Jun 2026 (Q3 FY26) — Jul 27, 2026
Sanmina Q3 FY26 — Strong Performance Driven by AI and Core Business Growth
Read the full callSanmina (SANM) earnings
- Jun 2026
- Jun 2026 (Q3 FY26)
- Sep 2025
Sanmina earnings: last reported Mon, 27 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,464 | +69.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 6.4 | +1.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 117 | +70.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
43 of 49 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly capital expenditures guidance (Q3 FY26) | $95 million | Mar 2026 | Capital expenditures were $100.9 million for the quarter, in line with our outlook | Achieved |
| Combined-company net leverage ratio target | net leverage ratio well within the 1.0x to 2.0x target range at the time the ZT transaction closes | Jun 2025 | As we have previously communicated, our long-term target net leverage range is 1.0x to 2.0x. We still expect our leverage to increase into our long-term range over time as we invest in working capital to support the growth of our business. | At Risk |
| Combined-company revenue target ('double Sanmina') | double Sanmina's net revenue within the next 3 years (implied ~$16 billion) | Jun 2025 | we are more confident than ever in our ability to achieve revenue of $16 billion plus in 2027 | On Track |
6 of SANMINA CORP's 74 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 71 more targets are in the full ledger.
Claimed
- Revenue came in at the high end of outlook at $3.46 billion, up 69.7% year-over-year.
- Non-GAAP operating margin of 8.0% and non-GAAP diluted EPS of $3.31 both exceeded outlook, with EPS up 116.0% year-over-year.
- Core Sanmina business revenue grew 17.0% year-over-year to $2.4 billion, exceeding its outlook with broad-based strength.
- Bookings in Q3 FY26 were strong, with a book-to-bill ratio better than 1.1.
- Secured more customer orders for next-generation accelerated compute, expanding the overall customer base.
Qualified
- ZT Systems Q4 FY26 revenue guidance is lower than implied due to variability in legacy programs, ranging from $0.8 billion to $1.0 billion.
- Working capital is expected to build in advance of business growth, which will impact cash flow from operations.
- Inventory turns decreased to 5.6x from 6.3x in the prior year period, driven by the ZT Systems acquisition.
- Component shortages continue to constrain core Sanmina's ability to fully meet demand.
Price
$188.74 −2.87% · −$5.58
Performance +50.4% 1Y
1Y: $125.51 on 14 Oct 2025 → $188.74. High $282.72 (3 Jun 2026), low $122.86 (20 Mar 2026).
- Previous close
- $194.32
- 52-week range
- $122.86 – $282.72
- One year
- +43.05%
Overview
- Symbol
- SANM
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
43 of 49 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly capital expenditures guidance (Q3 FY26) | $95 million | Mar 2026 | Capital expenditures were $100.9 million for the quarter, in line with our outlook | Achieved |
| Combined-company net leverage ratio target | net leverage ratio well within the 1.0x to 2.0x target range at the time the ZT transaction closes | Jun 2025 | As we have previously communicated, our long-term target net leverage range is 1.0x to 2.0x. We still expect our leverage to increase into our long-term range over time as we invest in working capital to support the growth of our business. | At Risk |
| Combined-company revenue target ('double Sanmina') | double Sanmina's net revenue within the next 3 years (implied ~$16 billion) | Jun 2025 | we are more confident than ever in our ability to achieve revenue of $16 billion plus in 2027 | On Track |
Claimed
- Revenue came in at the high end of outlook at $3.46 billion, up 69.7% year-over-year.
- Non-GAAP operating margin of 8.0% and non-GAAP diluted EPS of $3.31 both exceeded outlook, with EPS up 116.0% year-over-year.
- Core Sanmina business revenue grew 17.0% year-over-year to $2.4 billion, exceeding its outlook with broad-based strength.
- Bookings in Q3 FY26 were strong, with a book-to-bill ratio better than 1.1.
- Secured more customer orders for next-generation accelerated compute, expanding the overall customer base.
Qualified
- ZT Systems Q4 FY26 revenue guidance is lower than implied due to variability in legacy programs, ranging from $0.8 billion to $1.0 billion.
- Working capital is expected to build in advance of business growth, which will impact cash flow from operations.
- Inventory turns decreased to 5.6x from 6.3x in the prior year period, driven by the ZT Systems acquisition.
- Component shortages continue to constrain core Sanmina's ability to fully meet demand.
