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Sanmina Corporation, a leading integrated manufacturing solutions company, reported financial results for the fiscal third quarter ended July 2, 2022 and outlook for its fiscal fourth quarter ending October 1, 2022.
Third Quarter Fiscal 2022 Financial Highlights
- Revenue: $2.02 billion
- GAAP operating margin: 4.7%
- GAAP diluted EPS: $1.29
- Non-GAAP(1) operating margin: 5.5%
- Non-GAAP diluted EPS: $1.30
Additional Third Quarter Highlights
- Cash flow from operations: $102 million
- Free cash flow: $65 million
- Share repurchases: 3.1 million for approximately $124 million
- Ending cash and cash equivalents: $493 million
- Non-GAAP pre-tax ROIC: 31.6%
"I am pleased with our strong results for the third fiscal quarter. Revenue was up 5.6 percent sequentially and non-GAAP earnings per share increased 14.4 percent. Revenue exceeded our outlook driven by strong demand from all our end-markets coupled with the excellent job our team did to secure supply. Solid execution, favorable mix and operating leverage contributed to our strong non-GAAP operating margin of 5.5 percent for the quarter," stated Jure Sola, Chairman and Chief Executive Officer. "I am pleased with our continued operational and financial execution which further strengthens our value proposition to our customers and shareholders."
"As we look to our fourth quarter we continue to see strong demand from our customers. Based on our fourth quarter outlook, we expect fiscal year 2022 revenue growth of approximately 14 percent," concluded Sola.
Fourth Quarter Fiscal 2022 Outlook
The following outlook is for the fiscal fourth quarter ending October 1, 2022. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.95 billion to $2.05 billion
- GAAP diluted earnings per share between $1.09 to $1.19
- Non-GAAP diluted earnings per share between $1.27 to $1.37