Fabrinet (FN) is slated to release third-quarter fiscal 2025 results on May 5.For the fiscal third quarter, revenues are expected in the range of $850-$870 million. Non-GAAP earnings per share are anticipated to be between $2.55 and $2.63.The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $858.96 million, suggesting 17.42% growth from the figure reported in the year-ago quarter.The consensus mark for earnings is pegged at $2.47 per share, down 5% in the past 30 days, suggesting 3.35 ...

Financial Performance - Q1 2025 - Revenue for Q1 2025 was $632 million[9], compared to $676 million in Q1 2024[16] and $657 million in Q4 2024[16] - Non-GAAP gross margin was 10.1%[9], slightly down from 10.4% in Q4 2024[16] but up from 10.0% in Q1 2024[16] - Non-GAAP operating margin was 4.6%[9], compared to 4.9% in Q1 2024[16] and 5.1% in Q4 2024[16] - Non-GAAP EPS was $0.52[9], compared to $0.55 in Q1 2024[16] and $0.61 in Q4 2024[16] Sector Performance - Semi-Cap sector revenue was $195 million, representing 32% of total revenue[18], up 18% year-over-year[11] - Aerospace & Defense (A&D) sector revenue was $137 million, representing 22% of total revenue[18], up 15% year-over-year[11] Cash Flow and Balance Sheet - Free cash flow generated in Q1 2025 was $27 million[11], and over $140 million in the last 12 months[14] - The company has $80 million net cash positive[14] - Cash balance is $355 million[28] - The company repurchased $8 million in shares[28] Q2 2025 Guidance - Net sales are expected to be between $615 million and $665 million[31] - Non-GAAP gross margin is expected to be between 10.2% and 10.4%[31] - Non-GAAP operating margin is expected to be between 4.8% and 4.9%[31] - Diluted EPS (non-GAAP) is expected to be between $0.52 and $0.58[31]

Core Viewpoint - Sanmina Corporation reported strong second-quarter fiscal 2025 results, with adjusted earnings and revenues exceeding expectations, driven by growth across all segments and a significant increase in free cash flow [1] Financial Performance - Net income on a GAAP basis was $64.2 million or $1.16 per share, up from $52.5 million or 93 cents per share in the prior-year quarter, supported by top-line expansion [2] - Non-GAAP net income was $78 million or $1.41 per share, compared to $73.9 million or $1.30 in the prior-year quarter, surpassing the Zacks Consensus Estimate of $1.38 [2] Revenue Growth - Net sales increased to $1.98 billion from $1.83 billion in the year-ago quarter, beating the consensus estimate by $34 million [3] - Integrated Manufacturing Solutions generated $1.59 billion in revenues, a 9.7% year-over-year increase, contributing 80.2% to total revenues [4] - Components, Products and Services revenues rose to $391.9 million from $382.9 million in the prior-year quarter, driven by growth in several end markets [4] Segment Performance - Industrial & Energy, Medical, Defense & Aerospace, and Automotive markets generated $1.25 billion in revenues, up from $1.23 billion in the prior-year quarter [5] - Communications Networks and Cloud Infrastructure revenues increased to $732.9 million from $609.3 million in the year-ago quarter [5] Profitability Metrics - Gross profit was $176.2 million compared to $154.8 million in the year-ago quarter, driven by a favorable mix and improved operational efficiency [6] - Non-GAAP operating income totaled $110.6 million, up from $99.5 million in the prior-year period, with a non-GAAP operating margin of 5.6%, slightly up from 5.4% [6] Cash Flow and Liquidity - The company generated $156.9 million of net cash from operating activities, compared to $72.3 million in the previous year's quarter [7] - As of March 29, 2025, Sanmina had $647.1 million in cash and cash equivalents and $291.4 million in long-term debt [7] - During the quarter, approximately 1.03 million shares were repurchased for about $84 million [7] Future Outlook - For the third quarter of fiscal 2025, revenues are expected to be in the range of $1.925-$2.025 billion, with GAAP earnings per share forecasted between $1.05 and $1.15 [8] - Management estimates non-GAAP earnings per share in the band of $1.35-$1.45 [8]

