscal 2026 on Monday, July 27, 2026 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 call will also be webcast live over the Internet. You can log on to the live webcast at Q3'26 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 70899#.

About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial and energy, medical, defense and aerospace, automotive and transportation, communications networks, and cloud and AI infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com

Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610

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Sanmina Corporation

Condensed Consolidated Balance Sheets

(in thousands)

(GAAP)

(Unaudited)






June 27,
2026


September 27,
2025

ASSETS




Current assets:




Cash and cash equivalents

$     1,844,942


$        926,267

Accounts receivable, net

1,986,682


1,400,129

Contract assets

522,364


425,944

Inventories

3,152,247


1,988,462

Prepaid expenses and other current assets

322,179


124,656

Total current assets

7,828,414


4,865,458

Property, plant and equipment, net

1,051,414


682,354

Deferred income tax assets

320,224


171,218

Goodwill

121,889


30,386

Other assets

417,793


108,757

Total assets

$     9,739,734


$     5,858,173

LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




Accounts payable

$     2,452,745


$     1,578,895

Accrued liabilities

366,525


179,605

Deferred revenue and customer advances

1,149,752


878,474

Accrued payroll and related benefits

212,858


167,541

Short-term debt, including current portion of long-term debt

215,000


17,500

Total current liabilities

4,396,880


2,822,015

Long-term liabilities:




Long-term debt

1,957,310


282,974

Other liabilities

625,919


214,021

Total long-term liabilities

2,583,229


496,995





Stockholders' equity

2,759,625


2,539,163

Total liabilities and stockholders' equity

$     9,739,734


$     5,858,173

 

Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)










Three Months Ended


Nine Months Ended


June 27,
2026


June 28,
2025


June 27,
2026


June 28,
2025









Net sales

$   3,464,016


$   2,041,562


$  10,666,980


$   6,031,990

Cost of sales

3,100,711


1,860,512


9,707,522


5,506,790

Gross profit

363,305


181,050


959,458


525,200









Operating expenses:








Selling, general and administrative

109,331


69,542


337,766


216,700

Research and development

8,267


8,078


24,916


22,418

Acquisition, integration and others

21,075


7,080


137,022


7,080

Amortization of intangibles

1,831



4,883


Restructuring

1,576


473


3,040


2,899

Total operating expenses

142,080


85,173


507,627


249,097









Operating income

221,225


95,877


451,831


276,103









Interest income

9,800


4,200


26,291


11,319

Interest expense

(32,464)


(4,981)


(89,324)


(14,961)

Other income (expense), net

(6,809)


(3,686)


(4,326)


(6,370)

Interest and other, net

(29,473)


(4,467)


(67,359)


(10,012)









Income before income taxes

191,752


91,410


384,472


266,091

Provision for income taxes

66,444


18,522


109,594


51,804

Net income before noncontrolling interest

125,308


72,888


274,878


214,287

     Less: Net income attributable to noncontrolling interest

8,179


4,272


14,817


16,460

Net income attributable to common shareholders

$      117,129


$        68,616


$       260,061


$      197,827









Net income attributable to common shareholders per share:








Basic

$            2.17


$            1.28


$             4.81


$            3.66

Diluted

$            2.12


$            1.26


$             4.71


$            3.58









Weighted-average shares used in computing per share amounts:








Basic

53,861


53,614


54,118


54,074

Diluted

55,133


54,493


55,254


55,285

 

Sanmina Corporation

Reconciliation of GAAP to Non-GAAP Measures

(in thousands, except per share amounts)

(Unaudited)




Three Months Ended




June 27,
2026


March 28,
2026


June 28,
2025









GAAP Operating income


$     221,225


$     157,008


$      95,877


GAAP Operating margin


6.4 %


3.9 %


4.7 %

Adjustments:








Stock compensation expense (1)


24,817


24,066


16,081


Amortization of intangible assets (2)


2,431


2,332



Acquisition, integration and others (3)


21,075


72,584


7,080


Legal (4)


4,650




Restructuring and other


1,576


794


(3,335)

Non-GAAP Operating income


$     275,774


$     256,784


$     115,703


Non-GAAP Operating margin


8.0 %


6.0 %


5.7 %









GAAP Net income attributable to common shareholders


$     117,129


$       93,646


$      68,616

Adjustments:








Operating income adjustments (see above)


54,549


99,776


19,826


Adjustments for taxes (5)


11,025


(19,497)


(4,849)

Non-GAAP Net income attributable to common shareholders

$     182,703


$     173,925


$      83,593









GAAP Net income attributable to common shareholders per share:








