SANMINA CORP SANM

Sanmina Corporation reported $4.01 billion of revenue for the fiscal quarter ended 28 March 2026, alongside net income attributable to the parent of $93.6 million and diluted earnings per share of $1.70, according to its 10-Q filed with SEC EDGAR. The sharpest number in the filing is concentration: the company's ten largest customers accounted for 72% of net sales in the quarter, up from 51% a year earlier, with two customers each representing 10% or more of sales, primarily within its Integrated Manufacturing Solutions business.

Sanmina is a contract electronics manufacturer. It builds and assembles hardware for other companies across industrial, medical, defence, communications and computing markets, and reports a separate Components, Products and Services (CPS) segment that recorded $438.7 million of sales in the quarter against $391.9 million a year earlier, and $851.4 million across the six months versus $787.2 million. Because the company earns margins on building other firms' designs rather than selling its own, its fortunes track customer demand, working-capital discipline and factory utilisation more than any single product cycle.

The supplied financials, all drawn from the 10-Q for the period ending 28 March 2026, show operating income of $157.0 million, operating cash flow of $577.5 million, and capital expenditure of $143.6 million. Inventory stood at $3.03 billion after a reduction of $206.1 million during the period, which helps explain why cash generated far exceeded reported profit. Cash and equivalents were $1.58 billion against total assets of $9.67 billion, and research and development expense was just $8.0 million, consistent with a manufacturing-led rather than invention-led model. The results were announced via an 8-K press release dated 27 April 2026.

No TradingView or chart route was supplied with this file, so no price levels, ranges or technical readings are asserted here. The verifiable source rail is SEC EDGAR: the 10-Q and 8-K filed on 27 April 2026, a Form SD conflict-minerals disclosure for the period ended 31 December 2025, and a run of insider filings including Form 4 ownership statements dated 12 May, 28 May and 1 June 2026 plus Rule 144 proposed-sale notices on 26 and 29 May 2026. The market mechanism for an electronics manufacturing services business is plain: revenue depends on customer orders, and reported cash swings with how much money is tied up in inventory and receivables at quarter-end.

What changed most is customer concentration, rising to 72% of net sales from 51%, which raises both the reward and the fragility of the order book. What the rail does not prove is the dollar value or motive behind the insider Form 4 and Rule 144 filings, which were not parsed into figures here, nor any forward guidance, dividend, buyback or segment outlook. A deeper file would need the parsed insider transaction amounts, the press-release detail behind the 8-K, year-on-year segment margins, and any management commentary on whether the two 10%-plus customers represent durable contracts or a temporary demand spike.