The full ledger
Open SANMINA CORP’s full ledger
A free account opens 5 company ledgers a month. All 74 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q2 FY26) — Apr 27, 2026
Sanmina Q2 FY26 — Strong ZT Systems Performance Drives Revenue Beat
Read the full callEvery analysed call
Sanmina earnings calls (SANM)
Financials
What the filings say
Net profit, year on year: +71% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,018 | 2,006 | 1,984 | 2,042 | 2,096 | 3,190 | 4,013 | 3,464 |
| Operating profit | 90 | 89 | 92 | 96 | 78 | 74 | 157 | 221 |
| Operating margin | 4.4% | 4.4% | 4.6% | 4.7% | 3.7% | 2.3% | 3.9% | 6.4% |
| Other income | -3 | -2 | -3 | -4 | -5 | -12 | -26 | -29 |
| Interest | 5 | 5 | 5 | 5 | 5 | 25 | 32 | 32 |
| Profit before tax | 87 | 86 | 88 | 91 | 73 | 62 | 131 | 192 |
| Tax rate | 22.4% | 17.8% | 20.2% | 20.3% | 29.1% | 16.0% | 25.4% | 34.6% |
| Net profit | 61 | 65 | 64 | 69 | 48 | 49 | 94 | 117 |
| EPS ($ per share) | — | 1.20 | 1.18 | 1.28 | — | 0.91 | 1.72 | 2.17 |
| Line item | Sep 2018 | Sep 2019 | Oct 2020 | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | -4,033 | -3,863 | -3,723 | -3,480 | -3,240 | -2,930 | -2,707 | -2,462 |
| Total liabilities | 2,612 | 2,258 | 2,149 | 2,351 | 3,016 | 2,555 | 2,461 | 3,319 |
| Fixed assets | 643 | 631 | 559 | 533 | 575 | 633 | 616 | 682 |
| Total assets | 4,085 | 3,906 | 3,773 | 4,204 | 4,836 | 4,874 | 4,823 | 5,858 |
| Line item | Sep 2018 | Sep 2019 | Oct 2020 | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 156 | 383 | 301 | 338 | 331 | 235 | 340 | 621 |
| Cash from investing | -116 | -128 | -64 | -91 | -132 | -192 | -114 | -108 |
| Cash from financing | -28 | -220 | -210 | -77 | -314 | 95 | -270 | -174 |
| Net cash flow | 13 | 35 | 26 | 170 | -120 | 138 | -42 | 340 |
| Capital expenditure | -119 | -135 | -66 | -73 | -139 | -191 | -111 | -147 |
| Free cash flow | 38 | 248 | 235 | 265 | 192 | 44 | 229 | 473 |
SANM revenue by segment
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| IMS Third Party Revenue | 80% | 80% | 80% | 80% | 80% | 87% | — | 85% | +79.8% |
| Other Segments CPS | — | — | — | — | — | 14% | 11% | 16% | — |
| CPS Third Party Revenue | 20% | 20% | 20% | 20% | 20% | 13% | — | 15% | +28.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q3 FY2026 · share of revenue
- Americas 69% ↑ 17 pt
- Asia Pacific 21% ↓ 14 pt
- EMEA 10% ↓ 3 pt
As SANM cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
51 filings between Nov 6, 2025 and Sep 17, 2026.
Open market
decisions to buy or sellPurchases
$99.7K
1 purchase by 1 insider
Sales
$43.05M
20 sales by 9 insiders
35% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 15
- Award — granted as compensation
- 14
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| SOLA JURE | — | $27.09M | May 6, 2026 |
| Licata Joseph G Jr | — | $5.61M | Apr 29, 2026 |
| Faust Jonathan P | — | $4.28M | May 29, 2026 |
| REID ALAN McWILLIAMS | — | $2.72M | May 26, 2026 |
| Mason Charlie | — | $1.94M | Feb 5, 2026 |
| Venkatesh Vishnu | — | $587.4K | Apr 30, 2026 |
| Sankaran Mythili | — | $499.7K | Feb 19, 2026 |
| Hedley David V III | — | $276.0K | May 1, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 17, 2026 | Johnson Susan A Director | Sale 10b5-1 plan | 120 | $24.1K |
| Aug 28, 2026 | Johnson Susan A Director | Sale 10b5-1 plan | 120 | $24.3K |
| May 29, 2026 | Faust Jonathan P EVP & CFO | Sale 10b5-1 plan | 5,038 | $1.34M |
| May 29, 2026 | Faust Jonathan P EVP & CFO | Sale 10b5-1 plan | 5,038 | $1.34M |
| May 26, 2026 | REID ALAN McWILLIAMS EVP, Global Human Resources | Sale 10b5-1 plan | 5,000 | $1.27M |
| May 8, 2026 | REID ALAN McWILLIAMS EVP, Global Human Resources | Sale | 1,000 | $248.6K |
