Sanmina jumps as Q2 results beat outlook and board approves new $600M buyback
Sanmina shares are higher as investors react to fiscal Q2 2026 results and an expanded capital-return plan. The company reported Q2 revenue of $4.01B, non-GAAP EPS of $3.16, and authorized a new $600M share repurchase program with no expiration date.
1. What’s moving SANM today
Sanmina (SANM) is rising as the market digests the company’s fiscal second-quarter 2026 earnings release (quarter ended March 28, 2026) and a new share-repurchase authorization. Management said revenue, non-GAAP operating margin, and non-GAAP diluted EPS exceeded its outlook, and the board approved a $600 million buyback program with no expiration date. (ir.sanmina.com)
2. The key numbers behind the rally
For fiscal Q2 2026, Sanmina reported revenue of $4.01 billion, GAAP diluted EPS of $1.70, and non-GAAP diluted EPS of $3.16. The company also posted $399 million in operating cash flow and $342 million in free cash flow, while repurchasing 1.1 million shares for $160 million during the quarter. (ir.sanmina.com)
3. ZT Systems and AI/cloud demand in focus
Management highlighted that ZT Systems revenue significantly exceeded expectations, driven by execution and customer demand, and that accelerated compute shipments previously expected in the second half shifted into Q2. Investors appear to be re-pricing the sustainability of this demand and the earnings power implied by stronger margins and cash generation. (ir.sanmina.com)
4. Outlook and what investors will watch next
Sanmina guided for fiscal Q3 2026 revenue of $3.2B–$3.5B and non-GAAP diluted EPS of $2.55–$2.85, and reiterated FY2026 revenue of $13.7B–$14.3B with non-GAAP diluted EPS of $10.75–$11.35. The new $600M repurchase authorization—after the prior program was exhausted as of March 28, 2026—adds a near-term support factor that can amplify upside if results remain strong. (ir.sanmina.com)