Filing Flows › Sanmina (SANM) › Q2 FY26
Sanmina (SANM) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Apr 27, 2026
Sanmina (SANM) reported revenue of $4.0B for the second quarter fiscal 2026 (Q2 FY26), +102% from a year earlier and +26% from the quarter before. Operating margin was 3.9%, net earnings $93.6M (2.3% of revenue).
Sanmina, Q2 FY26: revenue $4.0B (+102% year over year), operating margin 3.9%, net earnings $93.6M, operating cash flow $399M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.0B | +26% | +102% |
| Gross profit | $354M | +46% | +101% |
| Operating profit | $157M | +113% | +71% |
| Net earnings | $93.6M | +90% | +46% |
| Operating cash flow | $399M | +123% | +154% |
| Free cash flow | $342M | +272% | +171% |
What changed
Revenue was $4.0B in Q2 FY26, up 102% year over year and up 26% from the previous quarter. IMS Third Party Revenue was the largest line at 89% of revenue. IMS Third Party Revenue added $2.0B year over year (up 125%), 98% of the total change.
Gross margin was 8.8%, down 0.1 points from Q2 FY25. Operating profit was $0.16B, a 3.9% margin (down 0.7 points year over year). Of the extra revenue versus Q2 FY25, 3% reached operating profit, below the 5% margin then. Operating expenses grew 133% against revenue growth of 102%. The fastest-growing cost line was Other operating costs (+7500%). Net earnings were $0.09B, up 46% year over year. The effective tax rate was 25.4%.
Operating cash flow was $0.40B (up 154% year over year), 408% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.23B. Capital expenditures of $0.06B left free cash flow of $0.34B.
Questions
What was Sanmina's revenue in the second quarter fiscal 2026?
Sanmina (SANM) reported revenue of $4.0B for the second quarter fiscal 2026 (Q2 FY26), +102% from a year earlier and +26% from the quarter before.
Was Sanmina profitable in the second quarter fiscal 2026?
Operating profit was $157M (3.9% of revenue) and net earnings $93.6M.
Source: Sanmina 10-Q on SEC EDGAR.