| May 6, 2026 | SOLA JURE Chairman & CEO | Sale | 118,368 | $27.09M |
| May 4, 2026 | REID ALAN McWILLIAMS EVP, Global Human Resources | Sale | 1,000 | $225.0K |
| May 1, 2026 | Hedley David V III Director | Sale | 500 | $109.8K |
| May 1, 2026 | REID ALAN McWILLIAMS EVP, Global Human Resources | Sale | 1,000 | $218.2K |
| Apr 30, 2026 | Venkatesh Vishnu See Remarks | Sale 10b5-1 plan | 2,275 | $484.1K |
| Apr 29, 2026 | Licata Joseph G Jr Director | Sale | 10,036 | $2.08M |
| Apr 29, 2026 | Licata Joseph G Jr Director | Sale | 16,529 | $3.52M |
| Apr 15, 2026 | Venkatesh Vishnu See Remarks | Tax withheld | 2,725 | $420.5K |
| Mar 16, 2026 | Sankaran Mythili Director | Award | 1,536 | $190.0K |
| Mar 16, 2026 | Johnson Susan A Director | Award | 1,536 | $190.0K |
| Mar 16, 2026 | PRABHU KRISH A Director | Award | 1,536 | $190.0K |
| Mar 16, 2026 | Loparco Michael J Director | Award | 1,536 | $190.0K |
| Mar 16, 2026 | Loparco Michael J Director | Award | 768 | $95.0K |
| Mar 16, 2026 | Licata Joseph G Jr Director | Award | 1,536 | $190.0K |
| Mar 16, 2026 | Hedley David V III Director | Award | 1,536 | $190.0K |
| Mar 16, 2026 | BARNES SUSAN K Director | Award | 1,536 | $190.0K |
| Feb 26, 2026 | REID ALAN McWILLIAMS EVP, Global Human Resources | Sale | 1,500 | $241.0K |
| Feb 24, 2026 | Faust Jonathan P EVP & CFO | Sale | 10,075 | $1.60M |
| Feb 24, 2026 | Hedley David V III Director | Sale | 1,024 | $166.2K |
| Feb 19, 2026 | Sankaran Mythili Director | Sale | 3,424 | $499.7K |
| Feb 13, 2026 | REID ALAN McWILLIAMS EVP, Global Human Resources | Sale | 3,500 | $519.6K |
| Feb 5, 2026 | Mason Charlie EVP & Global Sales | Sale | 13,150 | $1.94M |
| Jan 30, 2026 | Loparco Michael J Director | Purchase | 700 | $99.7K |
| Jan 16, 2026 | Faust Jonathan P EVP & CFO | Tax withheld | 10,845 | $1.92M |
| Dec 17, 2025 | Venkatesh Vishnu See Remarks | Sale 10b5-1 plan | 692 | $103.3K |
| Dec 16, 2025 | Venkatesh Vishnu See Remarks | Tax withheld | 808 | $118.6K |
| Dec 16, 2025 | Faust Jonathan P EVP & CFO | Tax withheld | 2,154 | $316.3K |
| Dec 16, 2025 | Mason Charlie EVP & Global Sales | Tax withheld | 1,694 | $248.7K |
| Dec 16, 2025 | REID ALAN McWILLIAMS EVP, Global Human Resources | Tax withheld | 1,524 | $223.8K |
| Dec 15, 2025 | REID ALAN McWILLIAMS EVP, Global Human Resources | Tax withheld | 5,485 | $867.6K |
| Dec 15, 2025 | SOLA JURE Chairman & CEO | Tax withheld | 16,927 | $2.68M |
| Dec 15, 2025 | SOLA JURE Chairman & CEO | Award | 162,000 | $25.62M |
| Dec 15, 2025 | SOLA JURE Chairman & CEO | Tax withheld | 81,354 | $12.87M |
| Dec 15, 2025 | REID ALAN McWILLIAMS EVP, Global Human Resources | Award | 7,000 | $1.11M |
| Dec 15, 2025 | REID ALAN McWILLIAMS EVP, Global Human Resources | Tax withheld | 1,524 | $241.1K |
| Dec 15, 2025 | REID ALAN McWILLIAMS EVP, Global Human Resources | Tax withheld | 2,286 | $361.6K |
| Dec 15, 2025 | REID ALAN McWILLIAMS EVP, Global Human Resources | Award | 10,800 | $1.71M |
| Dec 15, 2025 | Mason Charlie EVP & Global Sales | Award | 7,000 | $1.11M |
| Dec 15, 2025 | Mason Charlie EVP & Global Sales | Tax withheld | 1,074 | $169.9K |
| Dec 15, 2025 | Mason Charlie EVP & Global Sales | Tax withheld | 2,793 | $441.8K |
| Dec 15, 2025 | Mason Charlie EVP & Global Sales | Award | 12,960 | $2.05M |
| Dec 15, 2025 | Mason Charlie EVP & Global Sales | Tax withheld | 6,083 | $962.1K |
| Dec 15, 2025 | Faust Jonathan P EVP & CFO | Award | 15,000 | $2.37M |
| Dec 15, 2025 | Venkatesh Vishnu See Remarks | Award | 4,000 | $632.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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