Sanmina Q1 Adj EPS $1.30 Beats $1.22 Estimate, Sales $1.88B Beat $1.87B Estimate
Portfolio Pulse from totan@benzinga.com
Sanmina Corporation (NASDAQ: SANM) reported Q1 adjusted EPS of $1.30, surpassing the consensus estimate of $1.22, and sales of $1.88B, slightly above the $1.87B estimate. However, these figures represent a decrease from the previous year, with earnings down 20.73% and sales down 20.58% from the same period last year.
January 29, 2024 | 9:03 pm
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POSITIVE IMPACT
Sanmina's Q1 earnings and sales exceeded analyst expectations, which could lead to positive investor sentiment in the short term despite the year-over-year decline.
Beating earnings and sales estimates typically generates positive market reactions as it reflects a company's strong performance relative to expectations. However, the significant decrease compared to last year's figures may temper investor enthusiasm, suggesting a cautious optimism for the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100