Basic


$           2.17


$           1.72


$          1.28


Diluted


$           2.12


$           1.70


$          1.26

Non-GAAP Net income attributable to common shareholders per share:








Basic


$           3.39


$           3.20


$          1.56


Diluted


$           3.31


$           3.16


$          1.53

Weighted-average shares used in computing per share amounts:








Basic


53,861


54,331


53,614


Diluted


55,133


55,108


54,493









(1)

Stock compensation expense








Cost of sales


$         6,542


$         5,535


$        4,956


Selling, general and administrative


17,922


18,127


10,811


Research and development


353


404


314


Total


$       24,817


$       24,066


$      16,081









(2)

Relates to amortization of intangible assets acquired from the ZT acquisition.









(3)

Q3'26 and Q2'26 results include a $13M and $59M fair value adjustment to contingent consideration, respectively, alongside certain
employee compensation and professional services related to the ZT acquisition.









(4)

Represents expense recorded in connection with the settlement in principle of a legal matter.









(5)

Adjustments for taxes include the tax effects of the various adjustments we exclude from our non-GAAP measures, and adjustments
related to deferred tax and discrete tax items.

 

Sanmina Corporation

Condensed Consolidated Cash Flow

(in thousands)

(GAAP)

(Unaudited)




Three Months Ended


Nine Months Ended



June 27,
2026


June 28,
2025


June 27,
2026


June 28,
2025










Net income before noncontrolling interest


$       125,308


$       72,888


$      274,878


$      214,287

Depreciation and intangibles amortization


48,201


29,760


134,817


89,813

Amortization of inventory fair value adjustment




49,000


Deferred income taxes


8,579


2,456


54,976


6,990

Change in fair value of contingent consideration


13,000



72,000


Other, net


26,606


11,380


72,638


41,921

Net change in net working capital


(97,203)


84,298


43,668


68,567

Cash provided by operating activities


124,491


200,782


701,977


421,578










Purchases of investments



(60)



(14,700)

Proceeds from sales of investments




8,710


49,309

Net purchases of property, plant and equipment


(100,806)


(32,604)


(244,196)


(80,172)

Cash paid for business acquisition, net of cash acquired and working
capital settlement received


242,781



(1,114,152)


Cash provided by (used in) investing activities


141,975


(32,664)


(1,349,638)


(45,563)










Proceeds from long-term debt




2,200,000


Repayment of borrowings



(4,375)


(301,875)


(13,125)

Repurchases of common stock



(13,491)


(239,244)


(113,944)

Payments for tax withholding on stock-based compensation


(3,527)


(892)


(59,602)


(38,547)

Debt issuance costs


(638)



(29,341)


Cash provided by (used in) financing activities


(4,165)


(18,758)


1,569,938


(165,616)










Effect of exchange rate changes


(866)


1,640


(1,278)


1,461










Net change in cash, cash equivalents and restricted cash equivalents


$       261,435


$      151,000


$      920,999


$      211,860










Free cash flow:









Cash provided by operating activities


$       124,491


$      200,782


$      701,977


$      421,578

Net purchases of property, plant and equipment


(100,806)


(32,604)


(244,196)


(80,172)



$         23,685


$      168,178


$      457,781


$      341,406

Schedule 1

The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income and earnings per share. Management excludes from these measures stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges and other unusual or infrequent items, as adjusted for taxes, as more fully described below.

Management excludes these items principally because such charges or benefits are not directly related to the Company's ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company's operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company's strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business. The material limitations to management's approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company's liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company's performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases.

Additional information regarding the economic substance of each exclusion, management's use of the resultant non-GAAP measures, the material limitations of management's approach and management's methods for compensating for such limitations is provided below.

Stock-based Compensation Expense, which consists of non-cash charges for the estimated fair value of equity awards granted to employees and directors, is excluded in order to permit more meaningful period-to-period comparisons of the Company's results since the Company grants different amounts and value of equity awards each quarter. In addition, given the fact that competitors grant different amounts and types of equity awards and may use different valuation assumptions, excluding stock-based compensation permits more accurate comparisons of the Company's core results with those of its competitors.

