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Mar 28, 2020
Sanmina Q2 2020 Earnings Report
Sanmina's financial performance was significantly influenced by COVID-19, but the company generated $119 million of free cash flow and maintained a strong balance sheet.
Key Takeaways
Sanmina reported its second quarter fiscal year 2020 financial results, which were significantly impacted by COVID-19. Despite the challenges, the company generated $119 million in free cash flow and maintained a strong balance sheet with over $1.1 billion in cash.
Financial results for the second fiscal quarter were significantly influenced by COVID-19.
The company generated $119 million of free cash flow.
Sanmina maintained a strong balance sheet with over $1.1 billion in cash.
The health and safety of employees is the top priority and precautionary measures are being taken.
Sanmina
Sanmina
Forward Guidance
The following outlook is for the third fiscal quarter ended June 27, 2020. Actual results could differ materially from those projected in these statements as a result of a number of factors, mostly notably the ongoing impacts of the COVID-19 pandemic which have reduced and are expected to continue to reduce demand from our customers, interrupt the flow of components needed for our customers’ products, restrict the types of products we can build for our customers and create health risks to our employees.
Challenges Ahead
- Ongoing impacts of the COVID-19 pandemic have reduced and are expected to continue to reduce demand from our customers.
- The pandemic has interrupted the flow of components needed for our customers’ products.
- The pandemic has restricted the types of products we can build for our customers.
- The pandemic has created health risks to our employees.