Stock Track | Sanmina Plummets 14.01% Intraday on Disappointing Q2 Outlook and Profit Decline

Stock Track

01/27

Sanmina's stock plummeted 14.01% in intraday trading on Tuesday, extending losses from pre-market trading.

The manufacturing solutions provider reported first-quarter results that showed a significant decline in profitability compared to the same period last year. Despite beating analyst expectations for the first quarter, investors reacted negatively to Sanmina's second-quarter outlook, which fell short of market expectations for both revenue and adjusted earnings per share.

Additionally, the company's quarterly profit showed a substantial 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 certain business segments.

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