Company expects sequential improvement and higher earnings

  • Sanmina shares climb 15% on upbeat 2Q forecast
  • Company expects improvements in the second half of the year
  • Revenue expected to be roughly flat in the second quarter
  • Earnings forecasted to be higher than analysts’ expectations

Shares of Sanmina rose 15% after the company forecasted second-quarter results ahead of expectations and predicted improvements in the second half of the year. The San Jose-based manufacturing services provider expects revenue to be roughly flat in the second quarter, while earnings are forecasted to be higher than analysts’ expectations. The company posted a profit of $57.1 million in the first quarter, compared to $92 million a year earlier. Net sales fell 20% to $1.87 billion.

Public Companies: Sanmina (N/A)
Private Companies:
Key People: Jure Sola (Chief Executive)

Factuality Level: 8
Justification: The article provides specific information about Sanmina’s second-quarter forecast and expectations for the second half of the year. It also includes details about the company’s previous quarter’s profit and net sales, which are supported by analysts’ expectations. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. It is focused on providing accurate and objective information about Sanmina’s financial performance.

Noise Level: 7
Justification: The article provides information about Sanmina’s forecasted second-quarter results and improvements expected in the second half of the year. It also includes details about the stock performance and revenue expectations. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article stays on topic and supports its claims with some data, but it does not hold powerful people accountable or explore the consequences of decisions.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Sanmina

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the forecasted second-quarter results and improvements expected in the second half of the year for Sanmina. However, there is no mention of any extreme event or its impact.

Reported publicly: www.marketwatch.com