Sanmina-SCI Goes Negative
Sanmina-SCI (NAS: SANM) reported earnings on April 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q2), Sanmina-SCI missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped to a loss.
Margins contracted across the board.
Sanmina-SCI recorded revenue of $1.46 billion. The eight analysts polled by S&P Capital IQ foresaw revenue of $1.51 billion on the same basis. GAAP reported sales were 6.8% lower than the prior-year quarter's $1.57 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.27. The nine earnings estimates compiled by S&P Capital IQ anticipated $0.27 per share on the same basis. GAAP EPS were -$0.02 for Q2 versus $0.16 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 7.3%, 10 basis points worse than the prior-year quarter. Operating margin was 2.5%, 60 basis points worse than the prior-year quarter. Net margin was -0.1%, 90 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.57 billion. On the bottom line, the average EPS estimate is $0.36.
Next year's average estimate for revenue is $6.22 billion. The average EPS estimate is $1.33.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 117 members out of 143 rating the stock outperform, and 26 members rating it underperform. Among 41 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 31 give Sanmina-SCI a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Sanmina-SCI is hold, with an average price target of $11.64.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.