SANMINA CORPORATION Reports Third Quarter Fiscal Year 2023 Earnings Results
August 15, 2023
🌥️Earnings Overview
SANMINA CORPORATION ($NASDAQ:SANM) announced their financial results for the third quarter of FY 2023, ending on 30 June 2023, on 31 July 2023. Total revenue for the quarter amounted to $2207.1 million, which is a 9.3% rise compared to the equivalent period in the previous year. Net income for the quarter was $76.5 million, which is a 3.8% decline from last year’s corresponding period.
Price History
SANMINA CORPORATION reported its third quarter fiscal year 2023 earnings results on Monday, with stock opening at $60.1 and closing at $61.5, up by 2.6% from the previous closing price of 59.9. This increase in the stock’s value indicates investor confidence in the company’s performance; however, analysts are still uncertain how SANMINA CORPORATION will perform in the future. SANMINA CORPORATION’s CEO, Joe Tinker, stated that the company’s third quarter results demonstrate the success of their various initiatives related to cost reduction and increased efficiency. He further added that they are excited to continue these efforts in the coming quarters and are confident that their efforts will lead to further growth in revenue and profit.
Overall, the third quarter earnings results of SANMINA CORPORATION exceeded analyst expectations and they have received positive feedback from investors. With further cost-cutting measures and efficiency initiatives, the company is expected to grow in the future. 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
GoodWhale has conducted an analysis of SANMINA CORPORATION‘s fundamentals and from our findings we can conclude that the company has a high health score of 9/10 when considering its cashflows and debt. This indicates that the company is capable to pay off debt and fund future operations. SANMINA CORPORATION is also strong in asset and growth, medium in profitability, and weak in dividend. This classification of ‘cheetah’ suggests that the company has achieved high revenue or earnings growth but be considered less stable due to lower profitability. From this analysis, we can conclude that this type of company may be attractive to investors who are looking for a higher risk-reward ratio due to the potential for higher returns. Investors who are interested in high growth stocks would also find SANMINA CORPORATION attractive due to its high growth rate. However, those who prioritize stability over returns may want to look elsewhere as the company is considered less stable due to its lower profitability. 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
SANMINA CORPORATION reported its earnings results for the third quarter of fiscal year 2023 ending on June 30 2023, on July 31 2023. Total revenue increased by 9.3% compared to the same period of the prior year, while Net Income decreased by 3.8%. Investors may be encouraged by the increased revenue but may be cautious as to why net income decreased. Ultimately, investors should consider a variety of factors when making an investment decision in the company, including the overall financial performance and industry trends.
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