SANMINA CORPORATION Reports Third Quarter FY2023 Earnings Results on July 31, 2023
August 14, 2023
🌥️Earnings Overview
On July 31, 2023, SANMINA CORPORATION ($NASDAQ:SANM) reported its financial results for the third quarter of the fiscal year 2023 (ending June 30, 2023). Total revenue showed an increase of 9.3% compared to the previous year’s quarter, reaching USD 2207.1 million. Unfortunately, net income experienced a 3.8% decline compared to the same period of the previous year, amounting to USD 76.5 million.
Price History
On Monday, the company’s stock opened at $60.1 and closed at $61.5, up by 2.6% from the prior closing price of $59.9 per share. This increase in stock price is a result of the strong financial performance of the company in its third quarter. The strong earnings results of SANMINA CORPORATION demonstrate the company’s success in delivering innovative products and services to its customers and shareholders.
The company has also been able to strategically manage its costs in order to remain profitable despite the difficult market conditions. Overall, with the increasing demand for its products and services, SANMINA CORPORATION is well-positioned to continue delivering strong financial results in the coming quarters. 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 conducted an in-depth analysis of SANMINA CORPORATION and, based on our Risk Rating, we believe it is a low risk investment. We examined the company’s financial and business aspects to come to this conclusion. However, our review did uncover one risk warning from an income sheet. We believe it is worth further examination and invite you to register with us to explore the detail. With our reliable insights, you can take full advantage of the potential and opportunities that SANMINA CORPORATION offers. 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 released its fiscal third quarter (ending June 30, 2023) earnings report for FY2023 on July 31, 2023. Total revenue for the quarter increased by 9.3% year over year to USD 2207.1 million, however net income decreased by 3.8%. From an investment perspective, the company posted mixed results, showing an increase in revenue but a decrease in net income. Investors should analyze the company’s performance in other areas, such as cash flow, operating margin, and return on equity, to make a more informed decision when considering whether to invest in SANMINA CORPORATION.
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