Financial Data and Key Metrics Changes - Q2 revenue reached $2.32 billion, exceeding the guidance of $2.2 billion to $2.3 billion, with a year-over-year growth of 21% from $1.92 billion [16][24] - Non-GAAP gross margin was 8.4%, and non-GAAP operating margin improved to 5.8% from 4.7% in Q2 FY 2022 [24] - Non-GAAP fully diluted EPS was $1.59, up over 50% from $1.05 in Q2 FY 2022 [24][26] - First half FY 2023 revenue was $4.7 billion, on track for mid-teens growth for the full year compared to the prior year [26][41] Business Line Data and Key Metrics Changes - IMS revenue for the first half of FY 2023 was $3.9 billion, driven by supply chain improvements [27] - CPS revenue for the first half of FY 2023 was $889 million, with non-GAAP gross margin improving to 13.2% compared to FY 2022 [27] Market Data and Key Metrics Changes - Revenue from industrial, medical, defense, and automotive markets was $1.362 billion, with year-over-year growth of 18% [38] - Communication networks and cloud infrastructure revenue was $958 million, showing a year-over-year growth of 27% despite a slight quarter-over-quarter decline of 6% [38] Company Strategy and Development Direction - The company is focused on high complexity, heavily regulated markets, avoiding consumer markets [40] - Plans to expand capacity into more profitable projects, particularly in medical, defense, and automotive sectors [43] - Continued investment in talent and technology to support growth for FY 2024 and beyond [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties, highlighting strong operational execution and improved supply chain conditions [36][45] - The company anticipates mid-teens revenue growth for FY 2023, with expectations for margin expansion and EPS growth [41][42] Other Important Information - Cash and cash equivalents at the end of Q2 were $718 million, with no borrowings under the $800 million revolver [28] - The company has authorized $164 million for share repurchases, with an additional $200 million recently approved [29] Q&A Session Summary Question: Inventory levels and management - Management noted that inventory levels have increased over the past few years, aiming for inventory turns of six to seven times, ideally reaching eight [51] Question: Revenue guidance for Q3 - Management acknowledged slight revenue guidance decline but expressed confidence in delivering strong financial numbers despite challenges [61] Question: Communication networks performance - Management confirmed some delays in communication projects but noted strong performance in the previous quarters [83]

Today's Presenters Certain statements made during this presentation concerning our financial outlook for the third quarter fiscal 2023 and cost overruns under certain contracts for one of our divisions and the resultant pending restatement of certain prior period financial result 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 resu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-21272 Sanmina Corporation (Exact name of registrant as specified in its charter) DE 77-0228183 (State or other jurisdiction o ...

Non-GAAP Pre-Tax ROIC * Non-GAAP cost of sales excludes the same items that are excluded from the calculation of non-GAAP gross margin. 9 | --- | --- | |----------------------|-------------------| | | Q2'23 | | Revenue: | $2.2B - $2.3B | | GAAPDiluted EPS: | $1.30 - $1.40 | | Non-GAAPDiluted EPS: | $1.50 - $1.60 | 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 presentation, whether as a result ...

