SAN JOSE, California - Sanmina Corporation (NASDAQ:SANM) reported fourth-quarter earnings that surpassed analyst expectations, with revenue growth across most end markets. However, the company's guidance for the first quarter of fiscal 2025 fell short of analyst estimates on earnings.
Sanmina posted adjusted earnings per share of $1.43 for the fourth quarter, beating the analyst consensus of $1.38. Revenue came in at $2.02 billion, above the expected $1.96 billion and up 9.6% sequentially.
For the first quarter of fiscal 2025, Sanmina forecasts revenue between $1.925 billion and $2.025 billion, with the midpoint of $1.975 billion aligning with the analyst consensus of $2 billion. However, the company's adjusted EPS guidance of $1.30 to $1.40 falls below the analyst estimate of $1.44.
Jure Sola, Chairman and CEO of Sanmina, commented on the results: "We finished the year with solid momentum. Our fourth quarter revenue was up 9.6 percent sequentially, and non-GAAP diluted earnings per share was up 14.3 percent over the prior quarter and exceeded our outlook."
Sola added that the company saw growth in the majority of its end markets, particularly in communications networks and cloud infrastructure. He also noted that fiscal 2024 results were in line with expectations, despite challenges in the first half of the year.
Looking ahead, Sola expressed optimism for fiscal 2025, stating, "Based on the forecasts from our customers and currently healthy demand levels, we expect fiscal 2025 to be a growth year."
During fiscal 2024, Sanmina repurchased 4 million shares for $227 million, demonstrating its commitment to returning value to shareholders.
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