Companies /Technology
Sanmina Corp
NASDAQ: SANM Electronic Components
$175.67
▼ $13.07 (−6.92%) today
Markets closed · 5:42pm ET

Sanmina (SANM) Q3 2025 Earnings

Reported Jul 28, 2025, 4:13pm ET · SEC source
$1.53
Beat +8.13%
EPS · est. $1.42
$2.0B
Beat +3.12%
Revenue · est. $2.0B
−3.3%
Trailing market
SANM vs S&P since report
5 quarters
Consecutive EPS beats

How Did SANM Stock React to Q3 2025 Earnings?

% change · around the report
0+9%+18%+27%Jul 28Jul 29report 4:13pm ETearnings−0.3%+27.7%
0+9%+18%+27%Jul 28Jul 29earnings−0.3%+27.7%
SANM +27.7%S&P 500 −0.3%
0+9%+18%+27%Jul 28Jul 29report 4:13pm ETearnings−0.2%+27.7%
0+9%+18%+27%Jul 28Jul 29earnings−0.2%+27.7%
SANM +27.7%NASDAQ −0.2%
0+10%+20%+30%Jul 28Aug 5report 4:13pm ETearnings−1.4%+24.5%
0+10%+20%+30%Jul 28Aug 5earnings−1.4%+24.5%
SANM +24.5%S&P 500 −1.4%
0+10%+20%+30%Jul 28Aug 5report 4:13pm ETearnings−1.7%+24.5%
0+10%+20%+30%Jul 28Aug 5earnings−1.7%+24.5%
SANM +24.5%NASDAQ −1.7%
+22.79%
Day of report
−4.02%
Next session
−3.07%
One week
−1.15%
30 days

S&P 500 over the same 30 days: +2.15%.

Did SANM Beat Earnings? Q3 2025 Results

Yes. Sanmina reported Q3 2025 earnings of $1.53 a share on Jul 28, 2025, beating the $1.42 consensus estimate by 8.1%. Revenue was $2.0B against a $2.0B estimate.

Sanmina posted a decisive beat across the board in its fiscal third quarter of 2025, with revenue of $2.04 billion topping the $1.98 billion consensus by 3.12% and climbing 10.9% year over year, while non-GAAP diluted EPS of $1.53 cleared the $1.42 analyst estimate by 8.13%. The company credited focused execution and a favorable business mix for driving margin expansion, with non-GAAP operating margin widening to 5.7% from 5.3% a year ago. Cash generation stood out as a particular highlight, with free cash flow of $168.18 million more than doubling the $67.23 million recorded in the year-ago quarter, lifting the cash balance to $797.88 million. The quarter also carried a new acquisition and integration cost line of $7.08 million, suggesting a strategic transaction may be underway. Looking ahead, management guided fiscal Q4 revenue of $2.00 billion to $2.10 billion and non-GAAP EPS of $1.52 to $1.62, expressing confidence that a growing customer base and new program wins would sustain the momentum into fiscal 2026.

Key Takeaways
  • Operational efficiencies and favorable business mix driving margin expansion
  • Non-GAAP operating margin expanded to 5.7% from 5.3% year-over-year
  • Robust cash generation with free cash flow of $168 million
  • Revenue, non-GAAP gross margin, and non-GAAP diluted EPS exceeded company outlook
  • Significant working capital improvement of $84.3 million during the quarter

“Our focused execution and operating discipline yielded solid third quarter financial results. Revenue, non-GAAP gross margin, and non-GAAP diluted earnings per share exceeded our outlook. We continue to benefit from operational efficiencies and a favorable business mix as reflected in our healthy operating margin and robust cash generation.”

Sanmina CEO, on the earnings call

What Was Sanmina's Outlook in Q3 2025?

For Q4 FY25 (quarter ending September 27, 2025), Sanmina expects revenue between $2.0 billion and $2.1 billion, GAAP diluted EPS between $1.21 and $1.31, and non-GAAP diluted EPS between $1.52 and $1.62. Management expressed confidence in delivering solid fourth quarter and fiscal year results with momentum continuing into fiscal 2026, driven by a growing customer base and pipeline of new program wins.

SANM YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$600.0M$1.2B$1.8B$1.8B$2.0BRevenue$153.5M$181.1MGross Profit$82.4M$95.9MOperating Income$51.6M$68.6MNet Income
$0$600.0M$1.2B$1.8BRevenueGross ProfitOperating IncomeNet Income
SANM income statement, Q3 2025 versus Q3 2024
Metric Q3 2025 Q3 2024 Year over year
Revenue $2.0B $1.8B +10.9%
Gross Profit $181.1M $153.5M +17.9%
Operating Income $95.9M $82.4M +16.4%
Net Income $68.6M $51.6M +33.0%

Figures from SEC filings and company reports. Not investment advice.