Q2 2025 Sanmina Corp Earnings Call Transcript
Key Points
- Sanmina Corp (SANM) delivered solid revenue of $1.98 billion for the second quarter, up 8.1% compared to the same period a year ago.
- Non-GAAP EPS exceeded expectations at $1.41 per share, reflecting strong financial performance.
- The company maintained a strong balance sheet with cash and cash equivalents of $647 million and no outstanding borrowings on its $800 million revolver.
- Sanmina Corp (SANM) reported a non-GAAP operating margin of 5.6%, which is towards the high end of their outlook.
- The company is making strategic investments in capacity and technology across the US, India, and Mexico to support future growth.
- There is considerable uncertainty around tariffs, which could impact customer demand and the company's operations.
- Operating expenses were above outlook due to targeted investments, which could pressure margins if not managed carefully.
- The automotive market remains challenging, although there was double-digit growth in this segment year over year.
- Inventory levels increased by 9% sequentially, which could impact cash flow if not managed effectively.
- A major program was pushed out for redesign, which could affect short-term revenue growth.
Good afternoon, ladies and gentlemen, and welcome to Sanmina's second-quarter fiscal 2025 earnings conference call. (Operator Instructions) This call is being recorded on Monday, April 28, 2025.
I would now like to turn the conference over to Paige Melching, Senior Vice President of Investor Communications, please go ahead.
Thank you, Constantine. Good afternoon, ladies and gentlemen, and welcome to Sanmina's second-quarter fiscal year 2025 earnings call. A copy of our press release and slide for today's discussion are available on our website at sanmina.com in the Investor Relations section.
Joining me on today's call is Jure Sola, Chairman and Chief Executive Officer.
Good afternoon.
And Jon Faust, Executive Vice President
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