Stock Track | Sanmina Plunges 10.99% in Extended Trading on Disappointing Q2 Outlook and Profit Decline

Stock Track01-27 09:02

Sanmina's stock experienced a significant 10.99% plunge in extended trading on Monday, following the release of its quarterly financial results.

The sharp decline came despite the manufacturing solutions provider reporting first-quarter fiscal 2026 results that beat analyst expectations, with revenue of $3.19 billion and adjusted EPS of $2.38 surpassing consensus estimates. However, investors reacted negatively to the company's second-quarter outlook, which forecast revenue between $3.1 billion and $3.4 billion and adjusted EPS between $2.25 and $2.55, both falling short of market expectations for the upcoming quarter.

Additionally, the company's quarterly profit showed a decline, with net income dropping to $49.3 million compared to $65.0 million in the same period last year, contributing to the negative market sentiment despite strong demand in Communications Networks and Cloud & AI Infrastructure sectors.

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