Sanmina (SANM +1.63%) stock is roaring higher on Tuesday following a blockbuster quarterly report from the company. The electronics company's share price was up 15.6% as of 3:05 p.m. ET despite the backdrop of a 0.6% decline for the S&P 500 and a 0.9% decline for the Nasdaq Composite.
After the market closed yesterday, Sanmina published results for the second quarter of its 2026 fiscal year -- a period that ended March 28. The company's sales and earnings performance in the period crushed Wall Street's expectations, and the stock is roaring higher today despite bearish momentum for the broader market.
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Sanmina just served up a blowout quarter
Sanmina recorded non-GAAP (adjusted) earnings per share of $3.16 on sales of $4.01 billion in fiscal Q2. Sales and earnings in the quarter far exceeded Wall Street's expectations, with the company's adjusted per-share profit beating the average analyst estimate by $0.75 and its sales exceeding the consensus estimate by roughly $740 million. While Wall Street had already been modeling for the business to see strong sales growth in the quarter, revenue unexpectedly rose 102.5% year over year and dramatically outperformed the average analyst target.
NASDAQ: SANM
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What's next for Sanmina?
For the current quarter, Sanmina is guiding for sales to be between $3.2 billion and $3.5 billion. For reference, the average analyst estimate had been guiding for sales of roughly $3.51 billion in the quarter. While the company's guidance suggests a potentially meaningful sales shortfall relative to expectations this quarter, the company's fiscal Q2 result was so much stronger than expected that an apparent miss on fiscal Q3 guidance has far less significant implications.
