Sanmina Corp Files 10-Q for Q3 2024
Ticker: SANM · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 897723
| Field | Detail |
|---|---|
| Company | Sanmina Corp (SANM) |
| Form Type | 10-Q |
| Filed Date | Jul 31, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Sanmina's Q3 2024 10-Q is in. Check financials.
AI Summary
Sanmina Corporation filed its 10-Q for the period ending June 29, 2024. The filing details the company's financial performance and position. Key financial figures and operational highlights are presented within the report.
Why It Matters
This filing provides investors and analysts with the latest financial data for Sanmina Corp, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or operational changes.
Key Players & Entities
- SANMINA CORP (company) — Filer of the 10-Q
- 20240629 (date) — End of the reporting period
- 20240731 (date) — Filing date
- SAN JOSE (location) — Company headquarters city
- DE (location) — State of incorporation
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 29, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 31, 2024.
What is Sanmina Corp's Standard Industrial Classification (SIC) code?
Sanmina Corp's SIC code is 3672, which corresponds to Printed Circuit Boards.
What is the company's business address?
The company's business address is 2700 N First St, San Jose, CA 95134.
What was the previous name of Sanmina Corp?
Sanmina Corp was formerly known as SANMINA-SCI CORP, with a name change date of February 11, 2002.
Filing Stats: 4,579 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-07-31 16:29:01
Filing Documents
- sanm-20240629.htm (10-Q) — 1031KB
- sanmina_ex1045x20240629.htm (EX-10.45) — 259KB
- sanmina_ex311x20240629.htm (EX-31.1) — 10KB
- sanmina_ex312x20240629.htm (EX-31.2) — 9KB
- sanmina_ex321x20240629.htm (EX-32.1) — 6KB
- sanmina_ex322x20240629.htm (EX-32.2) — 6KB
- image_0.jpg (GRAPHIC) — 2KB
- image_22.jpg (GRAPHIC) — 0KB
- image_40a.jpg (GRAPHIC) — 0KB
- image_45.jpg (GRAPHIC) — 0KB
- image_48a.jpg (GRAPHIC) — 0KB
- image_53a.jpg (GRAPHIC) — 0KB
- 0000897723-24-000046.txt ( ) — 6411KB
- sanm-20240629.xsd (EX-101.SCH) — 42KB
- sanm-20240629_cal.xml (EX-101.CAL) — 49KB
- sanm-20240629_def.xml (EX-101.DEF) — 232KB
- sanm-20240629_lab.xml (EX-101.LAB) — 614KB
- sanm-20240629_pre.xml (EX-101.PRE) — 393KB
- sanm-20240629_htm.xml (XML) — 771KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Interim Financial Statements (Unaudited)
Item 1. Interim Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 30
Controls and Procedures
Item 4. Controls and Procedures 31
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 33
Risk Factors
Item 1A. Risk Factors 34
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46
Other Information
Item 5. Other Information 46
Exhibits
Item 6. Exhibits 47
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Interim Financial Statements (Unaudited)
ITEM 1. Interim Financial Statements (Unaudited) SANMINA CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS As of June 29, 2024 September 30, 2023 (Unaudited) (In thousands) ASSETS Current assets: Cash and cash equivalents $ 657,709 $ 667,570 Accounts receivable, net of allowances of approximately $ 8 million as of June 29, 2024 and September 30, 2023, respectively 1,154,834 1,230,771 Contract assets 414,805 445,757 Inventories 1,384,332 1,477,223 Prepaid expenses and other current assets 81,655 58,249 Total current assets 3,693,335 3,879,570 Property, plant and equipment, net 630,254 632,836 Deferred income tax assets 162,782 177,597 Other 177,160 183,965 Total assets $ 4,663,531 $ 4,873,968 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,433,803 $ 1,612,833 Accrued liabilities 243,429 267,148 Accrued payroll and related benefits 126,824 127,406 Short-term debt, including current portion of long-term debt 17,500 25,945 Total current liabilities 1,821,556 2,033,332 Long-term liabilities: Long-term debt 299,665 312,327 Other 200,972 209,684 Total long-term liabilities 500,637 522,011 Commitments and Contingencies (Note 7) Stockholders' equity 2,341,338 2,318,625 Total liabilities and stockholders' equity $ 4,663,531 $ 4,873,968 See accompanying notes to condensed consolidated financial statements. 3 SANMINA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended Nine Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 (Unaudited) (In thousands, except per share data) Net sales $ 1,841,430 $ 2,207,118 $ 5,550,823 $ 6,883,029 Cost of sales 1,687,891 2,023,910 5,081,687 6,313,246 Gross profit 153,539 183,208 469,136 569,783 Operating expenses: Selling, general and administrative 61,720 68,828 195,704 192,948 Research and development 7,659 6,719 20,271 18,712 Restructuring 1,793 296 7,257 1,731 Total operating expenses 71,172 75,843 223,232 213,391