From The Motley Fool · Motley Fool Transcribing · · 1m 40s
Sanmina Q4 2026 Earnings Beat
Sanmina reports 84% revenue growth and 9% operating margin as AI infrastructure expands.
In brief
Sanmina reports 84% revenue growth and 9% operating margin as AI infrastructure expands. Sanmina exceeded Q4 2026 earnings expectations with $3.86 billion revenue, 84% year-over-year growth, and 9% non-GAAP operating margin driven by AI infrastructure expansion. Originally reported by The Motley Fool.
Q4 2026 Results
Sanmina reported $3.86 billion revenue, 84% year-over-year growth.
Core Business Strength
Core Sanmina revenue grew 42% to $2.97 billion, exceeding outlook.
ZT Systems Integration
ZT Systems revenue reached $884 million, aligning with guidance.
Operating Margin
Non-GAAP operating margin expanded to 9.0%, a 300 basis point increase.
Earnings Performance
Non-GAAP diluted EPS rose to $4.43, a 166% year-over-year increase.
Fiscal 2026 Revenue
Fiscal 2026 total revenue reached $14.53 billion, up 79% year-over-year.
Cloud and AI Systems
Cloud and AI Systems revenue grew to $884 million, supporting AI infrastructure expansion.
Fiscal 2027 Guidance
Fiscal 2027 revenue guidance of $17.5 billion to $19.5 billion, 27.4% growth.
Helios Program
Helios accelerated compute program began shipping in small quantities.
Inventory Growth
Inventory increased to $2.6 billion, up 131% year-over-year.
Tariff Recoveries
Tariff recoveries generated $30 million, contributing 75 basis points to margin.
Capital Expenditures
Fiscal 2027 capital expenditures guided at $450 million for next-gen infrastructure.
Market Outlook
Strong demand expected across industrial, energy, medical, defense and automotive segments.
Vertical Integration
Expanding vertical integration capabilities in liquid cooling and mechanical systems.
Share Repurchases
Share repurchases totaled $393 million for the fiscal year.
Fiscal 2027 EPS Guidance
Fiscal 2027 non-GAAP diluted EPS guidance of $15.50 to $17.50.
In short
Sanmina exceeded Q4 2026 earnings expectations with $3.86 billion revenue, 84% year-over-year growth, and 9% non-GAAP operating margin driven by AI infrastructure expansion.
