SANMINA CORPORATION Reports Q3 FY2023 Earnings Results for June 30, 2023
August 12, 2023
🌥️Earnings Overview
On July 31 2023, SANMINA CORPORATION ($NASDAQ:SANM) declared its financial outcomes for the Q3 of FY2023, which concluded on June 30 2023. The company reported total revenue of USD 2207.1 million, depicting an incremental growth of 9.3% in comparison to the previous year. However, the net income decreased by 3.8%, amounting to USD 76.5 million relative to the prior year.
Market Price
SANMINA CORPORATION (SNC) reported its Q3 FY2023 earnings results for June 30, 2023 on Monday. The stock opened at $60.1 and closed at $61.5, up by 2.6% from the previous closing price of $59.9. This marks a significant increase in the company’s value over the past quarter.
This indicates that the company is continuing to experience healthy growth in its business. This suggests that the company is investing heavily in its operations in order to maximize long-term returns. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sanmina Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 9.08k | 322.23 | 3.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sanmina Corporation. More…
| Operations | Investing | Financing |
| 240.21 | -202.61 | 125.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sanmina Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.96k | 2.69k | 32.52 |
Key Ratios Snapshot
Some of the financial key ratios for Sanmina Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.2% | 26.6% | 5.0% |
| FCF Margin | ROE | ROA |
| 0.4% | 15.3% | 5.8% |
Analysis
At GoodWhale, we conducted an analysis of SANMINA CORPORATION‘s fundamentals, and from this we were able to draw some conclusions. Our Star Chart classified SANMINA CORPORATION as a ‘cheetah’ type of company, which means it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be interesting to investors who are willing to take on higher risks in return for potentially higher rewards. It is worth noting, however, that SANMINA CORPORATION has a high health score of 9/10, which reflects its ability to maintain cashflows and debt in times of crisis. In addition, we found that SANMINA CORPORATION is strong in asset and growth, medium in profitability, and weak in dividend. More…
Peers
The company’s competitors include TT Electronics PLC, Frencken Group Ltd, and Elma Electronic AG.
– TT Electronics PLC ($LSE:TTG)
TT Electronics is a provider of advanced electronics solutions for the transportation, industrial, aerospace, and defence markets. The company has a market cap of 229M as of 2022 and a return on equity of 3.65%. TT Electronics designs, manufactures, and markets a range of electronic components, modules, and systems. Its products include sensors, actuators, and control systems. The company serves original equipment manufacturers and Tier 1 suppliers in the automotive, aerospace, defence, and industrial markets.
– Frencken Group Ltd ($SGX:E28)
Frencken Group Ltd is a Singapore-based investment holding company that, through its subsidiaries, is engaged in the design, manufacture, assembly and distribution of mechatronic products, and provision of engineering services. The Company’s segments include Mechatronic Products, which includes design, manufacture, assembly and distribution of mechatronic products; and Engineering Services, which includes provision of engineering services.
– Elma Electronic AG ($LTS:0QKS)
Elma Electronic AG is a publicly traded company with a market capitalization of 233.06M as of 2022. The company has a return on equity of 8.95%. Elma Electronic AG is a leading manufacturer of electronic packaging products and solutions. The company’s products are used in a variety of industries, including aerospace, defense, medical, and industrial. Elma Electronic AG’s products are designed to meet the most demanding requirements of its customers.
Summary
Investors are encouraged by the strong top-line growth of SANMINA CORPORATION in the third quarter of FY2023, with total revenue increasing by 9.3% year-over-year. Despite this, net income was down 3.8% compared to the same period last year. Prospective investors should consider the long-term outlook of the company, as well as the competitive landscape within its industry, before investing. The company has recently invested in new technologies and capabilities to expand its market reach, which could lead to further success in the future.
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