Restructuring, Acquisition, Integration and Other Expenses, which consist of employee severance, lease termination costs, exit costs, environmental investigation, remediation and related employee costs and other charges primarily related to closing and consolidating manufacturing facilities, and those associated with the acquisition, integration and other expenses of acquired businesses including fair value adjustments related to contingent consideration liability, are excluded because such charges (1) can be driven by the timing of acquisitions and exit activities which are difficult to predict, (2) are not directly related to ongoing business results and (3) generally do not reflect expected future operating expenses. In addition, given the fact that the Company's competitors complete acquisitions and adopt restructuring plans at different times and in different amounts than the Company, excluding these charges or benefits permits more accurate comparisons of the Company's core results with those of its competitors. Items excluded by the Company may be different from those excluded by the Company's competitors and restructuring and integration expenses include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Therefore, management also reviews GAAP results including these amounts.

Impairment Charges for Goodwill and Other Assets, which consist of non-cash charges, are excluded because such charges are non-recurring and do not reduce the Company's liquidity. In addition, given the fact that the Company's competitors may record impairment charges at different times, excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors.

Amortization Charges, which consist of non-cash charges impacted by the timing and magnitude of acquisitions of businesses or assets, are also excluded because such charges do not reduce the Company's liquidity. In addition, such charges can be driven by the timing of acquisitions, which is difficult to predict. Excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors because the Company's competitors complete acquisitions at different times and for different amounts than the Company.

Other Unusual or Infrequent Items, such as charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, and gains and losses on sales of assets, are excluded because such items are typically non-recurring, difficult to predict or not directly related to the Company's ongoing or core operations and are therefore not considered by management in assessing the current operating performance of the Company and forecasting earnings trends. However, items excluded by the Company may be different from those excluded by the Company's competitors. In addition, these items include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Management compensates for these limitations by reviewing GAAP results including these amounts.

Adjustments for Taxes, which consist of the tax effects of the various adjustments that we exclude from our non-GAAP measures and adjustments related to deferred tax and discrete tax items. Including these adjustments permits more accurate comparisons of the Company's core results with those of its competitors. We determine the tax adjustments based upon the various applicable effective tax rates. In those jurisdictions in which we do not expect to realize a tax cost or benefit (due to a history of operating losses or other factors), a reduced tax rate is applied.

Cision View original content:https://www.prnewswire.com/news-releases/sanmina-reports-third-quarter-fiscal-2026-financial-results-302835530.html

SOURCE Sanmina Corporation

FAQ

How did Sanmina (SANM) perform in its Q3 fiscal 2026 earnings?

Sanmina reported Q3 2026 revenue of $3.46 billion and GAAP diluted EPS of $2.12. According to Sanmina, non-GAAP diluted EPS was $3.31 and non-GAAP operating margin reached 8.0%, reflecting higher sales and improved profitability versus the prior year quarter.

What is Sanmina’s Q4 fiscal 2026 earnings outlook for SANM stock?

Sanmina expects Q4 2026 revenue of $3.3–$3.6 billion and non-GAAP EPS of $3.05–$3.35. According to Sanmina, the company also targets a non-GAAP operating margin of 7.5–8.0%, indicating continued focus on profitability in the next quarter.

Did Sanmina raise its full-year fiscal 2026 guidance for SANM?

Yes. Sanmina raised FY26 revenue guidance to $14.0–$14.3 billion and non-GAAP EPS to $11.90–$12.20. According to Sanmina, the non-GAAP operating margin outlook also increased to 6.85–7.25%, up from prior guidance of 6.3–6.6%.

What were Sanmina’s cash, debt, and free cash flow figures in Q3 2026?

Sanmina ended Q3 2026 with $1.84 billion in cash and equivalents and long-term debt of $1.96 billion. According to Sanmina, operating cash flow was $124 million and free cash flow was about $24 million, after capital spending on property and equipment.

How did Sanmina’s profitability and margins change year over year in Q3 2026?

Sanmina’s GAAP operating margin improved to 6.4% and non-GAAP margin to 8.0% in Q3 2026. According to Sanmina, GAAP diluted EPS rose to $2.12 and non-GAAP diluted EPS to $3.31, both higher than the prior year quarter.

What non-GAAP adjustments affected Sanmina’s SANM Q3 2026 results?

Key Q3 2026 non-GAAP adjustments included $24.8 million of stock compensation and $21.1 million of acquisition, integration and other costs. According to Sanmina, adjustments also covered intangible amortization, legal expenses and related tax effects in calculating non-GAAP income and EPS.

When is Sanmina’s Q3 2026 earnings conference call and how can investors listen?

Sanmina scheduled its Q3 2026 earnings call for July 27, 2026 at 5:00 p.m. ET. According to Sanmina, investors can join via domestic phone at 800-836-8184, international at 646-357-8785, or listen through a live webcast linked on the company’s website.