Sanmina Earnings Call Transcripts
Fiscal Year 2026
-
Q2 revenue surged 102% year-over-year to $4.01B, driven by ZT Systems and strong demand in cloud and AI infrastructure. Non-GAAP EPS rose 125% to $3.16, with robust cash flow and a positive outlook for FY26 and FY27. Guidance reflects continued growth and margin expansion.
-
The meeting covered director elections, auditor ratification, executive compensation, and equity plan approvals, with all company proposals passing and a shareholder proposal for an independent chairman failing. Shareholder concerns about governance and board responsiveness were discussed.
-
Revenue surged 59% year-over-year to $3.19 billion, driven by strong growth in communications, cloud, and AI infrastructure, and the ZT Systems acquisition. Non-GAAP EPS rose 66% to $2.38, with robust cash flow and a positive outlook for fiscal 2026 and beyond.
Fiscal Year 2025
-
The acquisition of ZT Systems has transformed the company into a North American leader in AI manufacturing, with a focus on high-value, complex solutions and strong customer relationships. Operating margins are targeted at 6%-7%, and the business aims to double in size within two years, driven by growth in AI and data center markets.
-
A diversified manufacturer is expanding into cloud and AI infrastructure through the acquisition of ZT Systems, boosting combined revenue to $14 billion and EBITDA to $1 billion. The company targets 6-7% operating margins, maintains strong liquidity, and aims for investment-grade ratings as it pursues profitable growth.
-
Fiscal 2025 saw 7.4% revenue growth and 14.4% EPS growth, with strong cash flow and margin expansion. The ZT Systems acquisition positions the company for accelerated growth in cloud and AI, with Q1 2026 guidance reflecting a 52% revenue increase year-over-year.
-
Q3 FY25 revenue grew 10.9% year-over-year to $2.04 billion, with non-GAAP EPS of $1.53, both exceeding outlook. The ZT Systems acquisition is on track, expected to double net revenue within three years and drive further growth in data center AI infrastructure.
-
Outsourcing trends are favorable, with strong growth in communication networks and cloud infrastructure. The company is expanding in India, investing in U.S. capacity, and acquiring ZT Systems to double its size. Fiscal 2025 targets high single-digit revenue growth and margin expansion.
-
The acquisition of ZT Systems' data center manufacturing business for up to $3 billion strengthens the company's position in cloud and AI infrastructure, doubles revenue within three years, and establishes a strategic partnership with AMD. The deal is expected to be accretive to non-GAAP EPS in the first year and deliver significant synergies and margin expansion.
-
Q2 FY25 revenue grew 8.1% year-over-year to $1.98B, with non-GAAP EPS of $1.41 and strong cash flow. Communication networks and cloud infrastructure led growth, and full-year revenue is expected to rise 6–8% despite tariff and geopolitical uncertainties.
-
Q1 FY25 saw 7% revenue growth to $2.01B and non-GAAP EPS of $1.44, driven by strong cloud and communications segments. Guidance for Q2 and FY25 points to continued high single-digit growth, margin expansion, and robust cash flow, with a new $300M share repurchase authorization.
Fiscal Year 2024
-
Q4 revenue and EPS exceeded guidance, with strong sequential growth and margin stability. FY24 was a transition year, but momentum is building for FY25, with high single-digit revenue growth expected and margin expansion targeted. AI and cloud remain key growth drivers.
-
Third quarter revenue was $1.84 billion, with strong growth in communications and cloud infrastructure offsetting softness in automotive and industrial. Q4 guidance points to sequential growth, and fiscal 2025 is expected to be a growth year as inventory headwinds ease.
-
Outsourcing trends remain strong across key sectors, with communications and cloud making up a significant share of revenue. The India JV is expanding, and the company is investing in high-tech products for cloud, AI, and industrial markets. Margins are stable, with growth and vertical integration expected to drive future profitability.