FX.co ★ Sanmina Corporation Q2 Profit Decreases, but beats estimates

Sanmina Corporation disclosed its second-quarter earnings which, despite marking a decline from the same period the previous year, surpassed Street predictions.

The corporation's net profit amounted to $52.5 million, translating to $0.93 per share. This is a decrease from the previous year's second quarter, which saw $79.7 million or $1.33 per share.

Sanmina Corporation's adjusted earnings, after factoring out unique items, were reported as $73.9 million or $1.30 per share for the specified period.

On average, analysts had predicted that the corporation would earn $1.2 per share – their estimates did not account for special items. These predictions were gathered and compiled by Thomson Reuters.

The quarter's revenue for Sanmina dropped by 21.1% to $1.83 billion, a decrease from previous year's total of $2.32 billion.

Here's a brief overview of Sanmina Corporation earnings (GAAP): Earnings (Q2): $52.5 million, down from $79.7 million last year; EPS (Q2): $0.93, a decrease from $1.33 last year; Revenue (Q2): $1.83 billion compared to $2.32 billion recorded last year.

The corporation's guidance for the next quarter includes an EPS guidance of $0.95-$1.05 and a revenue forecast of $1.8-$1.9 billion.