Sanmina Corporation (NASDAQ: SANM) Q3 2025 Earnings | 07/29/2025

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Sanmina Corporation delivered a robust Q3 2025, reporting revenue of $2.04 billion, up 10.9% year-over-year, and maintaining strong growth momentum across key end markets. The company achieved a non-GAAP diluted earnings per share (EPS) of $1.53, a 22.8% increase from last year and well above analyst expectations. Non-GAAP operating margin reached 5.7% and GAAP operating margin was 4.7%, reflecting operational discipline and margin expansion. Cash generation was notably strong, with $168 million in free cash flow and cash and equivalents reaching $798 million, underlining the company’s financial resilience and flexibility. Growth was broad-based: the Integrated Manufacturing Solutions (IMS) segment brought in $1.65 billion in revenue (up 11.6%), driven by strength in communications networks and cloud infrastructure, while the Components, Products and Services (CPS) unit delivered $422 million in revenue (up 8.8%), with a 320 basis point year-over-year gross margin improvement to 14.7%. The share of revenue from the top 10 customers remained high at 52.8%, and book-to-bill came in around 1:1, indicating solid demand and a diversified book of business. By end market, industrial, energy, medical, defense, aerospace, and automotive generated $1.256 billion, while communications networks and cloud infrastructure contributed $786 million, each showing notable year-over-year gains. Management highlighted significant progress on the pending ZT Systems acquisition, which is expected to add $5–6 billion to annual revenue and potentially double company revenue within three years of closing. Despite some increased non-GAAP operating expenses due to ongoing investments and softer automotive market trends, the company remains committed to its strong balance sheet, disciplined capital allocation, and margin expansion. Guidance for Q4 2025 anticipates revenue between $2.0–$2.1 billion and non-GAAP EPS of $1.52–$1.62, with management expressing confidence in solid execution and continued momentum into fiscal 2026. About Inside Ticker: For more expert analysis and real-time updates on Sanmina Corporation (NASDAQ: SANM) and other market movers, follow Inside Ticker and visit http://www.insideticker.com/ for in-depth reports, financial insights, and the latest news on leading companies. #Sanmina #SANM #Q32025 #Earnings #FinancialResults #RevenueGrowth #OperatingMargin #CloudInfrastructure #CommunicationsNetworks #Industrial #Defense #MedicalDevices #CashFlow #FreeCashFlow #Acquisition #ZTSystems #StockMarket #InsideTicker #Guidance #BookToBill #GrowthStrategy #BalanceSheet #OperationalExcellence #2025Outlook #Manufacturing #Electronics #BusinessUpdate