Sanmina Corp Files 10-Q, Financials for Q1 2025 Detailed

TL;DR

**SANMINA 10-Q FILED: Q1 2025 NUMBERS ARE IN - CHECK THE BALANCE SHEET.**

AI Summary

Sanmina Corporation filed its 10-Q for the period ending December 28, 2024. The filing details the company's financial performance and position. Key financial data points such as total assets, liabilities, and equity for the periods ending December 28, 2024, and September 28, 2024, are presented, alongside comparative figures from the prior year.

Why It Matters

This filing provides investors and analysts with a detailed look at Sanmina's financial health and operational performance during the first quarter of fiscal year 2025, influencing investment decisions.

Risk Assessment

Risk Level: medium — Quarterly reports like this 10-Q are crucial for understanding a company's ongoing financial health and can reveal shifts in performance or financial standing.

Key Numbers

• 2024-12-28 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2025-01-28 — Filing Date (Shows when the company submitted this quarterly report to the SEC.)
• 2024-09-28 — Previous Balance Sheet Date (Provides a point of comparison for financial position changes from the prior quarter.)
• 2023-12-30 — Prior Year Comparative Period (Allows for year-over-year financial performance analysis.)

Key Players & Entities

• SANMINA CORP (company) — Filer of the 10-Q
• 20241228 (date) — End of reporting period
• 20250128 (date) — Filing date
• 2024-12-28 (date) — Balance sheet date
• 2024-09-28 (date) — Prior balance sheet date
• 2023-12-30 (date) — Prior year comparative period end

FAQ

Filing Documents

• sanm-20241228.htm (10-Q) — 774KB
• sanmina_ex311x20241228.htm (EX-31.1) — 10KB
• sanmina_ex312x20241228.htm (EX-31.2) — 9KB
• sanmina_ex321x20241228.htm (EX-32.1) — 6KB
• sanmina_ex322x20241228.htm (EX-32.2) — 6KB
• 0000897723-25-000007.txt ( ) — 5006KB
• sanm-20241228.xsd (EX-101.SCH) — 35KB
• sanm-20241228_cal.xml (EX-101.CAL) — 49KB
• sanm-20241228_def.xml (EX-101.DEF) — 211KB
• sanm-20241228_lab.xml (EX-101.LAB) — 545KB
• sanm-20241228_pre.xml (EX-101.PRE) — 347KB
• sanm-20241228_htm.xml (XML) — 507KB

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 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Interim Financial Statements (Unaudited)

ITEM 1. Interim Financial Statements (Unaudited) SANMINA CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS As of December 28, 2024 September 28, 2024 (Unaudited) (In thousands) ASSETS Current assets: Cash and cash equivalents $ 642,402 $ 625,860 Accounts receivable, net of allowances of approximately $ 8 million and $ 7 million as of December 28, 2024 and September 28, 2024, respectively 1,354,199 1,337,562 Contract assets 386,633 384,077 Inventories 1,425,869 1,443,629 Prepaid expenses and other current assets 67,347 79,301 Total current assets 3,876,450 3,870,429 Property, plant and equipment, net 605,073 616,067 Deferred income tax assets 153,246 160,703 Other assets 177,253 175,646 Total assets $ 4,812,022 $ 4,822,845 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,391,649 $ 1,441,984 Accrued liabilities 107,665 132,513 Deferred revenue and customer advances 239,642 215,553 Accrued payroll and related benefits 126,483 133,129 Short-term debt, including current portion of long-term debt 17,500 17,500 Total current liabilities 1,882,939 1,940,679 Long-term liabilities: Long-term debt 295,608 299,823 Other liabilities 212,283 220,835 Total long-term liabilities 507,891 520,658 Commitments and contingencies (Note 7) Stockholders' equity 2,421,192 2,361,508 Total liabilities and stockholders' equity $ 4,812,022 $ 4,822,845 See accompanying notes to condensed consolidated financial statements. 3 SANMINA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended December 28, 2024 December 30, 2023 (Unaudited) (In thousands, except per share data) Net sales $ 2,006,348 $ 1,874,798 Cost of sales 1,838,433 1,713,958 Gross profit 167,915 160,840 Operating expenses: Selling, general and administrative 70,845 64,785 Research and development 7,024 6,289 Restructuring 1,436 2,190 Total operating expenses 79,305 73,264 Operating income 88,610 87,576 Interest income 3,39

View Full Filing

View this 10-Q filing on SEC EDGAR