Q1 2026 Sanmina Corp Earnings Call Transcript

Jan 26, 2026 / 10:00 PM GMT

Release Date Price: $182.54 (+2.65%)

Transcript 10-Q8-K

Key Points

Positve

Sanmina Corp (SANM) reported strong financial performance for Q1 2026, with revenue of $3.19 billion, a 59% increase compared to the same period last year.
The company's non-GAAP operating margin was 6.0%, which is at the high end of their outlook, indicating strong operational efficiency.
Non-GAAP diluted earnings per share exceeded expectations at $2.38, representing a 66.1% increase from the previous year.
Sanmina Corp (SANM) maintained a strong balance sheet with cash and cash equivalents of $1.42 billion and no outstanding borrowings on their $1.5 billion revolver.
The acquisition of ZT Systems is immediately accretive to earnings per share and aligns with Sanmina Corp (SANM)'s core business, contributing to revenue growth and margin expansion.

Negative

The CPS segment's non-GAAP gross margin was 12.9%, which is lower than recent performance due to investments in new programs and program transitions.
Inventory turns decreased to 5.3 times from 5.8 times a year ago, impacted by the ZT Systems acquisition, indicating potential inefficiencies in inventory management.
The automotive and transportation segment experienced weakness, although it is expected to stabilize in the short term.
The company faces ongoing market uncertainties stemming from tariffs and the geopolitical landscape, which could impact future performance.
Sanmina Corp (SANM) anticipates a net expense of approximately $26 million in other income and expense due to a new debt structure, which could affect profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SANM.OQ - Sanmina Corp
Q1 2026 Sanmina Corp Earnings Call
Jan 26, 2026 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon ladies and gentlemen, and welcome to Sanmina's 1st quarter fiscal 2026 earnings conference call.

At this time, all lines are in listen-only mode.

Following the presentation, we will conduct a question-and-answer session.

If at any time during this call you require immediate assistance, please press 0 for the operator.

This call is being recorded on Monday, January 20th, 2026. I would now like to turn the conference over to Paige Melching, SVP of Investor communications. Please go ahead.

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Unidentified_2 [2]
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Thanks,

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