Sanmina Corporation
Sanmina Corporation Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Sanmina Corporation Q2 FY26 key numbers
- Revenue
- ZT Systems is anticipated to contribute $6-$7 billion revenue in FY ’27, with opportunities to expand customer base beyond legacy clients.
As stated in Sanmina Corporation's Q2 FY26 earnings call transcript · published 29 May 2026. Reported figures, not investment advice.
The short version
- Sanmina projects fiscal year 2027 revenue of $16 billion plus, indicating strong growth ahead. - Sanmina expects fiscal year 2026 non-GAAP diluted EPS in the range of $10.75 to $11.35.
From Sanmina Corporation's Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Sanmina projects fiscal year 2027 revenue of $16 billion plus, indicating strong growth ahead.
- Core Sanmina business is expected to grow at high single digits into 2027 and 2028.
- ZT Systems is anticipated to contribute $6-$7 billion revenue in FY ’27, with opportunities to expand customer base beyond legacy clients.
- Growth is driven by AI infrastructure, cloud, communication networks, industrial and energy, medical, defense, aerospace, and automotive segments.
- New accelerated compute products scheduled for late FY ’26, with significant revenue impact expected in FY ’27.
- Continued investments in R&D and vertical integration to capture growth and enhance capabilities.
- Supply chain challenges present, especially in material availability, but managed closely to avoid revenue risk.
2 more points from Sanmina Corporation's call on revenue
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Profitability & Margins
See what Sanmina Corporation said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Sanmina is continuing to make strategic capital expenditures to support future growth, with Q3 CapEx expected around $95 million.
- Investments include incremental power, liquid cooling, and test cell capacity at ZT Systems to be production-ready for next-gen accelerated compute.
- The company is investing in engineering capabilities, particularly R&D, to transition ZT Systems from EMS to value-add ODM services and support AI business growth.
- There is ongoing investment in new technologies such as liquid cooling, custom optical modules, mechanical racks, busbars, and high-technology printed circuit boards.
- CapEx is timed and planned strategically, with some delay in Q2 but expected to resume ramp-up moving forward.
2 more points from Sanmina Corporation's call on capex
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Fundraising & Capital Structure
See what Sanmina Corporation said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Book-to-bill ratio was over 1.1:1 as of the latest quarter, indicating more orders than shipments.
- The company could have shipped more products last quarter if all required parts were available.
- Demand, especially in core Sanmina business areas like communication networks and cloud infrastructure, has grown over 20% year-over-year for six consecutive quarters.
- New wins in the ZT Systems business include multiple hyperscalers and ODMs; future production schedules are being finalized.
- The orderbook includes strong bookings from cloud customers, hyperscalers, CSPs, OEMs, and neoclouds.
2 more points from Sanmina Corporation's call on order book
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What the Q2 FY26 call signalled
3 of 5 strong
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Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Sanmina Corporation Q2 FY26 results?
- Sanmina projects fiscal year 2027 revenue of $16 billion plus, indicating strong growth ahead. - Sanmina expects fiscal year 2026 non-GAAP diluted EPS in the range of $10.75 to $11.35.
What is Sanmina Corporation share price analysis?
Sanmina Corporation currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 55.0 with a market cap of $14,109. Investors should review the full earnings analysis for detailed insights.
Is Sanmina Corporation planning capital expenditure?
- Sanmina is continuing to make strategic capital expenditures to support future growth, with Q3 CapEx expected around $95 million.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.