Sanmina (SANM) reported its Q2 results, with EPS of $1.59 coming in better than the consensus estimate of $1.55. Revenue was $2.32 billion, beating the consensus of $2.25B.
"We delivered strong top and bottom line results for the second quarter reflecting continued improvement in the supply chain environment coupled with excellent operational execution by our team to support customer demand,” said CEO Jure Sola.
For Q3/23, the company expects EPS in the range of $1.50-$1.60, compared to the consensus of $1.55. Revenue is seen at $2.2-2.3B, compared to the consensus of $2.23B.
Furthermore, the company announced a repurchase of up to an additional $200 million of its common stock. As of April 1, 2023 approximately $164M remained available under a previously authorized program.