Financial Data and Key Metrics Changes - The company reported revenue of $1,980,000,000 for Q2 2025, representing an 8.1% increase year-over-year [14][25] - Non-GAAP EPS was $1.41, up 7.8% compared to the same period last year [15][25] - Non-GAAP operating margin was 5.6%, up 20 basis points year-over-year [15][25] - Non-GAAP gross margin was 9.1%, an increase of 20 basis points compared to the same period last year [15][25] Business Line Data and Key Metrics Changes - IMS revenue was $1,600,000,000, up 9.8% year-over-year, primarily driven by growth in communication networks and cloud infrastructure [17] - CPS revenue was $411,000,000, up 3.3% year-over-year, with a non-GAAP gross margin of 13.9%, an increase of 100 basis points [17][18] Market Data and Key Metrics Changes - Revenue from industrial, energy, medical, defense, aerospace, and automotive sectors was $1,251,000,000, growing approximately 2.1% year-over-year [26] - Communication networks and cloud infrastructure revenue was $733,000,000, up 20.3% year-over-year [27] Company Strategy and Development Direction - The company aims to invest in faster-growing and higher-margin end markets, focusing on operational execution and customer satisfaction [36][42] - Strategic investments are planned in capacity and technology across the U.S., India, and Mexico to support future growth [21][66] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth opportunities despite geopolitical uncertainties, indicating a solid pipeline of new programs [49][50] - The company expects revenue growth of 6% to 8% for fiscal 2025, with a focus on maintaining stable operating margins [23][36] Other Important Information - The company maintained a strong balance sheet with cash and cash equivalents of $647,000,000 and no outstanding borrowings [19] - Free cash flow for the quarter was $126,000,000, allowing for continued investments and shareholder returns [22] Q&A Session Summary Question: Did you see any pull forward of demand in fiscal 2Q ahead of potential tariff increases? - Management indicated no major changes in customer behavior due to tariffs, but discussions with customers about options were ongoing [46][47] Question: Are you seeing any slowdown in demand in the fiscal second half of 2025? - Management stated they are being prudent in guidance but remain optimistic about future growth, with exciting programs on the horizon [49][50] Question: What drove the increase in gross inventory dollars? - The CFO explained that inventory is being built to support future growth, with a focus on year-over-year improvement [52][54] Question: How is demand trending in the communications end market? - Management reported strong demand across high-end routing, switching, and optical packaging, with expectations for continued strength [56][57] Question: Can you expand on the investments in capacity and technology in India, U.S., and Mexico? - Management highlighted significant growth opportunities in India, with expansions focused on data center demand and high technology printed circuit boards [66][66] Question: How competitive is the environment for new customer wins? - Management emphasized their competitive advantages in technology, quality, and flexibility, which have helped secure new customer contracts [78][80]

据悉，英业达选择前往德克萨斯州设厂，主要原因包括邻近墨西哥、当地电力供应较充足等。供应链此前还传出消息称，英业达考虑在德克萨 斯州租用厂房，建置先进服务器后段组装产线，预计最快下半年就可望启用。 4月29日消息，据台媒《经济日报》报道，电子代工大厂英业达也宣布加入了"美国制造"行列。而在此之前，鸿海、广达、纬创、纬颖、仁宝 等台系电子代工大厂均已投入"美国制造"，随着英业达也宣布在德克萨斯州建厂，台系主要电子代工厂当中，仅剩和硕未有宣布在美国布局。 4月28日，英业达董事会批准，拟斥资上限8,500万美元，在美国德克萨斯州设立服务器制造基地。此举有望降低特朗普政府关税战干扰，助力 后续营运。 英业达董事会通过美国投资计划，授权子公司在得州寻觅合适厂房。英业达指出，美国子公司为因应未来全球化策略布局及稳定客户合作关 系，满足客户出货地点需求，同时积极争取开发新客户或市场，并降低美国关税政策波动影响，将于美国得州设立产品制造基地。 代工厂忧心特朗普政府的关税政策，将为营运增添更多不确定性，因此特朗普上任以来，各大代工厂相继部署重兵，前往美国建立制造产能， 鸿海、广达、纬创及旗下服务器代工厂纬颖、仁宝等，陆续赴美投 ...

