Sanmina Corp (NASDAQ: SANM) is having an overwhelmingly strong day in the market today after reporting earnings for the second fiscal quarter. The financial results proved to be overwhelmingly positive, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about:
- The report that was released;
- what we’re seeing from SANM as a result; and
- what we’ll be watching for ahead.
SANM Reports Q2 Financial Results
As mentioned above, Sanmina is having an incredibly strong day in the market today after reporting its earnings for the second fiscal quarter. Here’s what we saw from the earnings report:
- Earnings Per Share – In terms of earnings per share, SANM had an overwhelmingly positive quarter. During the quarter, analysts expected that the company would generate earnings in the amount of $0.45 per share. However, the company actually reported earnings in the amount of $0.50 per share, beating expectations by $0.05 per share.
- Revenue – Revenue also proved to be positive. During the quarter, analysts expected that the company would generate revenue in the amount of $1.64 billion. However, the company reported revenue for the second quarter in the amount of $1.68 billion.
- Guidance – Finally, guidance proved to be positive as well. SANM said that it expects to generate earnings in the range between $0.53 per share and $0.61 per share during the third quarter. At the moment, analysts are expecting that the company will generate third-quarter earnings in the amount of $0.55 per share. In terms of revenue, the company expects that it will generate between $1.7 and $1.75 billion in the third quarter. At the moment, analysts are expecting to see revenue in the amount of $1.7 billion.
What We’re Seeing From The Stock
Earnings season is one of my favorite seasons of the year, and for good reason. It tends to generate incredible opportunities in the market. This is definitely the case with Sanmina. With such a strong earnings report, investors are excited, sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:15), SANM is trading at $33.00 per share after a gain of $5.30 per share (19.13%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SANM. In particular, we’re interested in following the revenue and earnings growth to see if the company does indeed meet the strong guidance that it has set in place. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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