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Jan 02, 2021
Sanmina Q1 2021 Earnings Report
Sanmina reported solid financial results due to focus on operational efficiencies and ability to provide increased value to customers.
Key Takeaways
Sanmina reported first quarter fiscal 2021 financial results with revenue exceeding the midpoint of outlook, GAAP operating margin of 4.3 percent, GAAP diluted EPS of $0.72, Non-GAAP operating margin of 5.0 percent, Non-GAAP diluted EPS of $1.02, Non-GAAP pre-tax ROIC of 28.4 percent, cash flow from operations of $62 million, free cash flow of $51 million, and ending cash and cash equivalents of $516 million.
Revenue exceeded midpoint of outlook at $1.76 billion
GAAP operating margin was 4.3 percent
GAAP diluted EPS was $0.72
Non-GAAP diluted EPS exceeded outlook at $1.02
Sanmina
Sanmina
Forward Guidance
The outlook for the second quarter reflects relatively stable demand across the customer base and takes into account typical seasonality.
Challenges Ahead
- The ongoing impacts of the COVID-19 pandemic have reduced demand from customers.
- COVID-19 caused supply chain interruptions.
- COVID-19 created health risks for employees.
- COVID-19 could result in restrictions on where products can be built.
- COVID-19 could impact the levels of staffing at plants and the types of products that can be built for customers.