SAN JOSE, Calif., April 28, 2025 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the second quarter ended March 29, 2025 and outlook for its third fiscal quarter ending June 28, 2025.Second Quarter Fiscal 2025 Financial Highlights Revenue: $1.98 billion GAAP operating margin: 4.6% GAAP diluted EPS: $1.16 Non-GAAP(1) operating margin: 5.6% Non-GAAP(1) diluted EPS: $1.41Additional Highli ...

Financial Data and Key Metrics Changes - The company achieved revenues of $2.65 billion in Q1 2025, a 20% increase year-over-year, exceeding guidance [13][30] - Adjusted EPS for the quarter was $1.20, an increase of $0.37 or 45% year-over-year [14] - Adjusted operating margin reached 7.1%, marking the highest performance in the company's history, up 120 basis points [8][14] - Adjusted gross margin was 11.0%, up 110 basis points, driven by higher volumes and a favorable mix [14] Business Line Data and Key Metrics Changes - The CCS segment generated $1.84 billion in revenue, up 28%, driven by strong demand for networking switches [16] - The ATS segment revenue totaled $807 million, up 5%, primarily due to growth in the capital equipment business [15] - HPS revenue grew by 99% to just over $1 billion, accounting for 39% of total company revenue [18] Market Data and Key Metrics Changes - Communications end market revenues increased by 87%, driven by strong demand for HPS networking products [17] - Enterprise end market revenue decreased by 39%, better than the guidance of a mid-40s percentage decline, due to a technology transition in an AI/ML compute program [17] Company Strategy and Development Direction - The company raised its revenue outlook for 2025 from $10.7 billion to $10.85 billion, reflecting year-over-year growth of 12% [30] - The CCS segment is expected to grow in the high-teens percentage range in 2025, driven by hyperscaler customers [33] - The company is focusing on expanding its services component, particularly in higher-margin areas [73] Management's Comments on Operating Environment and Future Outlook - Management noted that the macro environment has become increasingly dynamic due to trade policy uncertainty, but resilient demand remains [9][10] - The company is confident in its ability to navigate the current macro environment, supported by a globally diversified manufacturing network [40] - Management expressed optimism about the demand outlook for the remainder of 2025, citing strong customer feedback [30] Other Important Information - The company generated $94 million of free cash flow in Q1 2025, $26 million higher than the prior year [21] - The gross debt at the end of the quarter was $887 million, with a net debt position of $584 million [23] - The company repurchased $75 million of shares during the first quarter and an additional $40 million after the quarter [24] Q&A Session Summary Question: Visibility with customers in CCS given uncertainty - Management indicated that visibility with hyperscaler customers remains strong, with no changes in CapEx plans due to tariffs [45][46] Question: Re-acceleration in enterprise side - Management expects a ramp in AI/ML compute transition starting in Q3 2025, contributing to growth in the enterprise segment [52] Question: Impact of tariffs on ATS - Management noted minimal impact from tariffs in ATS, with demand remaining strong [58] Question: Guidance for CCS communications - Management explained that flat sequential revenues are due to timing of programs, not a decline in demand [62][65] Question: 1.6T switch program updates - Management confirmed strong bookings and ongoing development, with mass production expected in the second half of 2026 [70][72] Question: Price elasticity and customer feedback on tariffs - Management reported that customers did not waver in their commitment to CapEx plans during elevated tariff periods [112] Question: Pipeline changes in the last month - Management stated that the pipeline remains strong, with no major changes due to tariffs [116] Question: Ramps and guidance interaction - Management indicated that sequential growth is expected in the second half of 2025, with ongoing strong demand for 800G programs [122] Question: Margin improvement in ATS - Management noted that margin-dilutive programs are reflected in guidance, with opportunities for further margin expansion in ATS [129]

