Sanmina (SANM) Misses Q2 EPS by 23c; Guides Below Views

Sanmina (NASDAQ: SANM) reported Q2 EPS of $0.32, $0.23 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $1.59 billion versus the consensus estimate of $1.62 billion.

"These are unprecedented times and I am grateful to our employees for their strength and commitment to Sanmina and our customers, many of whom are providing essential products during this crisis. I am most impressed by how well our leadership team responded to these new challenges as we continue to navigate the evolving situation on the global supply chain. The health and safety of our employees is our top priority and we continue to take precautionary measures," stated Hartmut Liebel, Chief Executive Officer. "While the financial results for our second fiscal quarter were influenced significantly by COVID-19, I am pleased to report we were still able to generate $119 million of free cash flow and maintain a strong balance sheet with over $1.1 billion in cash."

GUIDANCE:

Sanmina sees Q3 2020 EPS of $0.30-$0.40, versus the consensus of $0.53. Sanmina sees Q3 2020 revenue of $1.5-1.6 billion, versus the consensus of $1.54 billion.

For earnings history and earnings-related data on Sanmina (SANM) click here.

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