In section Market Quotes
Sanmina shares climbed 20% to $180.47 in after-hours trading Monday after the electronics manufacturer issued fiscal 2027 revenue and earnings forecasts above Wall Street estimates. Chief Executive Jure Sola said demand is expected to remain strong, driven by the company’s position in cloud and AI infrastructure.
Sanmina forecast fiscal 2027 revenue of $17.50 billion to $19.50 billion, compared with analysts’ consensus of $16.61 billion, according to FactSet. It projected adjusted earnings per share of $15.50 to $17.50, ahead of estimates of $14.07.
For the current fiscal first quarter, the company expects revenue of $3.8 billion to $4.1 billion and adjusted earnings per share of $3.50 to $3.85. Analysts had forecast revenue of $3.42 billion and adjusted earnings of $2.82 a share.
The outlook followed a strong fiscal fourth quarter. Revenue rose 84% to $3.86 billion, while profit increased to $118 million, or $2.14 a share, from $48.1 million, or 88 cents a share, a year earlier. Despite Monday’s after-hours gain, Sanmina shares were down 26% over the three months through the regular-session close.
Comments (0)
No comments yet. Be the first!