Standard of Excellence: Anticipating Customer Needs Early and Often
The Knowledge Base: At the Forefront of Electronics Manufacturing
Global Citizenship: Training the Next Generation of Talent
Sanmina Reports Q4 and Fiscal 2024 Financial Results
November 6, 2024 | SanminaEstimated reading time: 1 minute
Sanmina Corporation, a leading integrated manufacturing solutions company, reported financial results for the fourth quarter and fiscal year ended September 28, 2024 and outlook for its fiscal first quarter ending December 28, 2024.
Fourth Quarter Fiscal 2024 Financial Highlights
- Revenue: $2.02 billion
- GAAP operating margin: 4.4%
- GAAP diluted EPS: $1.09
- Non-GAAP(1) operating margin: 5.3%
- Non-GAAP(1) diluted EPS: $1.43
Fiscal Year 2024 Financial Highlights
- Revenue: $7.57 billion
- GAAP operating margin: 4.4%
- GAAP diluted EPS: $3.91
- Non-GAAP(1) operating margin: 5.4%
- Non-GAAP(1) diluted EPS: $5.28
Additional Highlights
- Cash flow from operations: Q4 $52 million and FY'24 $340 million
- Free cash flow(2): $29 million in Q4 and $231 million in FY'24
- Share repurchases: 0.9 million shares for $65 million in Q4 and approximately 4.0 million shares for $227 million in FY'24
- Q4 ending cash and cash equivalents: $626 million
"We finished the year with solid momentum. Our fourth quarter revenue was up 9.6 percent sequentially, and non-GAAP diluted earnings per share was up 14.3 percent over the prior quarter and exceeded our outlook. We saw growth in the majority of our end-markets, primarily with strength from the communications networks and cloud infrastructure," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.
"Our fiscal year 2024 results were in line with our expectations as we managed a challenging first half with improvements in the second half of the year. While our revenue was impacted for the year, we delivered another solid year of cash flow from operations. Furthermore, we demonstrated our commitment to return value to our shareholders by repurchasing 4 million shares for $227 million in fiscal 2024."
"The team has done an excellent job navigating the market dynamics and the Company continues to demonstrate resilience. Based on the forecasts from our customers and currently healthy demand levels, we expect fiscal 2025 to be a growth year," concluded Sola.
First Quarter Fiscal 2025 Outlook
The following outlook is for the fiscal first quarter ending December 28, 2024. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.925 billion to $2.025 billion
- GAAP diluted earnings per share between $1.03 to $1.13
- Non-GAAP diluted earnings per share between $1.30 to $1.40
Share on:
Suggested Items
European Chips Skills Academy Launches ECS Summer School 2025 to Inspire Future Electronics Talent
04/01/2025 | JCN NewswireThe European Chips Skills Academy (ECSA), an EU-funded project coordinated by SEMI Europe, in collaboration with industry partners AENEAS, EPoSS, and INSIDE, has announced the launch of the ECS Summer School 2025.
Real Time with... IPC APEX EXPO 2025: Highlighting Global PCB Trends and Technologies with all4-PCB
04/01/2025 | Real Time with...IPC APEX EXPOAndy Shaughnessy and all4-PCB's Ralph Jacobo discuss global distribution trends in the PCB industry, focusing on new technologies in plasma etching and final inspection. Ralph highlights the importance of IC substrate buildup technology and partnerships in the market.
Do You Have X-ray Vision? SMT007 Magazine April Issue Is No Joke
04/01/2025 | I-Connect007 Editorial TeamAs component packaging continues to evolve, the capability of inspecting through components is crucial. Has X-ray’s time finally come in electronics manufacturing? Join us in this issue of SMT007 Magazine, where we answer this question—and others—to bring more efficiency to your bottom line.
IPC APEX EXPO 2025: We’ve Got It Covered
04/01/2025 | I-Connect007 Editorial TeamIPC APEX EXPO is the largest electronics manufacturing trade show in North America, bringing together professionals from all sectors of the supply chain to educate, network, and share their products and services. We’ve put all our coverage of the show in one easy-to-find location. Just click on “Videos,” “Show Coverage” and “Photos” to find what you’re looking for. Check back regularly as more content is added. You won’t want to miss any of our unique coverage.
Real Time with... IPC APEX EXPO 2025: Akrometrix—Creative Approaches to Measuring Thermal Warpage
03/31/2025 | Real Time with...IPC APEX EXPONeil Hubble discusses his research on measuring thermal warpage which focuses on challenges in testing small, thin samples. He introduces non-destructive testing methods that effectively measure without damaging components. Neil highlights the industry's growing interest in AI and outlines future technology goals, including improved resolution and automation to enhance production efficiency.