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Sanmina's Third Quarter Fiscal 2024 Financial Results
SanminaSanmina(US:SANM) Prnewswireยท2024-07-29 20:01

Core Viewpoint - Sanmina Corporation reported financial results for the fiscal third quarter of 2024, showing stabilization in demand and an optimistic outlook for growth in fiscal 2025 [3][4]. Financial Highlights - Revenue for Q3 2024 was $1.84 billion, a decrease from $2.21 billion in Q3 2023 [2][12]. - GAAP operating margin was 4.5%, while non-GAAP operating margin was 5.3% [2][13]. - GAAP diluted earnings per share (EPS) was $0.91, and non-GAAP diluted EPS was $1.25 [2][12]. - Cash flow from operations amounted to $90 million, with ending cash and cash equivalents at $658 million [2][12]. Fourth Quarter Outlook - The company expects revenue for Q4 2024 to be between $1.9 billion and $2.0 billion [4]. - GAAP diluted EPS is projected to be between $1.02 and $1.12, while non-GAAP diluted EPS is expected to range from $1.30 to $1.40 [4][12]. Management Commentary - Jure Sola, Chairman and CEO, stated that the company is seeing demand improve and is focused on delivering profitable growth and free cash flow while maintaining a strong balance sheet [3][4]. Company Overview - Sanmina Corporation is a leading integrated manufacturing solutions provider in the Electronics Manufacturing Services (EMS) market, serving various sectors including industrial, medical, defense, aerospace, automotive, communications networks, and cloud infrastructure [7].