Q1 2025 Financial Performance - Revenue reached $2649 billion, a 20% increase year-over-year, exceeding the guidance of $2475 billion - $2625 billion[15] - Adjusted Operating Margin (Non-GAAP) was 71%, a 120 bps increase year-over-year, surpassing the guidance of 68%[15] - Adjusted EPS (Non-GAAP) was $120, a 45% increase year-over-year, also exceeding the guidance of $106 - $116[15] - Adjusted Gross Margin (non-GAAP) was 110%, a 11% increase year-over-year[18] - GAAP Earnings from Operations as a % of Revenue was 49%, a decrease of 80 bps year-over-year[15] - GAAP EPS was $074, a 4% decrease year-over-year[15] Segment Performance - ATS segment revenue was $807 million, a 5% increase year-over-year[19] - CCS segment revenue was $1842 billion, a 28% increase year-over-year, with Communications at $1428 billion (up 87%) and Enterprise at $414 million (down 39%)[19] - ATS segment income was $41 million, a 28% increase year-over-year, with a segment margin of 50%, up 80 bps[19] - CCS segment income was $147 million, a 49% increase year-over-year, with a segment margin of 80%, up 120 bps[19] 2025 Outlook - Revenue outlook is $1085 billion, increased from previous outlook of $1070 billion[39] - Adjusted Operating Margin (Non-GAAP) is 72%, increased from previous outlook of 69%[39] - Adjusted EPS (Non-GAAP) is $500, increased from previous outlook of $475[39]

Group 1 - Sanmina Corporation will host its second quarter fiscal 2025 earnings conference call on April 28, 2025, at 5:00 PM ET [1] - The live webcast presentation and supporting materials will be available on the Sanmina website in the Investor Relations section [1] - A webcast replay will be accessible at the same location after the event concludes [1] Group 2 - Sanmina Corporation is a Fortune 500 company and a leading integrated manufacturing solutions provider in the global Electronics Manufacturing Services (EMS) market [2] - The company is recognized as a technology leader, providing end-to-end manufacturing solutions to Original Equipment Manufacturers (OEMs) in various sectors including industrial, medical, defense, aerospace, automotive, communications networks, and cloud infrastructure [2] - Sanmina has strategically located facilities in key regions around the world [2]

Financial Performance - Q2 FY2025 - Net revenue was $6.728 billion, a slight decrease compared to $6.767 billion in the same period last year[4] - U.S GAAP operating income was $245 million, a significant decrease from $1.131 billion in the prior year[4] - Core operating income (non-GAAP) was $334 million, slightly down from $338 million year-over-year[4] - Core diluted earnings per share (non-GAAP) increased to $1.94, compared to $1.68 in the previous year[4] Segment Results - Q2 FY2025 - Regulated Industries net revenue decreased by 8% year-over-year, with a core margin of 4.8%[8] - Intelligent Infrastructure net revenue increased by 18% year-over-year, with a core margin of 5.3%[8] - Connected Living & Digital Commerce net revenue decreased by 13% year-over-year, with a core margin of 4.5%[8] Cash Flow - Q2 FY2025 - Net cash provided by operating activities was $334 million[10] - Adjusted free cash flow (non-GAAP) was $261 million[10] - Share repurchases amounted to $404 million[10] FY25 Outlook - The company anticipates full year net revenue of $27.9 billion[24] - The company anticipates full year core operating margin of 5.4%[24] - The company anticipates full year core EPS of $8.95[24]