Sanmina Exceeds Q4 Forecasts, Q1 Revenue Outlook Aligned with Predictions

SAN JOSE, California - Sanmina Corporation (NASDAQ:SANM) reported fourth-quarter earnings that exceeded analyst expectations, alongside revenue growth across most end-user markets. However, the company's earnings guidance for the first quarter of its fiscal year 2025 fell short of analyst estimates.
Sanmina announced adjusted earnings of $1.43 per share for the fourth quarter, surpassing the $1.38 expected by analysts. Revenue reached $2.02 billion, exceeding the anticipated $1.96 billion and marking a 9.6% increase from the previous quarter.
For the first quarter of fiscal year 2025, Sanmina projects revenue between $1.925 billion and $2.025 billion. The midpoint of $1.975 billion aligns with the $2 billion analyst expectation. However, the company's adjusted earnings guidance of $1.30 to $1.40 per share falls below the $1.44 analyst estimate.
Jure Sola, Chairman and CEO of Sanmina, commented on the results: "We finished the year with strong momentum. Our fourth-quarter revenue increased by 9.6% compared to the previous quarter, and our non-GAAP diluted earnings per share rose by 14.3% compared to the prior quarter, exceeding expectations."
Sola added that the company is seeing growth in most of its end-user markets, particularly in communications networks and cloud infrastructure. He also noted that despite challenges in the first half of the year, the fiscal year 2024 results were in line with expectations.
Looking ahead, Sola expressed optimism for the fiscal year 2025, stating, “Based on customer forecasts and the current healthy levels of demand, we expect fiscal year 2025 to be a year of growth.”
Demonstrating its commitment to creating shareholder value throughout fiscal year 2024, Sanmina completed a share buyback of 4 million shares for $227 million.