SANM earnings / call / takeaways

SANM earnings call: key takeaways

What SANM said on its earnings call of November 9, 2026: results against expectations, what changed since last quarter, guidance and the questions analysts pressed on.

By Lician·November 9, 2026·AI-generated from the call transcript and Lician data

Sanmina reported non-GAAP diluted EPS of $4.43 for the fourth quarter, which exceeded the $2.89 consensus estimate (12:48)
The company delivered strong revenue growth and exceeded its financial outlook across all metrics. (12:48)

Results vs expectations

Metric	Consensus	Reported	Result
EPS	$2.89	–	–

What changed since last quarter

Non-GAAP operating margin for fiscal 2027 is guided to 7.0% to 7.5%, reflecting improved execution and mix. (37:33)
Management emphasized strong demand in cloud and AI infrastructure, with a focus on expanding partnerships and new platforms. (43:36)

Guidance

Metric	This call	Previous call
Revenue	Full-year revenue of $17.0 to $19.5 billion (37:33)	not captured
Revenue	Cloud and AI systems revenue of $7.5 to $9.0 billion (37:33)	not captured

What analysts pressed on

Whether the company's guidance accounts for potential supply chain disruptions and geopolitical risks. (59:11)
How the company plans to maintain growth in the core Sanmina business amid increased competition. (1:00:52)
Concerns about the impact of vertical integration on margins and operational complexity. (1:06:26)

In their words

We delivered a great result. For a fiscal year 26. (12:48)
We are executing according to our plan, with strong execution in both core Sanmina and Sanmina AI Group ZT systems. (12:48)
We expect cloud and AI systems revenue to be between 1.3 to 1.5 billion dollars. (35:38)

Read the full transcript with the AI summary, or listen on the company's official webcast.

Every past call in full and transcript search come with Lician Pro.

Written by AI from the automatic transcript of the company's public webcast and Lician's earnings data. Each sentence cites the passage it comes from, and a sentence with a figure that is not in its sources was removed. Not investment advice.