Sanmina Corporation reported a sharp jump in quarterly revenue on Monday, 9 November, as demand for cloud and artificial intelligence infrastructure lifted its electronics manufacturing business, and the company issued strong guidance for the year ahead.

The Silicon Valley manufacturer said revenue for the fourth quarter of fiscal 2026 reached $3.86 billion, up about 84% from $2.10 billion in the same quarter a year earlier. Non-GAAP diluted earnings per share came in at $4.43, well above the $3.27 expected by analysts, while GAAP diluted earnings per share rose to $2.14 from $0.88.

Sanmina said the integration of ZT Systems, the AI infrastructure business it acquired, and strong demand across cloud and AI end markets drove the growth. Non-GAAP operating margin for the quarter was 9.0%, and GAAP operating margin was 6.0%.

Full-year revenue up 79%

For the full fiscal year, Sanmina reported revenue of $14.53 billion, up 79% on the previous year, with non-GAAP diluted earnings per share of $13.28 and GAAP diluted earnings per share of $6.85. The company generated $944 million in cash flow from operations and $541 million in free cash flow.

Sanmina repurchased about 2.4 million shares for $393 million during the year, including $154 million of buybacks in the fourth quarter, and ended the quarter with $1.68 billion in cash and cash equivalents.

Shares in Sanmina closed the regular session on Monday at $149.64, up 11.1% on the day, and rose further in after-hours trading after the results were released.

Strong outlook for fiscal 2027

Management issued guidance that points to continued growth. For the first quarter of fiscal 2027, Sanmina expects non-GAAP diluted earnings per share of $3.50 to $3.85 on revenue of $3.8 billion to $4.1 billion.

For the full fiscal year, the company projects revenue of $17.5 billion to $19.5 billion and non-GAAP diluted earnings per share of $15.50 to $17.50. At the midpoint of that outlook, revenue would grow by about 27% and non-GAAP earnings per share by about 24%.

Sanmina said it expects demand to remain strong as customers continue to invest in AI data centres and accelerated computing programmes. The company builds complex electronic systems and components for customers in communications, computing, medical, industrial and defence markets, and the AI infrastructure boom has become its main growth engine.

AI buildout drives the order book

The results come at a time when investors are closely watching whether spending on AI infrastructure can keep growing. Chip stocks rebounded sharply on Monday after a bruising sell-off last week, and Sanmina's numbers gave the market another sign that demand for the hardware behind AI data centres remains strong.

Sanmina entered the report under pressure, with its shares down roughly 10% so far in 2026 before Monday's rally, even as the broader market rose. The company's earnings beat and confident outlook suggest the ZT Systems deal, which expanded its footprint in cloud and AI infrastructure, is paying off faster than many investors expected.

The company will hold a conference call to discuss the results and its outlook, and investors will be listening for detail on how much of the growth is coming from AI customers and how the order book is shaping up for 2027.

Sanmina is ranked 471st in the Fortune 500 and employs tens of thousands of people across nearly 80 manufacturing sites worldwide. Its headquarters are in San Jose, California.