Sanmina Q2 2024 Adj EPS $1.30 Beats $1.20 Estimate, Sales $1.835B Miss $1.858B Estimate
Portfolio Pulse from Benzinga Newsdesk
Sanmina Corporation (NASDAQ:SANM) reported Q2 2024 adjusted EPS of $1.30, surpassing the $1.20 estimate, but its sales of $1.835B fell short of the $1.858B estimate. This represents an 18.24% decrease in earnings and a 20.91% decrease in sales from the same period last year.
April 29, 2024 | 8:03 pm
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Sanmina Corporation reported a mixed Q2 2024 with adjusted EPS beating estimates but sales missing expectations, alongside significant year-over-year declines.
The mixed results with an earnings beat but a miss on sales forecasts, coupled with the significant year-over-year declines, suggest a neutral short-term impact on Sanmina's stock price. The earnings beat may provide some positive sentiment, but the sales miss and the substantial decreases compared to the previous year could temper any potential gains.
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