Financial Data and Key Metrics Changes - Q1 revenue reached $2.136 billion, a growth of approximately 7.2% from the prior quarter, exceeding the outlook of $2.1 billion to $2.2 billion [6][32] - Non-GAAP fully diluted earnings per share (EPS) grew approximately 9% to $1.64 compared to $1.50 in the prior quarter, exceeding the upper end of the outlook by $0.13 [18][32] - Non-GAAP operating margin improved by 20 basis points to 5.8% [32] Business Line Data and Key Metrics Changes - Components, Products and Services (CPS) revenue grew to $464 million, an increase of 3.8% over the prior quarter, with non-GAAP gross margin improving to 13.3% [19] - Integrated Manufacturing Services (IMS) revenue increased to $1.94 billion, a 7.7% increase over the prior quarter, with non-GAAP gross margin at 6.9% [45] - Revenue from Industrial, Medical, Defense, and Automotive segments was $1.345 billion, showing a quarter-over-quarter growth of 4.5% and year-over-year growth of 27.5% [53] Market Data and Key Metrics Changes - Communication Networks & Cloud Infrastructure revenue was $1.016 billion, with quarter-over-quarter growth of 11% and year-over-year growth of 44.6% [27] - The company reported strong demand and solid backlog across all markets, indicating a healthy outlook for future growth [28][59] Company Strategy and Development Direction - The company is focused on quality customer partnerships and diversifying revenue growth in mission-critical products [31] - The strategy is delivering results, with a strong pipeline of new opportunities expected to drive future growth [30][56] - The company aims to manage working capital effectively, with cash cycle days remaining flat at 50 days [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties, highlighting a strong outlook based on customer forecasts [57] - The company anticipates Q2 revenue in the range of $2.2 billion to $2.3 billion, despite seasonal impacts [48][59] - Management noted improvements in lead times for semiconductor components and a positive outlook for fiscal year 2023 [25][56] Other Important Information - Cash and cash equivalents were reported at $735 million, with capital expenditures around $37 million in Q1 [46][47] - The company expects non-GAAP taxes of approximately 18% and a fully diluted non-GAAP share count of 60 million shares [49] Q&A Session Summary Question: Inventory digestion in markets - Management indicated that inventory levels peaked due to customer-driven needs and shortages, expecting to work down inventory in the coming quarters across all markets [79] Question: Competitive landscape changes - Management emphasized a focus on internal capabilities and strong partnerships rather than competition, highlighting their commitment to mission-critical products in heavily regulated markets [69] Question: End markets and new programs - Management discussed strong positioning in industrial, medical, automotive, and communication networks, with excitement about new programs across these sectors [68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 1, 2022 or Commission File Number 0-21272 Sanmina Corporation ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . (Exact name of registrant as specified in its charter) DE 77-0228183 (State or other jurisdiction of incorpor ...

Financial Data and Key Metrics Changes - Q4 revenue reached $2.2 billion, a substantial increase of approximately 9.1% from the prior quarter, exceeding the outlook of $1.95 billion to $2.05 billion [16] - Non-GAAP gross margin was 8.3%, slightly down from 8.4% in the prior quarter, while non-GAAP operating margin improved to 5.6% from 5.5% [17] - Non-GAAP fully diluted earnings per share grew approximately 15% to $1.50 compared to $1.30 in the prior quarter, exceeding the upper end of the outlook by $0.13 [17] - Fiscal 2022 revenue was $7.9 billion, a growth rate of 16.8% compared to $6.8 billion in fiscal 2021 [21] - Operating margins improved from 4.9% in fiscal 2021 to 5.3% in fiscal 2022, with earnings per share growing from $3.97 to $4.99, a growth rate of over 25% [21][29] Business Line Data and Key Metrics Changes - Q4 IMS revenue increased to $1.8 billion, a 10.8% increase over the prior quarter, driven by strong customer demand [19] - Component products and services revenue grew to $447 million, approximately 4.4%, with non-GAAP gross margin for CPS remaining flat at 11.9% [20] - For fiscal 2022, revenue from Industrial, Medical, Defense, and Automotive was $4.7 billion, growing 21.2% year-over-year [31] Market Data and Key Metrics Changes - Revenue from Industrial, Medical, and Automotive markets was $1.288 billion, growing 5.7% quarter-over-quarter [30] - Communication Networks and Cloud Infrastructure revenue was $915 million, with a quarter-over-quarter growth of 14.2% [30] - Book-to-bill ratio for fiscal year 2022 was strong at 1.05:1, indicating solid demand and backlog [31] Company Strategy and Development Direction - The company is focused on high-technology mission-critical markets and plans to build a world-class engineering and manufacturing company in India through a joint venture with Reliance [14][15] - The strategy emphasizes customer-centric operations, leveraging deep technical market expertise and superior performance [32] - The company aims to diversify its end markets and expand in sectors requiring greater technical capabilities, such as renewable energy and medical devices [34][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong demand across customer bases despite ongoing supply chain challenges [24][26] - The outlook for Q1 2023 anticipates revenue in the range of $2.1 billion to $2.2 billion, with non-GAAP gross margin expected between 8.1% and 8.6% [24] - Management is optimistic about fiscal year 2023, expecting improvements in revenue and margins driven by operational efficiencies and new programs [43][44] Other Important Information - The company has a healthy balance sheet with cash and cash equivalents of $530 million and approximately $1.4 billion in liquidity [22] - Cash flow from operations was $82 million in Q4 and $331 million for fiscal 2022, with free cash flow of $34 million in Q4 and $201 million for the year [23] Q&A Session Summary Question: Concerns about capital allocation strategy and sustainability of share buybacks - Management clarified that capital allocation priorities focus primarily on funding organic growth, with share buybacks being opportunistic [52] Question: Expectations for operating expenses growth in fiscal 2023 - Management expects operating expenses as a percentage of revenue to decrease, indicating leverage despite potential nominal increases [55] Question: Year-over-year revenue growth expectations - Management is optimistic about revenue growth, emphasizing strong visibility and demand across markets [59] Question: Backlog and order visibility - Management confirmed strong backlog and customer forecasts, indicating confidence in meeting demand [68] Question: Changes in customer sentiment and competitive environment - Management noted stable sentiment in key markets, with no significant changes in competitive dynamics [71][72] Question: CapEx guidance for fiscal 2023 - Management expects CapEx to remain in the range of $50 million, driven by growth opportunities [76] Question: Joint venture in India and its potential - Management expressed high hopes for the joint venture, anticipating significant revenue growth over time [89][91]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Sanmina Corporation Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 2, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-21272 (Exact name of registrant as specified in its charter) DE 77-0228183 (State or other jurisdiction of (I. ...

