Sanmina-SCI Earnings: Here’s Why the Stock is Rising Now
Sanmina-SCI Corp. (NASDAQ:SANM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.47%.
Sanmina-SCI Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 53.85% to $0.4 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Decreased 3.89% to $1.49 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sanmina-SCI Corp. reported adjusted EPS income of $0.4 per share. By that measure, the company beat the mean analyst estimate of $0.35. It beat the average revenue estimate of $1.48 billion.
Quoting Management: “I am pleased with our third quarter results. We continue to benefit from improved efficiencies and favorable business mix. Our outlook for the fourth quarter is modest growth with further improvements in our operating model. I am excited about our future as we continue to invest in people and technology to create more value for our customers,” stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.
Key Stats (on next page)…
Revenue increased 4.3% from $1.43 billion in the previous quarter. EPS increased 33.33% from $0.30 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.39 to a profit $0.4. For the current year, the average estimate is a profit of $1.34, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)