Sanmina surges on Q2 beat, raised FY2026 outlook, and new $600 million buyback
Sanmina shares surged after reporting fiscal Q2 2026 results that showed net sales of $4.01 billion and non-GAAP diluted EPS of $3.16, alongside strong operating cash flow of $399 million. The company also authorized a new $600 million share repurchase program and raised its fiscal 2026 outlook.
1) What happened
Sanmina (SANM) is ripping higher today after a major earnings catalyst late Monday, April 27, 2026. The company posted fiscal second-quarter 2026 results (quarter ended March 28, 2026) that showed a sharp step-up in scale, strong profitability on a non-GAAP basis, and robust cash generation, while also announcing a fresh $600 million share repurchase authorization. (ir.sanmina.com)
2) The numbers that moved the stock
For fiscal Q2 2026, Sanmina reported net sales of $4.013 billion, GAAP diluted EPS of $1.70, and non-GAAP diluted EPS of $3.16. Cash provided by operating activities was $399 million and free cash flow was $342 million for the quarter, reinforcing the market’s focus on cash generation and capital returns. (ir.sanmina.com)
3) Guidance and capital return catalyst
Alongside the quarter, Sanmina guided fiscal Q3 revenue to $3.2–$3.5 billion and raised full-year fiscal 2026 revenue to $13.7–$14.3 billion with non-GAAP EPS of $10.75–$11.35. The board also authorized a new $600 million share repurchase program (no expiration disclosed in the filing summary), adding a second lever to the earnings beat for today’s upside move. (stocktitan.net)
4) What to watch next
Investors will track whether elevated acquisition and integration costs normalize, particularly as the company absorbs the scale-up reflected in this quarter’s results. Balance-sheet updates also matter: cash and cash equivalents were about $1.576 billion as of March 28, 2026, while long-term debt rose to about $1.999 billion, meaning future stock performance may hinge on sustained free cash flow and deleveraging alongside the buyback pace. (ir.sanmina.com)