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Sep 30, 2023
Sanmina Q4 2023 Earnings Report
Sanmina's financial performance declined sequentially due to customer inventory adjustments, but non-GAAP operating margin remained consistent.
Key Takeaways
Sanmina reported Q4 revenue of $2.05 billion with a GAAP EPS of $1.04 and non-GAAP EPS of $1.42. The revenue was down 7% sequentially due to customer inventory adjustments. Despite the revenue decline, the non-GAAP operating margin remained consistent sequentially.
Revenue for the fourth quarter was $2.05 billion.
GAAP operating margin was 4.8%.
GAAP diluted EPS was $1.04.
Non-GAAP diluted EPS was $1.42.
Sanmina
Sanmina
Forward Guidance
The first quarter outlook is down sequentially, driven by some customers continuing to adjust inventory levels and ongoing macroeconomic uncertainty. Headwinds are expected for the next couple of quarters with an improvement in the back half of the year.