Sanmina Shares Surge After Blockbuster Q2 Earnings Beat

Sanmina (SANM) saw its share price jump 15.6% on Tuesday following the release of fiscal second-quarter results that crushed Wall Street estimates. The surge occurred even as the S&P 500 and Nasdaq Composite faced declines, highlighting the strength of the company's individual performance relative to the broader market. The electronics manufacturer reported results for the period ending March 28, showcasing explosive growth in revenue and profitability that caught analysts by surprise. The company's ability to decouple from the day's bearish market momentum underscores the magnitude of the beat. For the quarter, Sanmina posted non-GAAP adjusted earnings per share of $3.16, beating the average analyst estimate by $0.75. Revenue reached $4.01 billion, exceeding consensus estimates by approximately $740 million. Most notably, sales grew by 102.5% compared to the same period last year. Looking ahead to the current quarter, the company provided sales guidance between $3.2 billion and $3.5 billion. While this range sits slightly below the analyst consensus of $3.51 billion, the sheer scale of the fiscal Q2 performance has largely mitigated the impact of the cautious Q3 outlook.