Q2 2026 Sanmina Corp Earnings Call Transcript

Apr 27, 2026 / 09:00PM GMT

Release Date Price: $188.08 (-2.12%)

Transcript 10-Q8-K

Key Points

Positve

Sanmina Corp (SANM) reported strong second-quarter results with revenue of $4.01 billion, exceeding expectations.
The company achieved a non-GAAP operating margin of 6.4% and a non-GAAP diluted EPS of $3.16, both surpassing outlook.
Cash flow from operations was robust at $399 million, showcasing effective working capital management.
Sanmina Corp (SANM) has a strong balance sheet with $1.58 billion in cash and no outstanding borrowings on its $1.5 billion revolver.
The ZT Systems business performed well, contributing $1.88 billion in revenue, indicating successful integration and customer demand.

Negative

Component shortages, particularly in memory and custom ASICs, are impacting the timing of revenue and profitability.
The CPS segment experienced a decline in non-GAAP gross margin by 230 basis points due to depreciation and other expenses.
ZT Systems revenue is expected to decrease in the third quarter due to accelerated compute orders being pulled into the second quarter.
The company faces ongoing market uncertainties stemming from macroeconomic and geopolitical factors.
Sanmina Corp (SANM) anticipates continued material shortages throughout the year, which could affect future operations.

Operator

Good afternoon, ladies and gentlemen, and welcome to the Sanmina second quarter fiscal 2026 earnings conference call. (Operator Instructions) This call is being recorded on Monday, April 27, 2026.

I would now like to turn the conference over to Paige Melching, Senior Vice President of Investor Communications. Please go ahead

Paige Melching

Sanmina Corp - Senior Vice President - Investor Communications

Thank you, John. Good afternoon, ladies and gentlemen, and welcome to Sanmina's Second Quarter Fiscal 2026 Earnings Call. A copy of our press release and slides for today's discussion are all 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.

Jure Sola

Sanmina Corp - Chairman of the Board, Chief Executive Officer

Good afternoon.

Paige Melching

Sanmina Corp - Senior Vice President - Investor Communications

And Jon Faust, Executive Vice President and Chief

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