Financial Data and Key Metrics Changes - Q3 revenue reached $2.02 billion, a substantial increase of approximately 5.6% from the prior quarter, exceeding the high-end of the outlook range [17] - Non-GAAP gross margin improved to 8.4% from 8.1% in the prior quarter, driven by higher revenues and a favorable product mix [18] - Non-GAAP operating margin increased to 5.5% compared to 5% in the prior quarter, attributed to improved gross margins and operating expense leverage [19] - Non-GAAP fully diluted earnings per share grew by approximately 14.4% to $1.30, surpassing the upper end of the outlook range [19] - Cash flow from operations was $102 million, and free cash flow was $65 million, indicating strong cash generation [24] Business Line Data and Key Metrics Changes - Q3 IMS revenue increased to $1.625 billion, a 4.3% rise over the prior quarter, driven by strong customer demand [21] - Non-GAAP gross margin for IMS improved to 7.3% from 7% in the prior quarter [22] - Components Products and Services revenue grew significantly to $428 million, with non-GAAP gross margin remaining flat at 11.9% [22] Market Data and Key Metrics Changes - Communication networks and cloud infrastructure accounted for 40% of revenue, growing approximately 6% quarter-over-quarter and 14% year-over-year [36] - Industrial, Medical, Defense, and Automotive markets represented approximately 60% of revenue, with a year-over-year growth of 27.2% [37] - Book-to-bill ratio for Q3 was 1.07:1, indicating strong bookings and a solid pipeline of new opportunities [38] Company Strategy and Development Direction - The company is focused on profitable growth, emphasizing high-complexity products in heavily regulated markets [46][49] - Sanmina aims to invest more in unique capabilities to drive margin expansion over the next 12 to 18 months [76] - The company is well-positioned to manage through economic challenges, with a strong balance sheet and diversified customer base [47][90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong demand across all end markets, with expectations for continued revenue growth in fiscal year 2023 [42][86] - Supply chain challenges remain, but improvements are anticipated, particularly in semiconductor components [34][105] - The company is prepared for potential recessionary conditions, focusing on execution and customer relationships [44][90] Other Important Information - Cash and cash equivalents stood at $493 million, with total liquidity of approximately $1.3 billion [23] - The company repurchased approximately 3.1 million shares during Q3, with $188 million remaining in share repurchase authorization [25] Q&A Session Summary Question: Strength in communications end market - Management indicated that networking and optical segments were strong, with good performance in 5G as well [56] Question: Year-on-year revenue comparisons for 2023 - Management expects solid performance in the first half of 2023, projecting higher absolute dollars compared to 2022 [60] Question: Inventory growth and cash conversion cycle - Inventory is expected to grow slightly more in the next quarters due to purchasing parts amid supply constraints, but should level off eventually [62] Question: Sustainability of operating margins - Management believes operating margins can remain in the 5% to 6% range, with potential for improvement as supply chain efficiencies increase [70][72] Question: Uses of cash flow - The focus will be on organic growth, investing in capabilities, and opportunistic share repurchases [78][79] Question: Clarity on bookings and backlog - Management reported strong demand and a solid backlog, with optimism for continued revenue growth in 2023 [84][86] Question: Components shortages and market resilience - Management acknowledged ongoing component shortages but emphasized that inventory is driven by customer requirements, indicating confidence in demand [92][94]

Q3 FY'22 Financial Results August 1, 2022 Today's Presenters Jure Sola Chairman & CEO Kurt Adzema EVP & CFO S A N M I N A Safe Harbor Statement Certain statements made during this presentation, including our outlook for the fourth quarter and fiscal year 2022 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 fac ...