SANMINA CORPORATION Reports Third Quarter FY2023 Earnings Results on July 31
August 25, 2023
🌥️Earnings Overview
For the three months ending June 30 2023, SANMINA CORPORATION ($NASDAQ:SANM) reported total revenue of USD 2207.1 million, representing an increase of 9.3% compared to the same period in the previous year. However, net income decreased by 3.8%, coming in at USD 76.5 million. The results were released on July 31 2023.
Share Price
SANMINA CORPORATION reported its third quarter earnings results on Monday, July 31. The company’s stock opened at $60.1 and closed at $61.5, up 2.6% from the last closing price of $59.9. This marks a positive albeit modest gain for the reputable electronics manufacturing services company. Overall, the third quarter earnings results appear to have been a success for SANMINA CORPORATION, with its stock rising in spite of the recent volatility of the market. Investors have expressed confidence in the company, with many analysts predicting further gains in the near future. SANMINA CORPORATION’s strong financial performance and robust portfolio of products and services have led to a consistently strong investor base.
SANMINA CORPORATION has been a reliable partner with some of the largest technology companies in the world for nearly four decades. With a presence in some of the world’s most advanced markets, including the United States, Europe, and Asia, the company is well-positioned to capitalize on future growth opportunities and remain a leader in its sector. The third quarter earnings report reflects the company’s continued commitment to delivering high-quality products and services. With a focus on providing customers with innovative solutions, SANMINA CORPORATION will continue to strive towards financial success and market presence. 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 recently analyzed SANMINA CORPORATION‘s financials and came up with some interesting insights. Our star chart shows that SANMINA CORPORATION is strong in asset, growth, medium in profitability and weak in dividend. The company has a high health score of 9/10 considering its cashflows and debt, which indicates that it is capable to sustain future operations in times of crisis. Furthermore, the company was classified as a ‘cheetah’ according to our analysis which means that it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Considering these factors, investors seeking quick returns or those with a higher risk appetite may find SANMINA CORPORATION an attractive investment opportunity. Investors looking for a steady and sustainable source of income should not consider this company since it is weak in dividend payments. As such, investors interested in the growth opportunities offered by SANMINA CORPORATION should be prepared to take on higher levels of risk. 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 should take note of SANMINA CORPORATION‘s third quarter results for FY2023, ending June 30 2023. Total revenue grew by 9.3% year over year to USD 2207.1 million. Net income, however, decreased by 3.8% to USD 76.5 million.
This suggests that the company is growing in terms of overall revenue, but is facing some challenges with profits. Investors should monitor SANMINA CORPORATION’s future performance for further insight into their operations and assess if it is a good opportunity for investment.
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